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03-4-41 LS

Cont

Supt, Doc.
6-15-34

CONTENTS

Page

159

216

Higgins, John E., representing the Amalgamated Lace Operatives of
America

237

Hood, Robert, representing the National Cooperative Council_
Hull, Cordell, Hon., Secretary of State__

318

Johns, A. A., representing the Arizona Wool Growers

Kendrick, T. Frank, representing the Knitted Elastic Manufacturers
Association.

Lerch, John G., representing the American Tariff League__

Lombard, V. G., representing the Calf Tanners Association_

Loomis, Á. M., representing the National Dairy Union...

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Statement of-Continued.

Lozier, Ralph, Hon., Representative in Congress from the State of
Missouri (brief).

Marshall, F. R., representing the National Wool Growers Association_
Masson, Stevenson, Baltimore, Md. (brief)

Page

393

243

407

253

207

288

Theis, Frank H., Chief, Grain Section, Agricultural Adjustment Ad-
ministration_

107

Turner, Charles H., representing the National Association of Lace
Curtain Manufacturers-

230

Wood, Edward S., representing the Steel Pen Manufacturers of the
United States of America_

210

RECIPROCAL TRADE AGREEMENTS

THURSDAY, APRIL 26, 1934

UNITED STATES SENATE,
COMMITTEE ON FINANCE,
Washington, D.C.

The committee met, pursuant to call at 10 a.m., in room 312, Senate Office Building, Senator Pat Harrison (chairman) presiding. Present: Senators Harrison (chairman), King, George, Walsh, Barkley, Connally, Gore, Costigan, Clark, Byrd, Lonergan, Reed, Couzens, Keyes, Metcalf, Hastings, and Walcott.

The committee had under consideration H.R. 8687, being an act to amend the Tariff Act of 1930, which is as follows:

[H.R. 8687, 73d Cong., 2d sess.]

AN ACT to amend the Tariff Act of 1930

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Tariff Act of 1930 is amended by adding at the end of Title III the following:

"PART III.--PROMOTION OF FOREIGN TRADE

"Sec. 350. (a) For the purpose of expanding foreign markets for the products of the United States (as a means of assisting in restoring the American standard of living, in overcoming domestic unemployment and the present economic depression, in increasing the purchasing power of the American public in the present emergency, and in establishing and maintaining a better relationship among various branches of American agriculture, industry, mining, and commerce) by regulating the admission of foreign goods into the United States in accordance with the characteristics and needs of various branches of American production, so that foreign markets will be made available to those branches of American production which require and are capable of developing such outlets by affording corresponding market opportunities for foreign products in the United States, the President, whenever he finds that any existing duties or other import restrictions are unduly burdening and restricting the foreign trade of the United States or that the purpose above declared will be promoted by the use of the powers herein conferred, is authorized from time to time-

"(1) To enter into foreign trade agreements with foreign governments or instrumentalities thereof; and

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'(2) To proclaim such modifications of existing duties and other import restrictions, or such additional import restrictions, or such continuance, and for such minimum periods, of existing customs or excise treatment of any article covered by foreign trade agreements, as are required or appropriate to carry out any foreign trade agreement that the President has entered into hereunder. No proclamation shall be made increasing or decreasing by more than 50 per centum any existing rate of duty or transferring any article between the dutiable and free lists. The proclaimed duties and other import restrictions shall apply to articles the growth, produce, or manufacture of all foreign countries, whether imported directly or indirectly, except that nothing in this section shall be construed to prevent the granting of exclusive preferential treatment to articles the growth, produce, or manufacture of the Republic of Cuba: Provided, That the President may suspend the application to articles the growth, produce, or manufacture of any country because of its discriminatory treatment of American commerce or because of other acts or policies which in his opinion tend to defeat the

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