SUMMARY OF INFORMATION, WITH EXHIBITS, IN RE EFFECT OF CURRENCY VALUATION MEASURE. [Sec. 214, Title II, antidumping bill, H. R. 2435.] John R. Rafter, 34 Pine Street, New York, N. Y., and Carl W. Stern, 24 State Street, New York, N. Y., appearing for Gimbel Bros., New York, department store; Cohn & Rosenberger (Inc.), New York, beads and imitation jewelry; Wimelbacher & Rice, New York, fabric gloves; N. J. Richman Co., New York, embroidered linens; Mekelburg Specialty Co., New York, toy souvenirs and favors; I. Goldberg, New York, feathers and artificial flowers; Rothschild Bros. & Co., New York, buttons; A. J. Hague & Co., New York, toys; Naday & Fleischer, New York, dress fabrics and trimmings; D. G. Dery, New York, silk manufacturer; Max Mandel Laces (Inc.), New York, laces; Griffon Cutlery Works, New York, cutlery; Robert Reiner (Inc.). Weehawken, N. J., textile machines and accessories; and the Lace & Embroider Association of America (Inc.), New York. EFFECT OF SECTION 214 OF ANTIDUMPING BILL ON IMPORTS FROM VARIOUS FOREIGN COUNTRIES. TABLE I-Countries whose currencies have not depreciated 663 per cent from the metal value of their standard coins and whose exports to the United States will consequently not be affected by section 214. 1 Currencies of these countries are just above the two-thirds limit of depreciation provided for. TABLE II.-Countries whose currencies have depreciated more than the metal value of their standard coins, and whose exports to the consequently be charged with increased duties because of section 214. 663 per cent from United States will TABLE III.-Countries whose currency values under section 214 will be uncertain. TABLE IV.-Increases in duty on imports from countries affected by section 214. NOTE. If Czechoslovakia, Jugoslavia, and Poland, listed as uncertain, are affected by section 214, the increase in duties on imports from those countries will be 386 per cent, 870 per cent, and 6,000 per cent, respectively. Summary of prewar and present prices on imports from countries affected by sec. 214, as per attached exhibits. Summary of prewar and present prices on imports from countries affected by sec. 214, as per attached exhibits-Continued. The attached papers are submitted as exhibits showing comparisons between prewar and present prices of imports from low-currency countries affected by section 214. Mr. CARL STERN, NEW YORK, April 20, 1921. Care of M. J. Corbett & Co., 24 State Street, New York City. DEAR SIR: We herewith beg to hand you sample of our napkin No. 2029, plain rose scallop, which is the most important item in our line. In fact, the whole line is based on the price of the plain rose scalloped napkin, as far as selling is concerned. In 1914 the price of this napkin per dozen, including linen and labor, was 1 escudo. To-day the price of this napkin, including linen and lab or, is escudo 12.31. The prices on other articles in the balance of the line are in the same proportion. Yours, very truly, N. J. RICHMAN CO., Per LEO ELLISON. Mekelburg Specialty Co., manufacturers and importers of confectioner's novelties, 9-11-13 Walker Street, New York. Glass penholders (manufacturer, Elias Greiner Vettersohn): May 25, 1914. Feb. 1, 1921.. Toy crayons (manufacturer, Saalheimer & Strauss): Marks. 0.75 per gross.. Toy necklaces (manufacturer, Alexander Roniger, Czechoslovakia): Kronen. per gross.. 1. 20 .do.... 22. 50 Marks. per gross.. .50 ..do.... 10. 50. NEW YORK, April 18, 1921. Care of M. J. Corbett & Co., 24 State Street, New York City. DEAR SIR: Agreeable to our conversation over the telephone, we are inclosing here-with a copy of the letter which we are sending to various Senators and Representatives in Washington. Yours, truly, WIMELBACHER & RICE, NEW YORK, April 18, 1921. Supplementing our letter of the 16th instant, and in regard to the subject matter contained therein concerning the dutiable value of cotton gloves at the present market value and at the current rate of exchange, we desire to call your attention to the very important fact that the Government is receiving a far greater duty revenue under present conditions than it did in prewar times on the identical glove, when the duty value of the mark was figured on the standard basis of 23.8. For example, the glove quoted in our previous letter, the present market value of which abroad is 500 marks, pays, at the current rate of exchange 1.60, 35 per cent duty on $8, which duty amounts to $2.80 per dozen. In prewar times the market value of this same glove wa 9 marks per dozen and at the standard rate of exchange, 23.8 per mark, the duty value amounted to $2.142 per d. zen and the amount of duty collectible at 35 per cent amounted to 74.97 cents per dozen. Therefore, the Government is, under present conditions, collecting $2.80 per dozen duty on the same article on whch it collected 74.97 cents duty in prewar times. The revenue to the Government on this article under prevailing conditions is consequently nearly four times as great as it was in prewar times. We feel that these important facts should receive the very serious consideration of the United States Senate, in view of the probability of the entire abandonment of importations of goods of the character in question under the arbitrarily fixed rate of exchange, and the consequent loss to the Government of considerable revenue from this source. Respectfully, yours, NEW YORK, April 18, 1921. Mr. CARL STERN, Care of M. J. Corbett Co., 24 State Street, City. DEAR MR. STERN: As per your conversation with Mr. Rosenberger, I am sending you by bearer sample bunch of pearl beads which we are running in our line to-day and which we also ran in our line before the war. These beads are purchased from Heinrich Heinz, of Geiersthal, Germany, and I am giving you specific dates of invoices from both prewar times and also recent purchases. On invoice of June 18, 1914, this exact pearl of the same graduation cost us marks 17.50 per dozen strings: and on an invoice of September 15, 1920, we were charged for this same item marks 370 per dozen strings. Very truly, yours, Mr. LEONARD KLAUBER, JEROME H. OPPENHEIM Co. NEW YORK, April 20, 1921. Care of Lace and Embroidery Association, New York City. DEAR Mr. KLAUBER: As per conversation, I am herewith submitting samples of a few numbers with comparative prices: No. 397 we imported recently at a cost of 40 marks net per gross. During and previous to 1913 we purchased this same number at 1.50 marks per gross less 2 per cent. No. 274/1 we imported recently at 45 marks, less 4 per cent per gross. During and previous to 1913 we imported this at a cost of 1.80 marks per gross less 4 per cent. Sorry that we can not give you any other numbers for comparison, but trust that these will help you a little. Sincerely, yours, Mr. LEONARD KLAUBER, ABE STERN. NEW YORK, April 20, 1921. 160 Fifth Avenue, New York City. Care of Lace and Embroidery Association of America, DEAR LEONARD: As per your request I enclose herewith samples of four patterns of Plauen Venises marked with costs before and after the war. Hoping they will be of service, I am, Yours sincerely, ENCLOSURES FROM KROWER-TYNBERG CO. (INC.). Sample No. 66651. BRUNO FALK. Bought in 1914 at 21 pfennigs; bought at 6.90 marks in 1920. NEW YORK, April 21, 1921. M. J. CORBETT & Co., New York City. Attention Mr. Carl Stern. DEAR SIR: I herewith inclose a sample of flowers to testify that in 1913 and 1914 we bought this kind of merchandise from Paul Klemm, Sebnitzsachsen, Germany, at 1.75 marks per dozen, and for which we now pay 28.50 marks per dozen. Very truly, yours, Mr. CARL W. STERN, 24 State Street, New York City. I. GOLDBERG. WEEHAWKEN, N. J., April 20, 1921. DEAR MR. STERN: Just received your letter of the 19th and send you herewith, a schedule of the different prices of our machines in 1914 and 1921. The German mark in 1914 was worth 23.8 cents whereas the mark to-day is worth about 1.60 cents, but as you see from the difference in the prices of the machines and parts, they increased in value 10 and 15 times. You also have to take into consideration whenever the mark raises in Germany, the price of the merchandise raises accordingly. You no doubt understand our position; the embroidery machines which we handle are not manufactured in this country; we are under contract to deliver more than 100 machines at fixed prices and you can readily understand the position we would be placed in, if the duty is increased 500 per cent. It would stop imports immediately from the other side, besides it would be a hardship on our customers who depend entirely on us to fill their wants for em-broidery machines. We hope in hand of the inclosed schedule, you are able to argue your case successfully and that the bill will not go through. I will anxiously look forward to hearing from you upon your return from Washington. Wishing you sucecss, Very truly, yours, ROBERT REINER (Inc.), 44121-21-PT 1- -10 REINER, President. |