The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1921-09-02
NTERNATIONALISTS
ARE AGAINST PRO.
TECTIVE TARIFF
Claim reflective Tariffff VIII Prevent
Europe From Ever Paying
Debts To United
States.

ISIS, who first thought seems to be for
the welfare of Europeans, are contin-
uing to represent that the imposition
Of import duties would prevent Euro
pean nations from paying their debt to-
the United States declares the Re-
publican Publicity Association through
its President, Hon Jonathan Bourne,
Jr., 1T is argued that since those
countries have no honey with which
to pay, they must pay In goods, and If
we impose an import duty which pre-
vents them from paying in goods they
will not be able to pat at all. They
conclude, therefore, that the effect of
the enactment of Republican tariff
law would be to prevent the United
States from collecting the billions now
due from European nations an dthe
ether billions that will become due in
the form Of interest.
1T may be conceded that ultimately
the debts of other nations to the Unit
ed States must be paid largely in
goods or services. Throughout prac-
tically all the history of the United
States this country has sold to Europe
more commodities than 1t has bought
from Europe, the balance in favor of
this country being paid in services of
various kinds particularly in the loan
ing of capital, ocean transportation.
the writing of marine insurance, and
entertainment of tourists. 1t is not
likely that for many years to come
European countries will perform any
service to the United States in the ma
ture of leaning capital. 1t remains a
question soon to be determined wheth-
or those nations woill render service
in the form focean transportation or
marine insurance. 1t may be safely as
serted that in the future as in the past,
and perhaps more extensively in the
future than in the past, European ma
lions will render services to the peo-
pie of the United States who travel on
/ the other side of the ocean. These
services, however, will not be sufii-
cient to liquidate the debt to the Unit
ed States and there will be an impor-
tation of goods.
at is not and never has been the
policy of Republican writer's of tarif
laws to impose duties that would shut
out foreign commodities entirely. The
purpose is merely to impose a rate OF
duty which shall represent the differ
ence in cost of production here and
abroad so that the American producer
will market his commodity in domestic
trade on an equality with his foreign
competitor. If there be commodity
for instance, which can be produced
for one dollar in the United States but
could be produced and shipped ovei
here from Europe at cost of seventy
cents, there would be a margin Of
profit to the European producer OF
thirty cents on the commodity. That Il
to say, II the American produced Sole
at cost the European produced coulc
make thirty cents on a seventy CEN
article by shipping It here. He coulc
put the American producer out OF bus
mess by selling at IS cents and still
make twenty-five cents profit. AZ ina
rate European nations could very rap
idly liquidate the debt to the Unitec
States, for in the fact of that kind o.
competition American mills would d.
closed, American labor would go ou'
of employment and we would send oul
money to Europe to make profits fol
foreign capital and for eign labor
which profits would be sent back mere
to pay of the debts. That would b'
payment Of the debt in goods. but al
the sacrifice of American industry.
What Republicans propose is tha'
there shall be practically thirty CEN
tariff levied on a commodity which
can be produced for seventy cents II
Europe but which costs one dollar tf
produce in the United States, SO thai
II the foreigner markets his commodity
here he must cut his profits and shall
not be in a position to force the Amer
lean produced out Of business. To per
nit the producer of seventy-cent for'
eign article to market 1t here in rival
~ with a dollar American articles
would not be competition. II would be
destruction"
TRYING TO FIND THE JOKE.