Otto Gerdau Co. v. United States

Ekwall, Judge:

These cases involve certain importations of mica, palmyra fiber, and palmyra stalks from India, all of which were exported during May 1940. The question presented is the proper rate for conversion of the currency of the invoices, English pounds sterling, into United States dollars under section 522 (c) of the Tariff Act of 1930. The collector of customs in liquidation used the “official” rate rather than the “free” rate in converting the pounds into dollars for the purpose of assessing and collecting duties upon the value of the various kinds of merchandise, under instructions…