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    "label": "Draft Press Release of Speech",
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    "contentType": "document",
    "title": "Draft Press Release of Speech",
    "citationUrl": "https://catalog.archives.gov/id/210023504",
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            "logicalDate": "1934-09-01",
            "month": 9,
            "year": 1934
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    "ocrText": "(9)\nthe public of their savings. still other rugged individuals seiz-\ned control of the government.\n\"\nSenator Patterson and other rugged individuals in Congress were\nresponsible for the Hawley-Smoot tariff law,which raised tariff\nrates from an average of slightly more than 22 per cent to an av-\nerage of 45 per cent.\n! This bill was introduced in Congress as a purely agricultural\nrelief bill, to equalize rates on farm goods with those on indus-\ntrial goods. This was a sop to the farmsers, who had been thrown\nout of the Republican national convention by Republican Kansas\nCity police when they appeared to state their grievances and asked\nfor relief.\n\"\nTwice President Coolidge had refused the farmers the equalizat-\nion fee. Hoover threatened to veto any bill with a debenture feat-\nure. When this feature appeared in the bill in the Senate, Senator\nPatterson voted to kill it. Rugged individuals among the manufact-\nurers who already were enjoying high tariffs, took charge of Hoover\nand Congress and passed this heinous bill. It raised the tariff\nwall so high foreign nations could no longer trade with us. It oc-\ncasioned the Wall Street collapse and after that the economic col-\nlapse of the world,so badly shaken had world trade and exchange\nbecome because of its influences.\n\"\nTwelve great agricultural organizations, representing more than\n2 million farmers, implored Hoover not to sign the bill. More than\n1,000 noted American economists asked the former president not to\nsign it; that it would destroy world taade. This it did. By ending\nour large volume of export, the market for our surplus farm products\nwas lost,as well as that of American industry.\n\" It perhaps is not necessary to recapitulate the disgraceful\nscenes in Congress during debate on the Hawley-Smoot tariff bill.\nLobbyists, headed by the notorious Joseph R. Grundy of Pennsylvania\nrepresentative of the manufacturers of that state, literally inva-\nded the floors of both houses of Congress in the effort to have high\nindustrial rates applied in what had been ostensibly a measure for\nfarm relief only.\n\" We had been exporting 10 per cent of our products. The major"
}