Word: lumber
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...roaring at his own joke. Also he took the first good afternoon to drive out to his 2,500-acre farm where he learned from Manager Otis Moore that the corn crop had been 1,300 bu., the best ever, inspected a number of new sheds built of lumber grown on the place and sawed at his own mill...
...year; a 20% to 40% cut for 750,000 bu. a year of seed potatoes; 43% off for 1,500,000 gal. a year of cream; half off on halibut; $2.50 instead of $5 per gallon on whiskey aged four years or more in the wood; half off on lumber with an annual limitation to 250,000,000 board feet on Douglas fir and western hemlock. In addition, the U. S. agreed to keep on the free list wood pulp and newsprint, crude asbestos, wood shingles (with limitations), lobsters, telegraph poles, undressed mink, beaver, muskrat and wolf skins, nickel...
Secretary Hull could chuckle to himself that a good many of his concessions did no more than restore the pre-Hoover tariff, that many (notably lumber, cattle and potatoes) had been so limited by quotas to a tiny fraction of U. S. consumption, that they would have little if any unsettling influences. Moreover the articles which the U. S. agreed to keep on the free list included newsprint (on which the U. S. Press would never let a tariff be imposed) and a number of things of which the U. S. has far from enough (e. g. asbestos, cobalt, lobsters...
...they produce similar products. Neither Canada nor the U. S. can expect the other to take its surplus wheat or copper. When the Canadians asked whether the U. S. would take Canadian fish, potatoes, butter, cattle, the answer was: "Unfortunately, we have enough. But we might take a little lumber and some liquor." Even on Canada's one big export to the U. S., newsprint and wood pulp, there could be no concession because that already comes in duty-free. In return for lumber and liquor Canada was not willing to take any greatly increased
Other income will be from 500 bu. of sweet potatoes, from lumber cut by a sawmill installed a few months ago. "I begged the President to let me plant a little cotton," said the employe of the man who has cut the South's cotton production 20%, "but he just gave me that big broad smile and shook his head. So of course I didn't raise any cotton...