Word: smoots
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Without specifically recalling the famed fights over the Smoot-Hawley Tariff, the President added that, in his opinion, this was no longer a question which should divide Democrats and Republicans. But he promptly heard from two Republicans. Minnesota's Representative Harold Knutson declared that the President's proposal would close many a U.S. factory. Michigan's Roy O. Woodruff called for defeat of the entire reciprocal trade program. Congress set itself for long debate...
...ready-made to a financial community, the politicians in Washington were compounding their economic solecisms. Tariffs, which caused the U.S. to run an export surplus when, as a creditor, it should have collected its interest in the form of an import surplus, were hiked even higher by the Hawley-Smoot rates of 1930. The Ottawa Agreements, raising a tariff wall around the British Commonwealth, the quota systems, the blocked exchanges, the abandonment of gold - these were the complex but natural sequences of U.S. unwillingness to play its part. Long before the League of Nations had shown its inability to keep...
...which an outspoken man makes nearly as many enemies as friends; the American political system, whose rules are designed to discourage any man from starting at the top; the back-breaking !:-bor of bringing off an ideological revolution inside a party still run largely by men schooled in Smoot-Hawley foreign policy and Warren Harding "normalcy...
...will balance the value of Britain's services by: 1) fighting the war virtually alone for a year and a half; 2) continuing to supply men & materials now. And in the final peace settlement the U.S. and Britain are bound to break down the imperial preferences and the Smoot-Hawley Tariff...
Certainly the policy we adopted since 1920 was not that of a great crusading nation. Complete isolation, the Hawley-Smoot tariff, and a profit making reparation policy are hardly milestones on a path of virtue. Having failed to win the peace we walked out on world government as completely as any one. We gave up the cause liberals in all countries were fighting for and set ourselves to a completely self-motivated course...