Word: smooting
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Utah's Senator Reed Smoot, chairman of the Senate Finance Committee and good Presidential supporter, growled: "With approximately $600,000,000 in appropriations outstanding and more likely to be made, I don't see how next year we are going to pay any more into the War debt sinking fund than the 3 ½ % required by law. . . . We are going to pay our debts no matter who howls, and restoration of the 1 % [knocked last year off the income-tax] is imperative. . . . The country will be surprised at the small taxes that will be paid next March because...
...That the Smoot-Hawley Tariff Act of 1930 was, as a whole, futile and that the various measures adopted therein are little more than gestures, "made because the Republicans had vaunted the tariff as a never-failing remedy and were under bonds to keep their promises for this sort of relief," and that the most important result of the new tariff up to now has been to irritate Canada are the opinions expressed by Professor F. W. Taussig '79, Henry Lee Professor of Economics, in an article which is to appear in the November issue of the Economic Quarterly...
...only famed legislation that bears his name is the 1930 Tariff Act ("Hawley-Smoot") of which he is proud...
...make Europe like the high rates of the Hawley-Smoot Tariff Act became last week the special duty of John F. Bethune, selected by Chairman Henry Prather Fletcher and his five Tariff Commissioners as their No. 1 representative abroad. For this important foreign post Mr. Bethune has had eleven years' training as secretary to the old Commission in the stuffy, antiquated rooms of Washington's Oil Land Office Building...
...President Hoover's addresses of the week (see above), Vice President Charles Curtis took the stump for some of the speech-making he is not allowed while presiding over the Senate. Opening Delaware's Republican campaign at Wilmington last week, the Vice President warmly championed the Hawley-Smoot Tariff Act in an address which was a composite echo of all the Republican tariff speeches he had been forced to listen to during the nine months this measure was before the Senate. High point excerpt...