Mr. M. Bigelow Browning March 7, 1950 now by virtue of a bond. It will impose a new and different liability on the surety for the bond. It is alse expected, as your letter suggests, to simplify customs clearance, avoid ce-« lays in delivery, obviate the necessity of redelivery, etc. That is as far as my present knowledge ef the new form of bond goes, If you require further details, be gled to ebtain them and advise you further. The dutiable proposed changes value are embodied Simplification Act of of States the United will be gent session chance introduced of in in the kinds a Bill and called definitions the "Customs 1950", originating in the Sureau Tressury Department, which, it in the House of Congress and being enacted. That of Representatives which, it Bill proposed I shall of of Customs is expected, at the pre- is believed, has a good would eliminate "foreign value", would retain “export value" in substantially its present form, and would liberalize the definition of "United States vaiue", so as to make it unobjeectionable and, perhaps, desirable from your Mr, I standpoint. Val Browning posed changes be harmful to changes in and have have already discussed told that, him in the value provisions your company. In other expenses customs duties other would be subject my opinion, the tariff law with the pro~- would not Briefly stated, it is my opinion that, under the proposed the law, your importations would be appraised at "United States value", the basis of which in this country, from which would profit and general expenses, cost and and of this in words, I from place of shipment to and federal taxes payable believe equivalent would be your own selling prices be allowed your addition for of transportation, insurance to that your own the proposed purchase place of delivery, on the merchandise. "United States value" prices. When the Bill referred to is introduced in Congress, shall obtain and send you a copy of same with such additional comments as may then seem necessary. te With best regards, Sincerely yours. /s/ R, John Rafter [I