Word: tariff
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...second possible issue uncovered is the high tariff-an old issue but in a new guise. Congressman Cordell Hull, onetime Chairman of the Democratic National Committee, last week issued a statement, as a sort of trial balloon no doubt, linking the high tariff with failure to get 100 cents on a dollar in payment on War debts from Europe. His argument in substance: In settling the Italian Debt the U.S. was forced to agree to such cutting that the U.S. loses from $2,500,000,000 to $3,000,000,000† The reason the Italian Debt...
...existing high tariff law virtually eliminates the factor of payment in goods by Italy. The new policy which this settlement proposes, therefore, is that as an alternative of cutting our extortionate high tariff to a moderate extent or cutting our foreign debts to a correspondingly greater extent, we adopt the latter course. This policy would, for 62 years, penalize American taxpayers with continued high tariff taxes in the form of increased prices and also with the amount by which the Italian debt has been scaled...
...significance of this argument is not that the Democrats are likely to oppose the debt settlements, but that they will use the debt settlements as a text in talking about the tariff, thus preparing an issue...
...Cheng Ting Wang, Yale graduate who presented the Chinese demands a fortnight ago (TIME, Nov. 9), declared: "The American proposals offer a most promising basis for the settlement of the tariff question...
...China have been levying "special taxes" of their own which are double or triple the "likin." The fact that the Tuchuns are strong and do as they like, despite the feeble reproofs of the Peking Government, is of course the great argument advanced by Britain in contending that tariff autonomy cannot be proximately granted to China...