Word: runcimanned
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...Liberal Runciman's amazing about-face resulted from the fact that Free Trader James Ramsay MacDonald now heads a National Government supported by the largest Tory majority in British history (TIME, Nov. 9). Since the War tariffs have again become a leading Tory policy. Against his will, Mr. MacDonald was forced to appoint as Chancellor of the Exchequer famed Tariff Champion Neville Chamberlain. Next April or sooner, Chancellor Chamberlain will bring in an ironclad British Tariff Act, sure to pass. But emergency tariff measures are in the hands of Britain's obscurest cabinet ministry, the Board of Trade...
Northumbrians are easily drastic. Calmly Northumbrian Runciman brought in a bill (promptly nicknamed "The Abnormal Imports Act") vesting in his Board of Trade supreme power to issue Orders in Council upping Tariffs for the next six months on "manufactured articles and manufactures" (which in the King's English includes such things as gasoline). Unctuously over the good British signatures of President Runciman and two Treasury Lords, G. H. Shakespeare and A. U. M. Hudson, the Board of Trade declared itself "satisfied" last week that all the articles mentioned in the bill "are being imported in abnormal quantities...
Tariffs Into Law. Though a few Conservatives grumbled that Mr. Runciman had not pledged his Board to up tariffs the full, authorized 100% but to employ "discretion" in every case, the bill passed first, second and final readings in both Houses of Parliament last week by majorities of from 250 to 400, its swift passage being so certain that many M. P.s did not trouble to vote. In vain Old George Lansbury, leader of the puny Labor Opposition, cackled: "There is no ground or occasion for this departure from the established custom of the House of Commons to take plenty...
That he was really unhappy-genuinely torn in soul and spirit-Free Trader Runciman proved by his own speech during the otherwise perfunctory debate on his bill. As a friend said: "Poor old Walter supplied most of the arguments why his bill should not be passed...
...best, as uttered by Tycoon Runciman: "I think we would be very foolish to copy exactly the fiscal policy of the United States of America. . . . Do not let us do here that which would impede the payments which we receive from abroad. ... In the United States that may not do them much harm. That is for them to decide, not us. ... We . . . must not altogether close down the means whereby these remittances reach here. I am expressing my own opinion and others may express theirs if they like...