|
The Tariff on Diamonds, Pearls, and Precious Stones
The
recent Underwood Tariff which caused so many changes also brought into
prominence new aspects of the diamond and gem importing business. For
many years the tariff on polished diamonds and on other finished gems,
including pearls, had been ten per cent. By the new tariff this was
raised to twenty per cent, and rough diamonds, which heretofore had
been on the free list, were made to bear a duty of ten per cent.
The
gem importers made a concerted effort to prevent the change in tariff,
because they believed that the object of the Administration would be
defeated rather than furthered by the changes. In other words, they
believed that the government would secure less revenue rather than
more, because of the added inducement to smugglers. However, the tariff
was raised and the only recourse now open to legitimate dealers is to
see, so far as possible, that no smuggling is done. The American
Jewelers' Protective
|
||
|
|
||