The wrong shadow of Smoot-Hawley. (US commercial policy)

The New Leader | January 11, 1988| | Copyright

The Wrong Shadow of Smoot-Hawley

THE SPECTER of Smoot-Hawley is haunting Washington. It is numbing thought, paralyzing action and speeding the United States toward a genuine depression. The old ghost has risen from the grave in response to the recent scare on Wall Street. The word is out that enactment of any "protectionist" legislation at present will bring on a crash, as Smoot-Hawley did some 60 years ago. More specifically, the pending "omnibus" trade bill that would empower the President to take retaliatory action if a nation discriminates against American ...

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