Word: tariff
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...charge: that G.E. and its subsidiary, International General Electric Co., Inc., have conspired for many years to restrain trade through cartel agreements with six foreign firms. Allegedly violated were the Sherman Antitrust Act and the Wilson Tariff Act, which applies many Sherman Act provisions to foreign trade...
...full-employment policy. Sir William regards worldwide multilateral trading as the ideal. But the ideal can be attained only if all other important industrial nations also achieve full employment. Depressions, he states, as well as prosperity. are spread by multilateral trade. Other prerequisites for the ideal system: stable tariff and monetary policies. If multilateral trade cannot be secured on these conditions, then Britain should aim at regional arrangements. And if those fail, it is better to make bilateral bargains with raw-material producers. Whatever the form of trade, Sir William foresees increased Government control of capital, exchanges and imports...
Said Perkins: "We Americans preach free competition but we don't really practice what we preach. We moralize about the competitive way, and then cling to tariff schedules so high that foreign businessmen cannot enter the U.S. market. . . . A sizable part of American business will want to join cartels after the war to protect its domestic market, and . . . popular opinion will back such a move [because] we are still under the delusion that the way to be prosperous is to sell as much as we can abroad and to buy as little as we can from abroad...
...told farmers that their troubles were due to the fact that the farmer had to buy in a tariff-protected market, sell in competition with "the peon workers of the Argentine. . . ." For this familiar complaint John Bracken, who is a farmer himself, had a brand-new farmer's remedy-he would replace such agricultural aids as guaranteed floor prices and special subsidy payments with a basic formula: let farm prices be fixed in advance of each crop year at levels high enough to guarantee the farmers "their proportionate share of the national income...
Banker Aldrich began modestly and well: the U.S. and the British should "enter into immediate conversations on such problems as tariff barriers, imperial preference, export subsidies, bulk purchasing and regional currency arrangements. . . . We must be prepared to effect substantial reductions in our tariff rates." But then, he said, the U.S. must also be prepared to hand Britain a "grant-in-aid" to stabilize the pound. "The sum may be large," said Banker Aldrich dreamily. The U.S. must also open its purse wide, through the Export-Import Bank, to borrowers from all the nations of the world. How much would this...