The Washington times., 1921-08-30
bR|TONSL0DCE
EMPHAT|CPLEA
AGAINST TARIFF
Arthur Balfour, Steel Magnate,
Tells Senate Fordney Bill Will
Smash Industry.
BY International News Service.

ny -NV"S
A plea that no trade barrier be per
mitted to disturb or disrupt the har'
mony existing up to this time be-
tween American and English business
interests was made before the Senate
Finance Committee today by Arthur
Balfour, head Of a delegation OF Eng
fish business men representing the
Sheffield Chamber of Commerce.
LET US live, let us work and let us
pay, what we owe you" Balfour said
In declaring that the duties fixed OIL
high speed steel" in the Fordney tar
III bill would wipe out English makers
of cutlery and tools. who. he added,
are entirely dependent upon the Amer
ican> market.
"Britons Not Throat Cutters"
THE peace OF the world depends
upon you and upon me-" Balfour said
I'VE do not want to do anything, and
we trust that you do not want to do
anything to disturb. or disrupt. or de-
stroy the harmony that has existed up
to this time between you and US.
1--WE never have dreamed OF any re-
taIiatory measures" Balfour continued
in referring to the possibility of Eng.
land meeting American trade barriers
with a tariff wall Of her own. We do
not and have never contemplated
throat cutting"
1--WE want to pay you what we owe
you" Balfour explained with refer
ence to what English business owes
American business. And the only way
we can pay you is in trade. Is in
goods. This we are very anxious TO
do"
The appearance Of Balfour and his
English business associates before the
committee was arranged by the state
Department at the formal request OF
Sir Auckland Geddes. the British am
bassador.
Balfour said that the English high
speed STEEL manufacturers he repre-.
scented would like nothing better
than to have present Underwood
duties maintained, but that, OF
course. they realized this to be I'm
possible.
I'VE don't believe In retaliation
because we realize that II would ere
ate a feeling OF distrust between
you an U.S." BalfCur said. "All we
ask is that you give us the very best
deal you can"
Says 1t Means Ruin.
He named several English cutlery
firms who he said would be ruined
II the proposed Fordney duties on
high speed steel" become effective.
These firms do all their trade In
the American market" he said. The
duties you propose would put them
clean out of business. They would
face certain destruction. and 1 am
sure you do not desire their De-
Balfour said that English labor
costs are 400 per cent higher today
than they were in 1912.
Your labor wage Is way above the
ability OF the purchaser TO buy?' in
CURED Senator McCumber, R OF
North Dakota.
Exactly" Balfour responed.
Cites Labor Conditions.
In response to question by Senator
Smoot. OR) of Utah. Balfour conceded
that there could be no objection to the
American tariff duties being levied
on the difference between English and
American wages and the equalization
OF the exchange.
"As long as you do not make the
duties permanent" he added.
You must realize" Smoot replied,
That the condition Of the world to-
day is such that tariff duties imposed
to meet that condition cannot be per-
but must be changed as that
condition changes"
Balfour said there are 2,o00, 900 men
out of work in the English industrial
section he represented, while from
3 900 900 to 4,o000 900 more are work
ing on part time"
The standing Of living In your
is higher than Is ours" Bal
four said when he confessed himself
unable TO make a direct comparison
between English and American wage
and living costs.
MY experience in this country
would lead me to believe that IL costs
much more to live here than in Eng
land" he added.