Word: smoots
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...said he would (TIME, June 23), President Hoover last week signed the Hawley-Smoot Tariff Bill. To write the necessary 13 brief words he used six gold pens, which he presented to the conferees on the bill: Senators Smoot, Watson, Shortridge, and Congressmen Hawley, Treadway, Bacharach. During the ceremony, from which photographers, newsgatherers and cinemen were excluded, Secretary of the Treasury Mellon, four of the conferees, Collector of Customs Francis X. A. Eble and the President's three private secretaries, stood by at solemn attention...
...Adopted Senator Borah's resolution directing the Tariff Commission to investigate certain rates in the Hawley-Smoot Bill, with a view to demonstrating the flexible provisions of the Bill...
...Hawley-Smoot Tariff Bill ("steal," its enemies called it) had become law. Some ships, having lost the race, turned out of U. S. ports, took cargoes elsewhere. Conversely, piles of chicle (for gum-chewers), piles of spice and other things nice on which the new law reduced or revoked duties, after long waiting came officially into the U. S. from customs warehouses...
...Adopted (44 to 42) the conference report on the Hawley-Smoot Tariff Bill...
Reprisals. The threat of foreign tariff reprisals alarmed big exporting industrialists as much as the prospective disruption of the world trade cycle. Thirty nations have filed 161 specific protests against items in the Hawley-Smoot bill. Canada, best U. S. customer, has made a provisional upward revision of its tariff which would adversely affect 25% of the goods imported by the U. S. and give British imports a much higher preference rating. Cuba was moving in the same direction...