Word: tariffers
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...natural nitrates should sell higher than the synthetic product. But unbudgeable was Dr. Hermann Schmitz of Germany's I. G. Farben-industrie (who last week became all Germany's financial mentor-see p. 15). When Dr. Schmitz suddenly revealed that Germany had placed a prohibitive tariff on Chilean nitrates the South American nation withdrew from the cartel. For one more night the other nations wrangled among themselves, then gave up. Competition, free and bitter, reigns in the nitrate world...
...week, showed stocks of copper at a new high for the third successive month. They stood at 413,000 tons against 398,000 at the end of May, 316,000 a year ago, 45,000 in October 1928. It was understood that differences of opinion over the proposed copper tariff have caused all production agreements to be abandoned...
...stand unchanged six (ultramarine blue, wool floor coverings, pipes, pipe bowls, cigar and cigaret holders). The Commission's recommendation to cut the rates on canning tomatoes, tomato paste and cherries, sulphured or in brine, President Hoover rejected. Last week's flexing made the President's tariff score: rates cut, 11; rates upped, 6; rates unchanged, 14; total, 31. There are 3,200 articles listed in the Tariff...
Critics of the Republican tariff last week flaunted in the Administration's face this extravagant forecast made by Indiana's Senator James Eli Watson, Republican leader, in June 1930. "It is my prediction today, deliberately made on the floor of the Senate, that after the passage of this [Hawley-Smoot] bill . . . this nation will be on the upgrade, financially, economically and commercially within 30 days, and that within a year from this time we shall have regained the peak of prosperity we lost last October...
...that the next Congress would legislate to free the islands. His only hope, he said, was that President Hoover would veto such a bill. Philippine independence, according to the Senator, now commands a Congressional majority because members from farm districts want to put the islands outside the U. S. tariff and thus eliminate their competition with domestic vegetable oils and sugar. Declared Senator Bingham: "The Filipinos' chief grievance against American occupaton is that some American officials do not practice the Golden Rule with regard to social equality...