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Millions in Trade Lost As Result of Tariff ActN the first four months of this year, under the tariff rates of the Smoot-Hawley act, our foreign trade fell off by more than half a billion dollars. Except for a few spurts upward, our exports have beensteadily slipping ever since the tariff bill became law a year ago.The most sensational decreases have taken place in the last six oreight months.The value of exports under the new rates in the first full fourmonths they were effective was half a billion dollars below the same period of 1929.These figures, giving the values in thousands of dollars, tell thestory:1929 1930Julv.............................. 402,861 266,761August ........................... 380,564 397.765September ....................... 437.163 312,207October .......................... 528,514 326.896And, for the first four months of 1931. our exports were worth $534,-103,000 less than for the same period of 1930, as these figures show:1930 1931January.......................... 410,849 249,642February......................... 348.852 224,342March ........................... 369,549 235,895AprU............................. 331.732 217,000In these same four months of 1931 our imports have decreased in value by $445,580,000, as these figures reveal:1930 1931January.......................... 310,968 183,133February ......................... 281.707 174,946March............................ 300,460 210.200April ............................. 307,824 187,000Tariff collections during the first full three months to which the new tariff rates applied amounted to $94,937,162, more than $60,000,000 under the same period of 1929.The new and higher rates cannot be blamed for all of this decrease,but they were undoubtedly one of the major factors.
Newspaper Details
El Paso Times
El Paso, Texas, US
Wed, Jun 17, 1931
Page 1
Full Page
Clipped by
Steven M.
NJ, USA 12 Aug 2021
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