Word: tariff
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...angry, bull-necked Argentine denounced the U. S. Tariff last week in words so strong that the U. S. State Department grew worried. Half a dozen other speakers at the National Foreign Trade Council convention in Manhattan last week sided with him. From his bountiful cornucopia of good cheer Dr. Julius Klein, Assistant Secretary of Commerce, poured reassuring Tariff figures with which to uphold the Hoover Administration. When the Council adjourned and drew up its annual, lengthy, vague resolution, the fighting word "tariff" did not appear...
...economics things are not easily clarified. Even were the rivers of trade flowing smoothly it would be difficult to gauge what effect the Hawley-Smoot Tariff with its 20%, damming up has had on their courses. With Depression's storm agitating the rivers, translation of direct cause into direct effect is hazardous. Yet the Tariff issue remains big, promises to be 1932'$ political common denominator. Taking advantage of the flexibility clause, interested parties have caused 12 revisions since the bill passed, have had 181 applications turned down. A turndown last week was given to Brooks Bros., old-time Manhattan haberdashery...
Never has discussion of the Hawley-Smoot Tariff died down. Soon after it was passed, many big exporters, notably automobile men (biggest manufacturing industry), wailed their fears of foreign reprisals. Most drastic and clean-cut fulfillment of these fears came when Canada, biggest U. S. customer, frankly upped all her rates to match. France and England, though taking no action (except on cinemas in France), complained so loudly that much ill-will was bred. Australia's almost complete embargo was a nationalistic move after the U. S. pattern. Only a series of revolutions have checked wall-building in South America...
...days ago Litvinoff addressed the conference on the subject of the world's present condition. Advocating his pact for economic non-aggression, he held the attention of the entire body of delegates with an analysis of the post-warera. Reparations settlements, high tariff barriers, unprecedented unemployment, and disproportionate distribution of the world's gold supply the speaker cited as the chief reasons for our present uneasy international feelings...
Briand's future in world affairs is attracting equal attention, while from Czechoslovakia are heard rumbling that country's hopes in the way of reaching tariff agreements with other nations. France has intimated her approval and also a willingness financially to assist in reaching customs accord. Capitalism, communism, a union between European countries, the general betterment of the world's economic and social conditions,--these are the plots of Geneva's present-day drama, while the actors are a group of men whose international cordiality is perhaps the most unusual factor in the cosmos...