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High-tariff Republicans call Cordell Hull a free-trader. He calls himself a Jeffersonian Democrat committed to tariff-for-revenue-only. In 1910 he damned the Payne-Aldrich law as "a miserable travesty, an ill-designed patchwork, a piece of brazen legislative jobbery" and in 1932 he flayed the Hawley-Smoot act as "utterly disastrous to our trade." Long an advocate of tariff reciprocity, he wrote that plank into the last Democratic platform. As President Roosevelt's Secretary of State his job will be to negotiate tariff treaties. Senator Hull's world views: "The mad pursuit of economic...

Author: /time Magazine | Title: THE CABINET: Roosevelt's Ten | 3/6/1933 | See Source »

Sentenced. Film Actor Duncan Renaldo, 28 (Trader Horn, Bridge of San Luis Rey) ; to two years in Federal Penitentiary and $2,000 fine for falsifying his passport, swearing to it; in Los Angeles. Renaldo claimed Camden (N. J.) birth, the U. S. showed "overwhelming" evidence of Rumanian birth, planned deportation proceedings...

Author: /time Magazine | Title: Milestones: Milestones: Jan. 23, 1933 | 1/23/1933 | See Source »

Jesse Livermore, a friend from pre-War days in Chicago, Broker Block has called "the gamest and cleverest trader alive." Durant he said was "as square a man as you'll ever know, and when his friends are losing he is losing more than any of them." Broker Block ought to know; he helped Durant throw away a $90,000,000 fortune trying to support General Motors' stock in the 1920 crash. But Bull Durant fell out with Broker Block two years ago when his account was sold out. Early this year he sued for $378,000, claiming he loaned...

Author: /time Magazine | Title: Business: Block Out | 12/26/1932 | See Source »

Bull Cutten, who has been an independent trader for 26 years and has never lost as much money as he has made, was ostensibly writing an autobiographical narrative, "The Story of a Speculator." The first of three installments told of his boyhood in Guelph, Ont. his going to Chicago, his first contacts with the Pit and how he learned to "sweat blood" when prices moved against him. But woven through the story was his defense of speculation, his malediction of all regulations that impede...

Author: /time Magazine | Title: Business & Finance: In Praise of Speculation | 11/28/1932 | See Source »

...witness of the story is Dr. Saunders, an Englishman who for some English reason is a pariah to his kind and has become an opium-smoking, suspiciously bachelor dweller among Chinese. An able eye specialist, he has a large practice. On a lucrative visit to a far-away trader, he runs into two dubious Australians, gets a lift on their lugger to another island. Captain Nichols, skipper of the boat, is a shifty but unashamed scoundrel. Blake is a nice-looking youngster with a secret on his mind. When a gale blows them to Kanda, a beautiful and peaceful island...

Author: /time Magazine | Title: Books: East of Suez | 11/14/1932 | See Source »

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