Word: smoots
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Thus did Dr. Funk poke the U. S. economy in a vulnerable spot. A creditor nation ever since World War I, the U. S. vainly hoped the Smoot-Hawley and other tariffs would keep it that way, forgetting trade is a two-way street. Cordell Hull, knowing that, has long preached reciprocal commerce. World War II put an end for the present to his small successes...
...smell of the domestic market until demand broke all records and exceeded 8,000,000 tons. But the beet growers, chief of whom is one of the Mountain States' best connected businessmen, President Heber Jedediah Grant of the Mormon Church, are better politicians than economists. Via Senator Reed Smoot they were Washington insiders in the '20s, and via their dozen-odd Senators (most of whom double in silver) they are Washington insiders still. Their achievements: an increased tariff and a domestic quota system...
...candidate since that day, wise, cold, realistic Mr. Grundy has sat, filling the room with smoke and influence. His role in the Party was to collect the funds that subsidized heelers and won elections. He persistently opposed labor legislation, old-age pensions because such laws cost businessmen money. The Smoot-Hawley tariff bill he still regards as his masterpiece. A bachelor, he wears high button shoes, smokes Havana cigars, burns Texas oil instead of Pennsylvania coal in his plants because it's cheaper...
...tall tree toppled by New Deal axmen in 1932 was lugubrious, bony, prophetic Reed Smoot, Utah Senator since 1903. Except for an occasional cussing-out as author of the Smoot-Hawley tariff, Latter-Day-Saint Apostle Smoot was promptly forgotten by a busy U. S., and his dismal prophecies with him. Last week thoughtful newsmen realized that at least two of gloomy Oldster Smoot's melancholy forecasts were being realized...
...Prophet Smoot's bleak words were timely because in Washington last week Congress unlaced its economy corset, began to fling about the taxpayers' money. Fired by the Senate's prodigal example in upping the farm bill to a juicy billion dollars (TIME, March 18), the House set upon the Labor-Federal Security Appropriation bill, upped...