Word: runcimanned
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...tariffs as a cause of World Depression, have charged that by curtailing the volume of world trade, U. S. tariffs have helped to make it difficult for Germany and Europe to export enough to pay Reparations and War Debts from their profits. This much is certain: The Runciman emergency tariffs will deal a major blow to the exports of Germany and Russia, a minor blow to U. S. exports (not to mention others), and may throw further out of gear the already groaning mechanism of Reparations and War Debts...
Most U. S. exports to Great Britain consist of raw materials and foodstuffs. These are untouched by the emergency Runciman tariffs decreed last week. In 1929, the latest year for which trade figures are complete, U. S. exports to Britain totaled 5,000,000 of which only $18,600,000 were goods now liable to the Runciman tariffs.- Germany, on the other hand, exported $334,453,953 to Great Britain in 1929. of which $282,071,508 would not be Runcimanned; Russia exported $126,329,245 of which $33,507,294 would suffer. This Christmas for the first time "cheap...
British Dominions, of course, will receive a 100-70 rebate on the Runciman tariffs thus escaping them completely. It appeared last week that goods manufactured by U. S.-owned plants on Empire soil would similarly escape. In the past eight months U. S. citizens have bought 154 new factory sites in Great Britain, and 500 U. S.-owned or leased factories were humming last week in the United Kingdom...
...Runciman Moderation. What escaped some observers last week was the real moderation of Mr. Runciman, Mr. Shakespeare and Mr. Hudson in drafting their Orders in Council...
...high altitude of the present U. S. tariff, with ad valorem duties running up to 80% and exceeding 50% in most cases, was admitted last week to be so great that further upping in ''retaliation'' against Britain would be impracticable. What many a Runciman in the Empire hopes is that temporary British tariffs will force U. S. and other tariffs ultimately down, will lead to an international tariff truce which of course would be Free Trade...