Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Dane
Yep the Smoot-Hawley tariffs Hoover signed in 1930, helped worsen the depression by starting a trade war.

So the Depression was worsened because Americans couldn't buy goods from other countries? Do you have any facts to back that up?
68 posted on 08/13/2003 11:16:43 PM PDT by lelio
[ Post Reply | Private Reply | To 64 | View Replies ]


To: lelio
So the Depression was worsened because Americans couldn't buy goods from other countries? Do you have any facts to back that up?

While the consequences of the Smoot-Hawley Tariff have been a subject of dispute, few would deny that it stimulated a cascade of retaliatory tariffs by foreign governments which made it very hard for American businessmen and farmers to sell goods overseas. This took the American economy, already staggering after the Stock Market Crash of 1929, and shot it in the knee. The Smoot-Hawley Tariff may not have caused the Great Depression but it made it matters much worse.

When the Democrats returned to power they slowly began to reduce tariff rates and the Republicans with few exceptions have abandoned protectionism. Today, for the most part both political parties assert that government tariffs that either fatten the profits of poorly run businesses or keep alive jobs that do not make economic sense anymore, cheat the vast majority of Americans of the benefits of affordable goods and make it harder for us to sell our products overseas.

So it looks like it was your precious Roosevelt, Mr. New Dealer, who helped roll back tariffs.

LINK

74 posted on 08/13/2003 11:36:06 PM PDT by Dane
[ Post Reply | Private Reply | To 68 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson