Did a Mormon senator help bring in the 1930 Depression?

[_aussieguy55]

Commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was an Act implementing protectionist trade policies sponsored by Senator Reed Smoot and Representative Willis C. Hawley and was signed into law on June 17, 1930. The act raised U.S. tariffs on over 20,000 imported goods."What Caused the Great Depression? The legislation in the Tariff Act of 1930 had the effect of raising US tariffs on more than 20,000 imported goods. Many economists agree that Smoot-Hawley was a factor in causing the Depression, but some argue that it played only a small part."

Will there be a repeat now? We have little "Hitlers" in the wings. Hungary Russia Philippines

[_moksha]

Raising agricultural import costs at the same time as the Midwest dust bowl seems rather unwise in hindsight.

[_MeDotOrg]

The Smoot–Hawley Tariff exacerbated the situation, but the Great Depression was going to happen anyway. Internationally, the seeds were planted in the onerous debt given Germany in the Treaty of Versailles, and a Stock Market driven by too much greed and not enough regulation (sound familiar?).

I am not sure of Mr. Hawley's religion, or if it was equally to blame.

[_aussieguy55]

I lost money in my public sector pension fund in 2008. A Mormon neighbor lost $400000.