TAFT ON CANADIAN RECIPROCITY. Autograph Endorsement Initialed ('W.H.T.') at the lower margin of ...

TAFT ON CANADIAN RECIPROCITY. Autograph Endorsement Initialed ('W.H.T.') at the lower margin of a TLS of Charles D. Hilles, Secretary to the President, to Louis Wile of the New York Times, relaying Taft's excitement at the passage of the Canadian reciprocity bill, 1 p, 8vo, Washington, July 25, 1911, on White House letterhead, some toning and soiling to letter. Hilles writes: 'The President is greatly elated over the passage of the reciprocity bill, because of his strong conviction that once the treaty is in effect it will vindicate itself, and is glad to receive your note of felicitation on the outcome of the long fight.' Taft has added, 'Thank you my dear Mr. Wiley / WHT.' On July 26, 1911 Taft signed 'An Act to promote reciprocal trade relations with the Dominion of Canada,' or the Canadian Reciprocity Agreement to establish free trade and reduce import duties and tariffs between the two countries. Canada and the United States first signed a reciprocity agreement in 1854, but at various times over the decades one country or another introduced tariffs and import duties to protect its local economy against the other. Taft worked hard to create a new reciprocity agreement in 1911, getting the agreement through Congress that July. The Canadian parliament, however, rejected the treaty, and it was not until the 1980s, followed by 1994's NAFTA, that free trade was reestablished between the two countries. For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing