Word: tariff
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...optimistic predictions of an early return of prosperity. The President, after setting May for the end of the business slump, saw his forecasts go all awry. Even Secretary of Labor James John Davis, the most irrepressibly cheery prophet, has grown silent on the economic future. Democratic delay on the tariff bill was recurrently cited by Republicans as the reason for unsettled business. They prophesied a quick upturn as soon as that measure was out of the way. The new tariff became law June 17. But July, according fo figures given out by members of the Administration last week, failed...
...shipped out goods worth $402,000,000; this year, $269,000,000. Imports likewise fell off $133,000,000 for the same month this year and last. The Department of Commerce explained the declines as due to world-wide economic depression. Critics of the Hawley-Smoot Tariff Act recalled their predictions that the high rates of that measure would have no immediate and severe effect upon U. S. foreign trade...
...first Federal inheritance tax law (1916). The 1920 G. O. P. landslide retired him for two years. For three years (1921-24) he served as chairman of the Democratic National Committee. Back in the House he led a dwindling Democratic band opposed to any form of protective tariff. In 1928 he was Tennessee's "favorite son" at the Houston convention. Cautious in speech and action, he rates high for sense and ability in the House. His graduation to the Senate has long seemed politically logical...
...great volume from Isotta's Italian factories. To handle the plan, a new $5,000,000 company is said to have been formed in Italy, 51% owned by Isotta Fraschini Co. and the Italian Commercial Bank, 49% by Ford. In this exchange of licenses is perhaps the neatest tariff evasion yet devised...
...When the tariff on Cuban sugar was raised this year from 1.76? to 2? per lb., pros and antis agreed on the probable result. Said the pros (mostly U. S. sugar-beet growers): sugar imports will drop, a young U. S. industry will thrive lustily. Said the antis (led by potent Manhattan bankers with investments in Cuba): in competition with duty-free Hawaii, Porto Rico, the Philippines, Virgin Islands, Cuba will be ruined...