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Editorial
June 28, 1946
Henderson Daily Dispatch
Henderson, Vance County, North Carolina
What is this article about?
Editorial criticizes high British taxes on American tobacco imports, arguing that a proposed four billion dollar loan to Britain provides little benefit to US growers unless conditioned on tariff cuts, as taxes recoup much of the expenditure.
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Ground For Complaint
The impost per pound the British government levies on American such a tax wonder British merchants can buy freely of and that United no threatened: Knowlton of the hh tautt mn- a base on imports is not new
long has had a tremendous bias against American leaf. but no manufacturers have somehow managed to pay it and survive, while retailers in this country have been demoralized to that extent.
Much of the argument that has been heard in these parts in favor the four billion dollar loan to Britain has centered around benefits that would accrue to tobacco growers. Our feeling all along has been that the idea has been grossly overplayed. British buyers will pay the prevailing market price, whether high or low, if they get American tobacco, just as all other purchasers do. And a little calculation will indicate how much of the money spent for tobacco will go back into the national treasury in London. Buyers there pay, say, forty cents per pound for leaf here and by the time they actually get it into their warehouses will have added seven dollars to that forty cents, the seven dollars going to the government in taxes, all mind you, on raw leaf alone.
Britain, like the other great and small nations, comes here for a colossal handout of our cash, and on top of that imposes a tax on imports of tobacco from this country to the point of making the price virtually prohibitive. We cannot see how the four billion dollar gift will alter that system, unless the gift were conditioned upon a downward revision of the tariff.
Mr. Cooley and Secretary Byrnes
The impost per pound the British government levies on American such a tax wonder British merchants can buy freely of and that United no threatened: Knowlton of the hh tautt mn- a base on imports is not new
long has had a tremendous bias against American leaf. but no manufacturers have somehow managed to pay it and survive, while retailers in this country have been demoralized to that extent.
Much of the argument that has been heard in these parts in favor the four billion dollar loan to Britain has centered around benefits that would accrue to tobacco growers. Our feeling all along has been that the idea has been grossly overplayed. British buyers will pay the prevailing market price, whether high or low, if they get American tobacco, just as all other purchasers do. And a little calculation will indicate how much of the money spent for tobacco will go back into the national treasury in London. Buyers there pay, say, forty cents per pound for leaf here and by the time they actually get it into their warehouses will have added seven dollars to that forty cents, the seven dollars going to the government in taxes, all mind you, on raw leaf alone.
Britain, like the other great and small nations, comes here for a colossal handout of our cash, and on top of that imposes a tax on imports of tobacco from this country to the point of making the price virtually prohibitive. We cannot see how the four billion dollar gift will alter that system, unless the gift were conditioned upon a downward revision of the tariff.
Mr. Cooley and Secretary Byrnes
What sub-type of article is it?
Trade Or Commerce
Taxation
Economic Policy
What keywords are associated?
British Tobacco Tax
American Leaf
Four Billion Loan
Import Duties
Trade Handout
What entities or persons were involved?
Britain
United States
Tobacco Growers
Mr. Cooley
Secretary Byrnes
Editorial Details
Primary Topic
Opposition To British Tax On American Tobacco Imports
Stance / Tone
Critical Of British Taxation And Unconditional Loan To Britain
Key Figures
Britain
United States
Tobacco Growers
Mr. Cooley
Secretary Byrnes
Key Arguments
British Tax On Tobacco Imports Is Prohibitive And Longstanding
Manufacturers Have Managed To Pay The Tax But Retailers Are Demoralized
Arguments For Four Billion Dollar Loan To Britain Overplay Benefits To Tobacco Growers
British Buyers Pay Market Price For American Tobacco
Much Of Loan Money Returns To British Treasury Via Taxes On Imports
Loan Should Be Conditioned On Tariff Reduction To Alter The System