Word: fordney
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Dates: during 1920-1929
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Tariff. The Fordney-McCumber Tariff is the most unjust, unscientific, dishonest in our history; is class legislation, increases cost of living two billion dollars, penalizes agriculture, in the long run benefits...
...Fordney-McCumber Act a great benefit. A protective tariff for all parties, including farmers...
...orator from Montana acquitted himself with great spirit, attacking Republicans for: a) Fordney-McCumber Tariff; b) Mellon tax plan; c) lack of foreign trade; d) corruption. "With covetous eyes," said he, "certain great oil interests of the country had long looked upon the naval reserves. During the Wilson administration, that great Secretary of the Navy, Josephus Daniels, stood guard over these precious properties...
...been addicted for the last twenty-five years. The Republican party has been supported very largely by manufacturers who have been many times paid for their financial backing by tariff legislation which has enabled them to charge exorbitant prices to the American consumer, particularly the American farmer. The Fordney tariff Act has increased prices to the American consumer about 4 billion dollars a year--at least 87 per cent or which goes to American manufacturers in higher prices. The Republican party has deliberately sacrificed the American farmer to the manufacturer. The farmer is compelled to buy on this protected market...
According to section 315-A of the Fordney -McCumber Tariff Law (.passed in 1922), the President is empowered to alter the tariff rates on any commodity either up or down, not to exceed 50% of the statute tariff. The action may be made by proclamation after an investigation of the costs of production in the U. S. and in the country which is our principal competitor in a given commodity. Within the limits set, the President is authorized to set new tariff rates sufficient to offset the difference in cost of production between the two countries. This...