Smoot-Hawley Tariff Act - Wikipedia, the free encyclopedia
October 2nd 2008 by angol in EconomicsHistory Repeating itself watch!
A petition was signed by 1028 economists in the United States asking President Hoover to veto the legislation, organized by Paul Douglas, Irving Fisher, James TFG Wood, Frank Graham, Ernest Patterson, Henry Seager, Frank Taussig, and Clair Wilcox.[5] Automobile executive Henry Ford spent an evening at the White House trying to convince Hoover to veto the bill, calling it “an economic stupidity”.[6]J.P.Morgan’s Thomas Lamont said he “almost went down on my knees to beg Herbert Hoover to veto the asinine Hawley-Smoot tariff,”[7]
