US Presidency
1921

There isa luring fallacy in the theory of banished barriers of trade, but preservedAmerican standards require our higher production costs to be reflected in our tariffs on imports. Today, as never before, when peoples are seeking trade restoration and expansion, we must adjust our tariffs to the new order. We seek participation in the world's exchanges, because therein lies our way to widened influence and the triumphs of peace. We know full well we can not sell where we do not buy, and we can not sell successfully where we do not carry. Opportunity is calling not alone for the restoration, but for a new era in production, transportation and trade. We shall answer it best by meeting the demand of a surpassing home market, by promoting self reliance in production, and by bidding enterprise, genius, and efficiency to carry our cargoes in American bottoms to the marts of the world. We would not have an America living within and for herself alone, butwe would have her self reliant, independent, and ever nobler, stronger, and richer.