Word: tariffers
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...have the answer. TIME sticks to the facts. It was all caused by the Smoot-Hawley Tariff in June 1930. What happened before that just didn't matter. "The depression . . . deepened. England went off gold. In the U.S. men sold apples on the street corners" [TIME...
...fair with the dead. Mr. Smoot didn't cause "World War II," nor did the passage of the tariff bill...
...most enormous acts of isolationism in U.S. history was committed in June 1930: passage of the Smoot-Hawley Tariff Act. Its purpose was to give U.S. producers a noncompetitive monopoly of the U.S. market, regardless of the consequences abroad. It was the brain-child of Utah's Senator Reed Smoot, a Mormon Apostle, and of Oregon's Willis Chatman Hawley, a slow-witted, powerful man, once a champion woodcutter in Oregon, who had risen from the post of principal of Umpqua Academy at Wilbur, Ore. to the chairmanship of the House Ways & Means Committee...
...bill was 14 months in preparation. The Tariff Commission submitted 2,750 pages of data; 11,000 pages of tables and data filled the printed hearings, in which Hawley listened to 1,131 witnesses, Smoot, to 1,232; 2,800 pages of the Congressional Record recorded the debate. The bill raised tariff rates on more than 650 articles, some of them to the highest level in U.S. history. As the bill passed, a Tennessee Congressman named Cordell Hull, famed for his persistent 23-year-long losing fight for freedom of trade, wept...
...billion dollars to 1932,s nothing. England went off gold. In the U.S. men sold apples on street corners; the Bonus Army marched on Washington. Into power in Germany came a nervous, harsh-voiced, twisted genius named Adolf Hitler. Economic nationalism, forced into full flower by the Smoot-Hawley Tariff, became the physical basis for the ideology of Fascism. The lines were written, the stage was set for World...