Annual Report of the Secretary of the Treasury On the State of the Finances for the Year .. 1940

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The substantial importations at higher duties during this period caused total collections on sugar and its products to be more than 50 percent larger than during 1939.
As the result of increased demand in the United States for foreign wool, revenue collected on wool imports exceeded that for 1939 by 66 percent. Duties collected on sugar and wool were also larger than in 1938. Collections from imports of metals and beverages, on the other hand, although substantially larger than during the previ
...ous year, fell below the 1938 total.
280 'BEPORT OF THE SECRETARY OF THE THEASfURY Taxes specified in the various revenue acts on imported merchandise, which was free under the Tariff Act of 1930, also yielded slightly larger returns than in 1939, due to increased collections from crude petroleum and copper which more than offset smaller receipts from expressed and extracted oils.
The European war adversely affected customs revenues in the latter part of the fiscal year, causing a decline of almost $18,000,000 in duties collected on imports from Europe.


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