Word: valorem
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Dates: during 1930-1939
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...basically fat and caustic soda.† The trade paper Soap estimates that U. S. soap makers last year used 1,500,000,000 lb. of fats, of which two-thirds came from beyond the seas. At present prices the 3? tax amounts on the average to a 100% ad valorem levy. All soap makers use some imported fats, and they bluntly declare that the new impost will add 25% to the price of a cake of soap...
...Canadian products now duty free, reserving the right to impose duties after three years on dairy products; 2) preference to Canada by imposing duties on foreign dairy products, certain fruits, unwrought copper (2d. a lb.), wheat (25. a quarter, or 6¢ a bushel); 3) continuation of the 10% ad valorem duty on foreign timber, zinc, lead, asbestos, fish (Canada had wanted the tariff on timber increased); 4) a ten-year extension of the preference on Canadian tobacco...
...banking system with State currency issued against cotton and wheat; 3) abolition of ad valorem taxes on homes and farms; 4) maximum income taxes on "excess salaries of corporation managers"; 5) impeachment for Federal judges who abuse the power of jurisdiction; 6) conscription of money as well as men in the next war; 7) full payment of the soldier bonus; 8) coinage of "enough gold and silver to meet normal demands"; 9) tariff reduction. Adopting this platform, delegates loudly declared that "the great battle of 1932 is America against Wall Street, special interests and predatory wealth." Governor Murray loosed...
Thus did Neville Chamberlain, Great Britain's Chancellor of the Exchequer, serve notice on the world last week that 86 years of British free trade were at an end. Effective March i, Britain will impose a 10% ad valorem tariff on all articles not already taxed except meat, wheat, raw cotton, raw wool, tea. British-caught fish and (until after the Imperial Economic Conference at Ottawa in July) exports from British colonies and dominions...
...Wednesday, Nov. 25, upped the tariff on several hundred articles (all of interest to U. S. exporters have been enumerated) not by 100% as the Board of Trade was entitled to do, but by 50%. In Washington the sky-high altitude of the present U. S. tariff, with ad valorem duties running up to 80% and exceeding 50% in most cases, was admitted last week to be so great that further upping in ''retaliation'' against Britain would be impracticable. What many a Runciman in the Empire hopes is that temporary British tariffs will force...