Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1920-12-10
LONGWORTH
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vision of the tariff laws. but I am
bound to confess that so far as I can
now see into the future, the pros
pect is decidedly hazy."
Chief among the problems to be
confronted in such revision, ne
placed determination of the attitude
of the United States toward assisting
in the economic rehabilitation of the
mowers associated with it in war.
Such aid should be extended. ne
said. but never "at the sacrifice of
American industrial Independence,
through throwing down the tarln
bars to foreign products.
Citing President Wilson's pro-
posals to Congress in this regard, q
year ago, he said the enactment into
law of such a doctrine would bring
absolute disaster to American bust
ness and industry 1t was true, he
said. that the war had changed con-
ditions and that a favorable trade
balance, formerly "a feather in our
cap" was now perhaps a liability
rather than an asset, since 1T had
reached an aggregate of nearly 3d.
600, 100000 for the years 1918, 1919
and 1920 up to September
But have they changed" he said,
ito such an extent that we ought
to abandon all the standards and
policies of the past and. forgetting
our home market, enter into mad
scramble for the worlds market?
Even if that were a wise policy
we would cut pretty sorry figure
in attempting to gain the worlds
market once we had lost our market
here at home"
Mr. Longworth added that it was
doubtful whether throwing open Am
erican markets to aid Great Britain,
France, Italy and Belgium rehabili-
tate themselves and discharge their
debt to the United States would ac-
complish it's purpose. Those nations.
he said, had high labor costs, COM
pared with some other foreign lowers,
and the latter probably would cap
ture American markets if barriers
were removed.
| If it should be found wise to ax-
tend preference to the debtor nations,
he said. 80 far as tariffs are CON-
cerned it seems to me that there is
| but one practical way to bring it
about and that is through the medium
of separate. reciprocal trade cgree.-
ments. l concede that such agrca-
ments would be difficult of negoti-
atoms, but they ought not to be i'm
possible.
''As to whether this would be wise
policy am not now prepared to say
| Other speakers at the dinner Were
, Ambassador Jusserand of France, IT.
wing T. Bush, Frank A. Vanderlip
and Thomas w. Lamont.
1.-The manufactured products of tine
United States will never dominate
the markets Of the world until a for
eign market becomes necessary to
our manufacturers" said Mr.. Bush.
| 1.-The trouble has been we have never
really gone after foreign trade. Only
| a few American foreign trading
houses have been established on a
basis sufficiently firm to meet the
competition of Great World trading
machines built up by years of effort
! by other nations. 1 have faith that
the same energy and capacity which
has developed this country from a
humble beginning will find a way 10
met the competition of other nations
in foreign markets"
| Tariff subjects were discussed at
the opening session of the arademy by
w. S. Culbertson of the United States.
tariff commission; Albert c. Duncan,
formerly president of the national as
ISOLATION of cotton manufacturers.
| Dwight Morrow of j. p. Morgan and
company, and Edward n. Dingley
! The tariff policy of the United
States Mr.. Dingley sair, should be
one that gives its manufacturers,
producers and wage earners the ben
eft of home products and markets.
Protection" he added, sis nation
alism translated into terms of eco
nomic science.