Word: tariff
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...international field. Money to pay farmers to cut their crop production and thus boost prices was to have been raised by a tax on processors of wheat, cotton, corn, rice, hogs, tobacco and dairy products. To be effective domestically such a tax had to be counterbalanced by special tariff increase. Thus if a 2? per Ib. tax was placed on butter, 2?would have to be added to the regular butter duty to prevent importers from underselling the U. S. market. But President Roosevelt had agreed without reservations to a general tariff truce, accepted last week by seven powers...
...disarmament proposals at Geneva, because the two countries have long seen eye to eye on most international issues, President Roosevelt and Minister Jung got on famously. President Roosevelt's principal objective prior to the June 12 opening of the conference in London is an all-round tariff truce so that all nations will start from the present scratch. Minister Jung gladly embraced this proposal. The Italian envoy argued that military disarmament must go hand in hand with economic disarmament. To this President Roosevelt heartily assented. They also agreed that "a fixed measure of exchange values must be re-established...
...committee to cut the dollar's gold coverage from 40% to 35% or 30% and make up the difference in silver. He is now being considered by President Roosevelt as Undersecretary of the Treasury. Mr. Taussig's sugar business has given him wide knowledge of trade and tariff problems, on which President Roosevelt has drawn heavily. Also 36, he is smooth, polished, clever. The job of the sub-experts was to nail down indisputable facts with the foreign experts and pass their composite work along to the White House. What was the world silver situation? Dr. Moley & colleagues...
...Secretary of Agriculture. Dr. Moley helped draft the currency inflation bill which strips Congress of most of its constitutional power to regulate the value of money. Soon Congress is expected to be asked to pass over to the White House, under this Moley device, its authority over tariff rates and War Debt payments. In two months Political Scientist Moley has found a way to concentrate in the hands of the President greater executive power than ever before in U. S. history. That fact alone explains why Professor Moley is viewed with alarm on Capitol Hill...
...opening of the World Economic Conference, the United States delegation will ask the Governments represented to join in an agreement to refrain during the period of the economic truce from making any material upward modification of tariff rates or enhancing any restrictions . . . against the importation of goods which would give domestic producers additional advantages over foreign producers...