Word: smoots
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...manganese producers who charged that the Senate Republicans were favoring great Eastern corporations potent in politics. Connecticut's Senator Hiram Bingham was one of the two Republicans whose vote change caused the manganese rate change. His explanation: "The White House wanted it." Even high-tariff Chairman Reed Smoot, incensed at his committee's inconsistency, ironically observed that the market value of U. S. Steel stock had increased "only a hundred million dollars" after the last fortnight's slump precipitated by an increase of the Federal Reserve's rediscount rate...
...Finance Committee last week decided: 1) To abandon Senator Smoot's sliding sugar tariff because of its resemblance to price-fixing; 2) To triple the house-proposed duty on waste wool; 3) To reduce the duty on automobiles from...
...Senate on Aug. 19. Reason: The Senate Finance Committee, badly stalled on tariff writing, admitted it could not complete its bill before next month. Gentlemen of the Senate had agreed to do nothing more than meet and adjourn for three-day periods until Sept. 3, when Chairman Reed Smoot of the committee was "almost sure" he would have the measure ready...
...Smoot Plan. The present duty on world sugar is $2.20 per 100 lb., on Cuban sugar $1.76. Loud have been the protests against this increase, ominous the warnings to consumers. To quiet this clamor, Senator Smoot proposed a scale of sugar duties that would vary inversely to the wholesale New York price of sugar. His purpose was to stabilize that price at $6 per 100 lb. Insistent was he that it would produce sugar rates lower than those in the House bill. The top rate in the Smoot scale would be $3 per 100 lb., the bottom $1. Cuban imports...
...complaint there was at the committee hearing on Senator Smoot's plan. Beet sugar growers did not think it would give them adequate protection. Farm representatives called it a "risky experiment." Senator Smoot's co-author of the Tariff Bill, Congressman Willis Chatman Hawley of Oregon, complained the plan should not "be even considered." Mississippi's Democratic Senator Pat Harrison commented sarcastically on the "fretful condition of this newborn sugar baby." "Certainly," said he, "the sleepless nights Senator Smoot must have spent with this crying curiosity . . . entitle him to a rest...