Arizona republican., 1919-12-03

 wills.
 Warns Against Tariff Revsions
 The problem is not an easy one. A fundamental change has taken place With reference to the position of Amer lea in the worlds affairs. The preju- aice and passions engendered by dec tdes of controversy betwee two tehools of political and economic lhought-the one believers in protec- lion of American idustries, the other believers fin tariff for revenue only must be subordinated to the single consideration of the public interest in The light of utterly changed conditions. Before the war America was heavily the debtor of the rest of the world and me interest payments she had to make 70 foreign countries on American sN- eurities held abroad, the expenditures or American travellers abroad and the ocean freight charges she had to pay 10 others, about balanced the value of her pre-war favorable balance of trade. During the war Americas eX- ports have been greatly stimulated. ana Increased prices have increased their value. On the other hand, she mas purchased a large proportion of me American securities previously held abroad, has loaned some $9.O0O,- 100000 to foreign governments. and mas built her own ships Our favor able balance of trade has thus been greatly increased and Europe has been deprived of the means of meeting if heretofore existing. Europe can have only three ways of meeting the favor able balance of trade in peace times: By imports into this country of gold pr or goods, or by establishing new credits. Europe is in no position at me present time to ship gold to us nor rould Ne contemplate large further imports of gold into this country with out concern. The time has nearly passed Tor international governmental loans and 1t will take time to develop In thisscountry a market for foreign securities. Anything, therefore, which would tend to prevent foreign coun- tries from settling for our exports by shipments or goods into this country could only have the effect of prevent . lng them from paying for the exports ana therefore of preventing the ex- ports from being made.
 The. productivity of the country sreatlyS Sstimulated by the war must tind an outlet by exports 10 foreien
 
 prevents imports will inevitably cur- tail exports. force curtailments of production. load the banking machin- ery ofkt the country with credits to csrry unsold products and produce in . 1ustrial stagnatlon and unemp1ov- meN. II we want to sell. we must he preparsd to buy. Whatever. therefore may have been our views during tbe period Of growth of American business 'oncern1ng tariff legislation. we must now adjust our own economic life to a hansed condition growing out of the iact mat American business Is full grown and that America is the greatest capitalist in the world.
 O' ,. Must Share World Market
 NO policy of isolation will satisfy me growing needs and opportunities of Ainerlca. The provincial standards and policies of the past which havc neld American business as if a straieh, Jacket must yield and give way to the needs and exigencies of the new da, in which we live: day full of hon, and promise for American business fl we Willtbut take advantage of tbe m. portunities that are ours for the osl, Ing. The recent war has ended o,,, Isolation and thrown upon us a yreo' duty and responsibility. The TTnita, states must share the expanding worIf market The United States desires fo, itsen only equal opportunlty with tb, other nations Of the world. and ina through the process of friendly co. operation and fair competition tb, legitimate interests of the nation, concerned may be successfully an, equitaoly adjusted.
 sNIborta
 portance upon which I urged actio, 't the last session of congress whicl are stiH pressing for solution. an sure it is not necessary for me fl again remind you that there is on immediate and very practicable oues lion resulting from the war whic We should meet in the most lfbeua spirit. s1t is a matter of recognitio and relief to our soldiers. I can d no better than to quote from my las message urging this very action:
 Urges Support to Ex-Service Men
 We must see to 1t that our re turning soldiers are assisted in ever practicable way to find the places fo which they are fitted in the daily wor of the country This can be done b developing and maintaining upon a adequate scale the admirable organi ration created by the department c labor for placing men seeking work aHd it can also be done, in at leas one very great fleld--by creating ne, opportunities for individual enterprise The secretary of the interior ha pointed out the way by which return ing soldiers may be helped to find an take up land in the hitherto unde veloped regions of the country whic the federal government has alread prepared or can readily prepare fo cultivation and also on many of tn sut over or neglected areas which Il within fhe limits of the older states md I once more take the liberty ( recommending very urgently that hi plans shall receive the immediate an substantial support of the congress. "In the matter of tariff Legislation beg to call your attention to th statements contained in my last mes sage urging legislation with refereno 10 the Establishment of the chemici and dyestuffs industry in America:
 Among the industries to whic special reconsideration should be give ls that of the manufacture of dye stuffs and related chemicals. Ol complete dependence upon Germa supplies before the war made the ir lerruptton of trade cause of exceT tional Economic disturbance I'll close relations between the manufaC .ure of dyestuffs, on the one han and of Explosives and poisonous gasC On the Other. moreover has given tt industry an exceptional significanc and value.
 Although the United States wi gladly and unhesitatingly join in tf program of international disarmament