Word: tariffers
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Signing the sugar control bill (TIME, April 30), the President ordered the duty on Cuban sugar cut from 2? to 1½?a lb. with the proviso that the processing tax imposed should not exceed the tariff cut. Also signed was the Revenue...
...Last week the experts had something to show. Austria and Italy had agreed to buy most of Hungary's surplus wheat at a fixed minimum price of 92.6? a bu.; Hungary and Italy, to buy Austria's lumber and wood-pulp; Austria and Hungary to lower tariffs 10% on any goods that pass through Italy's ports of Fiume and Trieste; Hungary to give Austria and Italy big tariff preferences...
...Japan. Then came Depression, the Gandhi anti-British boy, depreciation of the yen. Japanese cotton sales to India rose "and rose until by 1932 they not only passed Britain but were cutting seriously into the sales of the Indian mills. In 1933 the Indian Government increased the tariff on foreign cotton goods, which was mostly Japanese, to 5%, set the duty on British cotton at 25%. It did not stop the flood and Japan struck sharply back. Her spinners voted to buy no more raw cotton from India Last winter British, Indian and Japanese cotton manufacturers met in Simla, patched...
...impassioned oratory that attracted the coat-room habitues to the Senate Chamber and stilled the small talk in the galleries, Sonator Borah, swerving from a discussion of policy concerning the delegation of tariff powers to the President, today became the embattled defender of the Ship of State and the Constitution. Taking his cue from Oliver Wendell Holmes' stirring plea to save the Constitution's sea-going namesake from being ignominiously scuttled, the Senator from Idaho invoked all the sentimental balderdash at his command to keep the leaky old frigate and its battery of muzzle-loaders in the first line...
...which, being framed in an emergency one hundred and fifty years ago, as the Senator himself admits, is admittedly an imperfect instrument and subject, like all the works of man, to the wear and tear of circumstance. Although it may be true that permitting the President to exercise discretionary tariff powers is equivalent to handing him some of the taxing power, as Senator Borah avers, this does not mean, as the Senator further go by the Democracy must forthwith go by the board. In England, where the doctrine of Cabinet responsibility permits the Prime Minister to exercise practically dictatorial powers...