Word: smoot
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Dates: during 1930-1939
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What really overthrew Machado, killed the officers of the Plaza Hotel, and pitched Cuba into an anarchy from which, it appears, only a brutal rule can pull her, was the Hawley-Smoot Tariff of 1929. The very gentle ex-Senator Smoot of Utah, who alternates his campaign for literary purity with an effective defense of Western and Southern United States sugar concerns, was able in this piece of legislation largely to exclude Cuban sugar from the American market, thus in a rather short space of time ruining the island's main industry, provoking the violent unrest born of poverty which...
...dealings with U. S. bootleggers. Last week their trade paper, Le Capital, urged them not to break off profitable clandestine relations in a hurry, warned that "an American tax of $6.40 per gallon on alcohol is provided and must become effective automatically when Prohibition is abolished. Furthermore, the Hawley-Smoot Tariff Act provides an additional tax of $5 per gallon on imported liquors. "There still are some days left for the bootleggers and gangsters, who will continue to ignore licenses, taxes and import tariffs. In these circumstances, it would seem that our cognac producers should continue, as they have done...
...Raising the discount rale in August 1929, and the Hatry crisis in London, precipitated the debacle which was spurred on in 1930 when the Hawley-Smoot tariff threw a monkey wrench into world commerce, in 1931 by the failure of the Creditanstalt in Austria, the German moratorium and England's abandoning gold. The Glass-Steagall bill produced improvement last summer which was promptly undone by President Hoover's Des Moines speech ("could not hold to gold . . . but two weeks longer"), controversy over War Debts and publication of R. F. C. loans which caused runs on banks...
...tariff Republicans call Cordell Hull a free-trader. He calls himself a Jeffersonian Democrat committed to tariff-for-revenue-only. In 1910 he damned the Payne-Aldrich law as "a miserable travesty, an ill-designed patchwork, a piece of brazen legislative jobbery" and in 1932 he flayed the Hawley-Smoot act as "utterly disastrous to our trade." Long an advocate of tariff reciprocity, he wrote that plank into the last Democratic platform. As President Roosevelt's Secretary of State his job will be to negotiate tariff treaties. Senator Hull's world views: "The mad pursuit of economic nationalism...
...Smith '35 (A), 3-0; R. S. Greene '34 (Low) defeated Howard Rosenfeld '35 (A), 3-0; V. R. Montanari '33 (Low) defeated Dexter Newton '35 (A), 3-0; F. L. Wiegand '35 (Low) defeated J. B. Mulford '35 (A), 3-0; Hamlton Gray '33 (Low) defeated C. H. Smoot...