National Affairs: THE TARIFF

Oil & Sugar

Oil and sugar make a bad tariff brew. Oil men discovered that fact for themselves last week when their efforts to trade sugar votes for oil votes foundered disastrously on the Senate floor.

Behind the drive for a tariff of $1 per bbl. on crude oil were these economic facts: last year the U. S. produced about a billion barrels of oil. Its net imports, free-listed, were about 53,000,000 bbl. Largest importers are Standard of New Jersey, Standard of New York, Gulf, Royal Dutch Shell. When, as a conservation measure, President Hoover...

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