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To: Lincarhamus

Sorry, but you're fooling yourself if you believe McKinley's rhetoric about the 1890 tariff. The bill was DELIBERATELY designed to reduce the revenue surplus. Of course McKinley didn't say it. He wasn't as stupid as you would have us believe.

Your statistics on late 1890's growth tell nothing of a tariff's effect upon the economy. The Dingley tariff came in 1897 and didn't have any effect until well thereafter, and that with a war intervening. Rather, the late 1890s growth was a result of the Wilson-Gorman tariff instead of the Dingley. (Your doom scenario for Cleveland's preferred tariff is unprovable and thus irrelevant).

As for Smoot-Hawley, do not discount its effect upon the automobile industry. And do not discount the effect of the automobile industry upon the national economy. For all his faults, FDR never made that mistake.


448 posted on 08/17/2005 5:40:59 PM PDT by nicollo (All economics are politics.)
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