Word: smoot
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Dates: during 1930-1939
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Because Congress does not meet until Dec. 7 and debt suspension must be voted by Dec. 15, the next international pay day, President Hoover was pressed to relax his opposition to a special session. Utah's Senator Reed Smoot estimated it would take six weeks to legislate on this matter. Mississippi's Democratic Senator Pat Harrison, so actively in favor of the Hoover plan that he called for a political armistice during its consideration, told the President the House would be tied up for weeks selecting a Speaker, advised him to call Congress into special session in late...
Late last week the White House stirred with sudden, mysterious activity. President Hoover had not been back 30 minutes from his Mid-West trip (see p. ioj before Secretary of State Stimson hurried in to see him. Soon a presidential message to Utah's Senator Reed Smoot in Salt Lake City started the Finance Committee Chairman at top speed to Washington. Connecticut's Representative Tilson, House floor leader, was asked to the White House for the night. Pennsylvania's Senator Reed was asked to report for breakfast next morning. Virginia's Senator Glass hustled up from...
...Reprisals?" On the tariff side of Hon. Mr. Bennett's budget speech-and to hear U. S. squawks last week one might have thought there was no other side-the Canadian Premier made courteous pretense that he was not offering "reprisals" to the U. S. Hawley-Smoot Tariff upping (TIME, June 2, 1930). Mr. Bennett said that Canada's depressed "infant industries" and her unemployed workers were uppermost in his mind. By protecting industries he would make jobs. Indeed, two days after his speech Premier Bennett proudly explained just exactly why he raised the tariff on wire netting...
Never has discussion of the Hawley-Smoot Tariff died down. Soon after it was passed, many big exporters, notably automobile men (biggest manufacturing industry), wailed their fears of foreign reprisals. Most drastic and clean-cut fulfillment of these fears came when Canada, biggest U. S. customer, frankly upped all her rates to match. France and England, though taking no action (except on cinemas in France), complained so loudly that much ill-will was bred. Australia's almost complete embargo was a nationalistic move after the U. S. pattern. Only a series of revolutions have checked wall-building in South America...
Defense? Dr. Klein defended the Hawley-Smoot Tariff with figures more specific than theoretical. Said he: "In 19 representative countries all over the world, comprising most of our leading customers . . . our share in their import totals last year was almost exactly 20%. . . . During 1924-27 [the U. S. share] averaged 20.7%. . . . Preliminary figures for 1931 show almost exactly the same trend." As to imports, his figures proved that for the first quarter of this year, "whereas the incoming European wares subject to duty fell 33%, . . . those coming in free of duties declined...