Word: valorem
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Godfather of the U. S. lace industry was the late Senator Nelson Wilmarth Aldrich of Rhode Island, where 41% of the industry is now located. He it was who wrote into the Tariff Act of 1909 a 70% ad valorem duty on. imported lace. Because the U. S. could not easily build the amazingly complex lace-making machines that British manufacturers had been making for a century, the famed Rhode Island protectionist thoughtfully included a provision that machines might be imported duty free for a period of 18 months. Hundreds of machines were hastily installed. Because U. S. labor could...
...Tariff of 1913 lace duties were cut to 60%, and the whole industry nearly went bankrupt. However, it was saved by the War, which shut off imports from Europe, and in the Fordney-McCumber Tariff Act of 1922 the duty was boosted to the present rate-90%, highest ad valorem duty...
...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...