Word: systemic
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Dates: during 1920-1929
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...promotion was one of merit, prime Hoover administrative policy. In the Department of Commerce, Mr. Young created the present system of enforcing air commerce rules, inspection, license of civil aircraft, licensing of pilots and mechanics. Last week, before his promotion, he announced new, strict rules for transport pilots. After Sept. 1 they must get their licenses renewed every six months. They will get renewals only by reproving their ability at trick takeoffs and landings. They must have flown at least ten hours solo in the types of planes for which they are licensed. And they must be able...
Valuation. The cost of an article abroad (foreign value) is now used to assess ad valorem duties. The Finance Committee voted to change the system to domestic or U. S. valuation?then crossed its fingers and postponed the effective date to Jan. 1, 1932. Domestic value is "the price at which imported merchandise is freely offered for sale in the principal markets of the U. S. in wholesale quantities." The committee's purpose was to change the system of valuation without changing the scale of protection. The Tariff Commission was ordered to calculate the conversion and submit to Congress...
Having disposed of last-minute details, the Senate Finance Committee last week completed its rate revision of the Hawley-Smoot tariff bill, made public its handiwork. Its Republican members then took up the administrative provisions of the measure, which, by the system of valuation determined upon, will point the entire legislation up or down...
...event that started the dream was a great communications merger in England, the formation of Cables & Wireless Ltd., the stock of which was traded in for the first time last month. Into that merger the British poured four great cable systems (including one government-owned), the government beam wireless system and the great British Marconi Co. The merger has a huge liquid capital. It owns cable and wireless systems which girdle the globe...
...only U. S. company which rivals this British monster of communications is I. T. & T. This company started out to become another A. T. & T., but in foreign parts. It brought together telephone systems in Cuba, Porto Rico, Spain, Mexico, Chile, Argentina, Uruguay, Brazil. Then able Colonel Sosthenes Behn went a step further. He added to I. T. & T. first the All American Cables, then the Mackay System (Postal Telegraph, Commercial Cables, Mackay Radio). Now he does business by telephone, cable and radio in most parts of the world. He has arranged to acquire, if and when Congress permits...