The Bridgeport times and evening farmer., 1919-12-12
U. s. GREATESTE
 CAPITALIST WORLD SAYS HE'S.
Declares That WeMust Prepare to Buy Asyell
 As Sell,

Nash1ngton, D. C.. Dec,.-Ac-
 cording to quoted utterancenere is | quite a schism in the high ta. ranks
 Of the Republican leaders. Is little lack of team work is visibles when l Senator Penrose of Penylvania 1 scoHed at the House Protect Tariff Bills on optical glass, etc, being ! not only of the "pop-gun" v;ety but un-scientific' and requiring writing before they were fit to be csidered | by the Senate.
 II we want to sell, we ust be prepared to buy" said the .4sident Ill ms message to. Congress at the opelIhg or its regular sessior'What- eVer' therefore, may have Tn our
 views during the period O growth
 or American business cocerning
 lafll legislation, we must nc adjust
 our own economic life to aahanged
 coho' ton growing out of thehct that
 Afheflcan business is full gwn and
 .iia A1neflca is the greates ca pitaI-
 lst in the world"
 In explaining the commeraI sit
 g@lioh or the world today, t7 Presi-
 dent said:
 Anything WI ch would tel to pre-
 vent Iofelgn co, utries iron settling
 toI our exports by shipments1f goods
 1irto thls country could onlylave the
 elect of preventing them froa paying Tor our exports, and thereore of preventing the exports froI being made The productivity of te coun- try, greatly stimulated by he war. must find an outlet by exorts to foreign countries, and any measures taken to prevent imports vii inevit- ably curtan exports, force curtail- ment of production, load the. e.banking machinery of the country witt credits 10 carry unsold products and produce industrial stagnation and unsmploy- ment
 One of the most virulent high pro- tectionists Of the country for many years was Ava B. Johnson Of Phfla- deIphia, former president of the Baldwin Locomotive Works But. as as he expressed it at a recent ban 1uet in his home city, the time must come in the life of every growing nation when it must realize that con iitions have changed" MT. Johnson pointed out that the United States since the war has passed from being ! debtor nation to being a creditor laion,' and finally abandoned his liSh tariff traditions by adding:
 But a creditor nation cannot af- ord to build a Chinese wall around -self and exclude all debtor nations , ts advantage lies in the greatest e6- hange of commodities, because for ign trade, in the last analyaIs, is nIy an exchange of commodities.
 1 hear echoes of a- desire to re- 5tablish protection for American in ustries. Are we not listening to a 'lse suggestion? Tlas not the time )me when the resources of the Unit 1 l States are t<o be found in the -eatest shipm ents of raw material nd manufaC. ,Ered goods, and the aatest Importation of foreign goods 1 nich We can consumer" And Senator Penrose in a newspa- ar iH-erview agreed with MT. John 'n' s/ views, heretofore regarded in . lh. P. circles as heretical. This "erView differed materially from 1other that Senator Penrose gave, rior to the opening of the extraor- mary session of the present Con ress last spring, when he promised 3eedy tariff revision upward.
 Ut is the general consents of busi- ess men all over the United States nat it is not practical or even de- rable to begin general tariff revision l the immediate future," said Pen ose in commenting on the Johnson beech. American industries arr coming or likely to begin to do so al
 rapid rate. Most countries are so epleted in materials and so urgently l need of replacements that it would eem that there is abundant pros ect of commerce and trade for H."
 But the House Republican leader, IT.. Mondeu, who boasted of the pop-gun'' bills that his party "boss," i