Originally Posted By: logtroll
Originally Posted By: Senator Hatrack
You said that the Smoot Hawley Act wasn't introduced until six months after the crash of 1929. If it wasn't introduced until then why does your article about it say that the House passed it's version in May of 1929? Which came first , May 1929 or October 1929?

Here's a chance to implement some bloviation reduction.

It doesn't matter when the SH Act was introduced because it couldn't have any effect until it became law - which was 1930.

The article you led off with many posts back asserted that SH was the main cause of the GD. Which is boolshite since it wasn't in existence until after the GD began.

See how easy it is to not make tedious response posts? Facts are useful that way.
Yes, facts are useful. Here are some facts about how the Smoot Hawley Act affected our economy before it was passed.
Quote:
Effect on the Depression

The timing of the bill's passage through Congress affected the stock market.

May 28, 1929: Smoot-Hawley passed the House. Stock prices dropped to 191 points.
June 19: Senate Republicans revised the bill. Market rallied, hitting its peak of 216 on September 3.
October 21: Senate added tariffs to non-farm imports. Black Thursday stock market crashed.
October 31: Presidential candidate Hoover supported the bill. Foreigners started withdrawing capital.
March 24, 1930: Senate passed the bill. Stocks fell.
June 17, 1930: Hoover signed the bill into law. Stocks dropped to 140 in July.

Without the Smoot Hawley Act what was a recession might have stayed a recession. Because of the Act the recession turned into the Great Depression.
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