Page:United States Statutes at Large Volume 46 Part 1.djvu/783

 740 SEVENTY-FIRST CONGRESS. SEss. II. CH. 497 . 1930 . ADMIMSTRATIVE PRO- quarterly by the Director of the Mint and be proclaimed by the vrsm xs. To be proclaim ed Secretary of the Treasury quarterly on the 1st day of January, quarterly. u.S.C.,p,999. April, July, and October in each year ." Duties assessed on (b) PR OCLA IMED VAL IrE BASI S OF CONVERSION .-For the purpose val ues p rocl aimed . of the assessm ent and co llection of duties u pon mercha ndise imported into the United States on or after the day of the enactment of this Act, wherever it is necessary to convert foreign currency into Exception . currency of the United States, such conversion, except as provided in su bdi vis ion (c), shall be made at the values _proclaimed by the Secretary of the Treasury under the provisions of section 25 of such Act of August 27, 1894, as amended, for the qua rt er in which the merchandise was exported. rateNew York buyin g (c) MARKET RATE WHEN NO PROCLAMATION .- I f no such value ,if value notpro- cla imed, or var ying 5 has been proclaimed, or if the value so proclaimed varies by 5 per percentofit. centum or more from a value measured by the buying rate in the New Yor k ma rket at noon on the day of expo rtat ion, con vers ion shall be made at a value measured by such buying rate. If the date Method of determin. Of exportation falls upon a Sunday or holiday, then the buying rate ing. at noon on the last preceding business day shall be used. For the purposes of this subdivision such buying rate shall be the buying rate for cable transfers payable in the foreign currency so to be converted ; and shall be determined by the Federal Reserve Bank of New York and certified daily to the Secretary of the Treasury. who Considerati onsforas- shall make it public at such times and to such extent as he deems cer tai nin g. necessary. In ascertaining su ch buying ra te su ch Fe der al re se rve bank may in its discretion (1) take into consideration the last ascert ainable transact ions and quotati ons, whe ther dir ect or t hrough exchange of other currencies, and (2) if there is no market buying rate for such cable transfers, calculate such rate from actual transactions and quotations in demand or time bills of exchange. Comptrollers of Cus- SEC. 523. COMPTROLLERS OF CUSTOMS. toms. known off icer s to be Naval officers of customs in office on September 22, 1922. and their success ors shal l contin ue to be known a s Comptr ollers o f Custom s. by, Examination, of oll t etc ., Comptrollers of Customs shall examine the collector's accounts of collector's ac- counts, etc ° recei pts a nd dis burse ments of money and receipts and dispo sition of merc handise and cert ify the same to the Secr etary of the Tre asury for transmission to the General Accounting Office. Th ey shall perform such other duties as the Secretary of the Treasury may from time to time prescribe, and their administrative examination shall extend to all customs districts assigned to them by the Secretary Verification of assess- of the Treasury. ment of duties, etc. C omptro llers of C ustoms shall verify all assessments of duti es and allowances of drawbacks made by collectors in connection with the liquidation thereof. In cases of disagreement between a collector and a Comptroller of Customs, the latter shall report the facts to the Secr etary of the Tre asury for instruc tions. Present appoi ntee s not affected. T his sect ion shal l not be con stru ed to af fect the man ner of . appointment, the terms of office, or the compensation of any such Vol.42, p.20. officer as now provided by law, nor to affect the provisions of the Budget and Accounting Act, 1921, approved June 10, 1921 . rep aledg ofdocuments So much of sections 26 26 and 4158 of the Revised Statutes, as 4x32, pp s5 0; s6 o2'as8' amen ded, as requ ires the cou nter sign ing of d ocum ents by nava l U. S. C., pp. 526, officers (now Comptrollers of Customs) or by surveyors, and so 145 8, 1482 . much of section 4332 of the Revised Statutes, as amended, as requires the signing of documents by naval officers (now Comptrollers of Customs), is hereby repealed.

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