Word: fordney
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Dates: during 1920-1929
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...Question. The Fordney-McCumber Tariff Act contained for the first time in national history a provision for a flexible or elastic tariff to be applied entirely at the discretion of the Chief Executive. On recommendation of the Tariff Commission he may raise or lower duties (not more than 50% of the amount fixed by law). The question which arose in the Tariff Commission was whether it had the power to investigate and recommend changes in the tariff on its own initiative, or whether it must confine its consideration to specific tariff rates against which complaints were made. The Republican members...
Senator Smoot points out that the Fordney-McCumber Tariff cannot be held entirely responsible for a rise of three or four cents in the price of sugar, since the new rate is only an increase of .76 to 1.05 cents a pound over the previous tariff...
...measure) gave Chairman Cordell Hull of the Democratic National Committee a chance to abuse the Republicans for passing it and thus making sugar speculation behind the tariff wall both tempting and safe. President Harding, alert and cautious fearing that there might perhaps be something rotten in the state of Fordney-McCumberism, promptly ordered an investigation of the situation by the Federal Tariff Commission (which had already started one of its own) to see if he would be authorized to reduce the sugar duty as provided by the law. As the investigation will occupy from 40 days to six months, according...
...Federal Tariff Commission, which is conducting an analysis of the sugar situation to ascertain whether the President is justified in exercising the sliding scale provisions of the Fordney-Mc Cumber Tariff Law, whereby the tariff on sugar can be reduced by 50% at the President's discretion...
...record will not be written in golden characters on the tablets of Time. Although Senator Robinson is a democrat, his statement that "no important legislative achievement except bills of a non-partisan nature and except the Fordney-McCumber tariff act can be awarded the Sixty-seventh Congress" is no exaggeration. The passage of the Fordney tariff was not greeted with a universally joyous acclaim. Certain pledges made by Republicans for the creation of a soldiers' bonus have been repudiated along with President Harding's mellifluent promise of an association of nations. The settlement of the British Debt problem, although...