THE PRESIDENCY: The Hoover Week: Oct. 7, 1929

He would go down in history as indeed a weak-kneed President who, within the first year of his office, should let slip from the office's authority so great a power as the one which was given the President in the Tariff Act of 1922, the power to raise or lower duties by 50% upon recommendation of the President-appointed Tariff Commission.

Hearing that Democrats and insurgent Republicans were planning to alter this so-called flexible clause* so that Congress instead of the President should receive the Tariff Commission's recommendations, President Hoover last week waited...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!