Word: tariff
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...voted for: War (1917), the 18th Amendment (1917), the Volstead Act (1919), the tariff (1922, 1930), tax reduction (1924, 1929), the Transportation Act (1920), the Soldiers' Bonus (1924), Reapportionment (1929), Restrictive Immigration...
...views on the tariff are unquestionably enlightened and heartily to be commended. The tariff question in its essentials is simple and what we need is a "little horse sense" in dealing with it. Mr. Roosevelt points out with commendable clarity that America cannot continue to sell goods unless we are willing to take in exchange the products of other nations. Economists have been repeating this advice for years and eventually it will become apparent to every one; meanwhile it is encouraging to see a candidate for the presidency come out with unequivocal acceptance of a sound policy on an issue...
...tariff policy, however, has been molded, in the main, not by the masses of the voters but by a relatively small number of business leaders. Is it unreasonable to expect these men to perceive that extreme protection practiced by a large creditor nation works very differential from the same policy pursued by a debtor nation...
Every depression is bound temporarily to diminish our lending; a continuation of our present tariff policy will mean that we shall intensify future depressions, an we have the present one, by attracting gold which the rest of the world can ill afford to lose and by menacing the stability of many weak currencies. In addition, we shall retard the revival of business, because the countries which have been forced off the gold standard or which have had the stability of their currencies seriously threatened, will, even after the revival is under way, not easily obtain credit to but goods from...
...outlook for a general reduction in tariffs, either our own or of other countries, is not bright. The League of Nations has failed to effect even a temporary tariff truce. The best hope appears to lie in the method of reciprocal agreements--either bilateral, as in the case of the recent agreement between Australia and Canada, or possibly multilateral--by which reductions are given in exchange for reductions...