Show ASK HOOVER T TO GUT CUT TARiff Petition Blames Embargo Rates Bates For Killing Foreign Trade Think Nation Want Vant To Trade Their Ther- Wheat hent For Our Wheat Etc President Hoover was was asked to open negotiations with foreign nations to reduce the virtual embargo embargo embargo em em- bargo tariff rates now in effect in a petition presented to him at atthe atthe atthe the White House signed by economists representing 63 colleges colleges colleges col col- leges and universities In all aU parts of the country It also asked the president to use his powers under the flexible tariff provisions to reduce Inequalities inequalities Inequalities In equalities of the Smoot-Hawley Smoot act Everyone who signed this petition petition petition peti peti- tion also joined in the petition to the president asking him to veto the Hawley Smoot-Hawley bill when It was placed before him two years I ago The petition said that this measure was responsible for retaliatory retaliatory re re- retaliatory re- re rates and had brought about the disaster to foreign trade predicted at that time It was presented to the president after his defense of the tariff in his Cleveland speech last night I It seems clear to us that re recovery recovery re- re II covery from the either in this country or abroad will be I extremely difficult and greatly retarded re re- excessive and arbitrary arbitrary ar ar- restrict restrictions ons are imposed on the commerce of the world oper oper- operating sting aUng as a virtual embargo against mutually profitable exchange of goods from one country to another er the petition said The presidential office Is vested vested vested vest vest- ed with power through negotiations negotiations negotiations and conference to remove unfair and discriminatory trade trade barriers and to promote the reduction of excessive tariff duties by diplomatic action the petition declared We respectfully petition you after three years of depression to institute such negotiations without without without with with- out fu further ther delay Appealing for reduction through th the e flexible tariff powers of Inequalities ine Ine- Inequalities qualities in the Smoot-Hawley Smoot act especially those which are ate causing retaliations abroad the petition concluded We Ve urge such action convinced that it is of supreme public interest interest interest inter inter- est to the United States and essential es essential es- es essential to recovery The petition explained that while the has power to change rates 50 per cent under the flexible provisions that lessI less I than one reduction a month hasI has been ordered out of thousands of I rates in the act I our foreign trade has shrunk in value of exports from 52 in 1929 to in 1931 it added For the first eight months of 1932 our exports have been further fur- fur ther they reduced below the same period in 1931 The economists declared the record is conclusive that the 1922 Fordney act and the Smoot Hawley act foreign nations to enact retaliatory retaliatory tory tariffs directly aimed at the tho American producer Such they said were the Canadian Canadian Canadian Cana Cana- dian tariff imposed six months after the passage of the Smoot- Smoot Hawley bill and the British tariff frankly designed to meet the rates in our 1930 tariff act The economists economists economists econ econ- also cited the tariff barriers barriers barriers bar bar- approved for the British empire empire empire em em- pire at the recent Ottawa confer confer- ence |