The Birmingham age-herald., 1921-03-04

eign countries. Now it appears that we propose to render these measures abor- tive in whole or in part.
 ITS REAL PURPOSE
 T imagine there is little doubt thae while this measure is temporary, is is in tended as foundation for action of a similar nature of very general and permanent character It would seem to be designed to pave the way for such action. If there ever was a time when America had anything to fear from for eign competition, that time has passed. I cannot believe that AmericAn pro- ducers, who in most respects are the most effective in the world, can have any dread ofscompetiHon when th)ey view the fact that their codntry has coma through the great struggle of the last few years, relatively speaking, un- touched, while their principal competitors are in varying degrees sadly stricken and laboring under adverse conditions from which they will not recover for many years. Changes of a very radical character have taken place. The United States has become a great creditor tion. She has lent certain governments of Europe more than $9,000, 900, 900, and as | a result of the enormous excess of our exports, there is an additional commer- cial indebtedness of foreign nations to our own of perhaps not less than S4,O00,- OOOO0O
 There are only three ways in which Europe can meet her part of her in- debtedness, namely, by the establish ment of credits, by the shipment of gold or of commodities. It is difficult for Europe to discover the requisite securi- ties as basis for the necessary cred it's. Europe is not in a position at the present time to send us the amount of gold which would be needed and could not view further imports of gold into this country without concern. The re-. suit to say the least, would be a larger d Encouragement of international ex- change and disturbance of internation- al trade. If we wish to have Europe settle her debts, governmental or com mercial. we must be prepared to buy from her. and if we wish to assist Eu- rope and ourselves by the export either of food or materials. we must be pre- pared to welcome commodities which we need and which Europe would be prepared with no little pains to send us.
 BLOWS AT INDUSTRIES
 Clearly, this is no time for the erec- ton here of high trade barriers. It would strike blow at the large and successful efforts which have been made by many of our great industries to place themselves on an export basis. IL would stand in the way of the nor mal readjustment of business condi- tions throughout the world; which is as vital to the welfare of this country as to that of all the other nations. The United States has duty to itself as well as to the world. and it can discharge this duty by widening. not by contract ing its world markets
 This measure has only slight interest sc far as it's prospective revenue yields are concerned It is estimated that the ta aAJ tn hn nal come from it's operation for 10 months would be less than $72,0O0,ooo and of this more than half would arise from the proposed duty on sugar. Obviously this and much more can be secured in ways known to the Congress, which would be consumer and American industry.
 The rates, however have peculiar interest In practically every case they either equal or exceed those established under the Payne-Aldrich act in whici. the principle of protection reached its high water mark, and the enactment of which was followed by an effective exhi- biton of protest on the part of the ma jority of the American people. l do not believe that the sober judgment or the masses of the people of the nation, or even of the special class whose interests are immediately affected by this meas ure will sanction return, especially in view of conditions which lend even less Justification for such action to a policy or legislation for selfish interests which will foster monopoly and increase the disposition to look upon the government as an instrument for private gain in stead of an instrument for the promo tion of the general well being.
 such a policy is antagonstic to the fundamental principle of equal and ex- act Justice to all and can only serve to revive the feeling of irritation on the part of the great masses of the people and lack of confidence in the motives of rulers and the results of govern ment."