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10 Cards in this Set
- Front
- Back
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When was the Fordney McCumber Act introduced?
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1922
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What did Wilson believe in?
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LOW tariffs
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What did Wilson do to tarrifs?
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He had REDUCED them and REFUSED to increase them
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What was increasing?
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However, the DEMAND for higher tarrifs was INCREASING
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What did Harding do when he became president?
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He passed an EMERGENCY TARRIF
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What did the emergency tarrif do?
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INCREASED the DUTIES on food IMPORTS
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What were the two principles of the Fordney McCumber Tarrif?
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SCIENTIFIC TARRIF, and AMERICAN SELLING PRICE
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What did the Scientific Tarrif link?
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TARRIFS to WAGES in the COUNTRY of EXPORT
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What would happen if the wages in an area were low?
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The would be given a PROPORTIONALLY HIGHER TARRIF
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What did the nulled effect do?
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LOWERED WAGES in competitor COUNTRIES
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