Word: germanic
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Dates: during 1930-1939
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Professor Whitinng (English), Mr. Hawkes (German): Thurs. 1:30-3 o'clock...
...cent penalty duty placed on all German imports by the government," continued Galbraith, "shows disapproval of current policies of governing the country much more strongly than would a frantic exchange of 'empty' notes. It injures Germany economically, whereas notes would serve only to make the German Government laugh up its sleeve at the foolishness of the United States...
Galbraith said that he did not believe the move would seriously affect the European situation. It will bring into review German trade relations with England and France although any direct action is unlikely...
Justifying the actions of the United States Government, the Economics instructor said, "I regard the penalty tax as a legitimate expression of the feeling of the United States to German international policy, including her International Economic Policy. There is a great deal of evidence that Germany has already reduced her imports from the United States to the indispensable minimum. As a consequence, any action of this kind is bound to be felt rather more severely by Germany in the retaliation which unquestionably follow...
...There is no question of the legality of the matter. Under German trading methods all exports are subsidized to an indeterminate degree...