Word: tariff
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President Hoover at last declared himself on the Tariff Act of 1930. He said he would sign it. Though he had been described as "open-minded" on the measure and determined to subject it to expert study beforehand, he did not wait for the bill to reach his desk before proclaiming his intention of approving it. While the measure was still waiting in the Senate for its last formality-the signature of Vice President Curtis-astonished newsmen at the White House were handed a typed statement in which President Hoover declared...
...shall approve the tariff bill. . . . This tariff law like all others . . . contains many compromises. . . . No tariff bill has ever been . . . perfect. It is bound to contain some inequalities and inequitable compromises. ... A new basis for the flexible tariff . . . has been incorporated in this law. Thereby the means are established for objective and judicial review of rates...
French Threat. Antitariff feeling against the U. S. ran particularly high in France. There U. S. Ambassador Walter Evans Edge who as a New Jersey Senator had consistently voted for all maximum duties, got a bitter taste of the foreign by-product of his party's tariff policy. Last week at a Chamber of Commerce dinner in the Roubaix-Tourcoing woolen district, Ambassador Edge heard this direct threat from a potent French speaker: "European nations stand together on one point-if the United States closes her markets, these countries will consider themselves justified in following the same steps...
...Unprofitable venture." High-tariff Republicans in Congress could see nothing but the self-interest of foreign producers in these threats of tariff reprisals. Chairman Hawley of the House Ways & Means Committee voiced this congressional complaisance as follows...
...tariff as an American problem. . . This is the largest market in the world and it is a cash market. . . . The nations of the world of course desire to trade in this market to the fullest extent and of course would like to have our tariff barriers removed so that they could ship their goods made by low-priced labor to this country in enormous quantities. . . , In the long run they will find tariff reprisals an unprofitable venture...