Port economics

Bibliographic data

Monograph

Identifikator:: 173564191X

URN:: urn:nbn:de:zbw-retromon-111718

Document type:: Monograph

Author:: Cunningham, Brysson http://d-nb.info/gnd/1055472266

Title:: Port economics

Place of publication:: London [usw.]

Publisher:: Pitman

Year of publication:: 1926

Scope:: IX, 134 S

Digitisation:: 2020

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VI. Port revenues

Collection:: Economics Books

PORT REVENUES 79 Freeport areas, that is, areas within which dutiable articles and material can be received under sanction of the Customs Authorities for manipulation and treatment prior to re-shipment abroad, the whole of the processes being carried on without the necessity of paying Customs duties at the port in question. Freeports, as they are concisely termed, are principally in evidence on the Continent. In a Free Trade country there is no necessity for them. The same processes can be effected in a Bonded Ware- house, though the operations in such a case must, of necessity, be of a more restricted character. Bonded Warehouses are under close Customs supervision. Double locks are fitted to the storage compartments, and one of these is in the charge of the local Customs officer, so that access cannot be obtained to the compartment without his cognizance. Within the limits of a warehouse floor or compartment, it is practicable to carry on such processes as the blending and repacking of tea and the bottling of wines and spirits, and these are done during ordinary working hours under the supervision of a Customs official. Duty only becomes payable when the articles are with- drawn from Bond. In the United States, warehouses of this class are designated Bonded Manufacturing Warehouses. There is another arrangement in vogue in America, giving a greater degree of freedom to the importers. Having paid the duty appropriate to the goods in question, he is at liberty to take his goods to reserved premises, where he may manipulate them at will, without reference to hours of Customs attendance, and finally, when he re-exports his goods, with satisfactory evidence as to their identity, he receives forthwith a refund of gg per cent of the duty, the remaining 1 per cent of the duty, called the Drawback, not becoming repayable until thirty days after the arrival of the re-export at its foreign destination. There are naturally certain regulations to be complied with which involve some inconvenience, and it is stated that many

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