Word: smoots
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...Hawley & Mr. Smoot...
...have the answer. TIME sticks to the facts. It was all caused by the Smoot-Hawley Tariff in June 1930. What happened before that just didn't matter. "The depression . . . deepened. England went off gold. In the U.S. men sold apples on the street corners" [TIME...
...bill was 14 months in preparation. The Tariff Commission submitted 2,750 pages of data; 11,000 pages of tables and data filled the printed hearings, in which Hawley listened to 1,131 witnesses, Smoot, to 1,232; 2,800 pages of the Congressional Record recorded the debate. The bill raised tariff rates on more than 650 articles, some of them to the highest level in U.S. history. As the bill passed, a Tennessee Congressman named Cordell Hull, famed for his persistent 23-year-long losing fight for freedom of trade, wept...
...billion dollars to 1932,s nothing. England went off gold. In the U.S. men sold apples on street corners; the Bonus Army marched on Washington. Into power in Germany came a nervous, harsh-voiced, twisted genius named Adolf Hitler. Economic nationalism, forced into full flower by the Smoot-Hawley Tariff, became the physical basis for the ideology of Fascism. The lines were written, the stage was set for World...
Last February, in St. Petersburg, Fla., died Apostle Reed Smoot, still isolationist, still bitter at Cordell Hull's reciprocal trade agreements, which partially nullified the still-existing Smoot-Hawley Act. And last week, in Salem, Ore., death came to Willis Hawley, 77, the Oregon axman who had helped chop down the economic foundations of the world...