Polk County news. [volume] (Benton, Tenn.) 191?-1983, 1921-12-15

among our debtors IL funding and the set
uement of defauited interest may De ne
gotiated.
Merchant Marine.
The previous congress- deeply concerned
In behalf OF our merchant marine. In
1870 enacted the existing shipping laws.
designed for the upbuilding Of the Amer
lean merchant marine. Among other
things provided TO encourage our ship
| ping on the worlds seas, the executive
was directed TO give notice Of the termi-
nation OF all existing commercial treaties
| In order to admit Of reduced duties on
| imports carried In American bottoms.
During the life of the act no executive
has compiled with this order of the con-
gress- When the present administration
came into responsibility, II began an early
inquiry into the failure to execute the
expressed purpose of the Jones act. Only
one conclusion has been possible. Frank
lyI members of house and senate, eager
as l am TO join you In the making of an
American merchant marine commensurate
with our commerce, the announcement of
our commercial treaties would involve us
| IN a chaos of trade relationships and add
| indescribably to the confusion of the al
| ready disordered commercial world.
Our power to do SO is not disputed, but
! power and ships, without comfy of re-
| lationshfp will not give us the expanded
| trade which is inseparably linked with a
| great merchant marine. Moreover, the
applied reduction of duty, for which the
treaty announcements were necessary, en-
| couraged only the carrying of dutiable
| imports to our shores while the tonnage
| which unfurls our flag on the seas is both
! free and dutiable, and the cargoes which
make a nation eminent In trade are out |
going rather than incoming
1t is not my thought to lay the problem
In detail before you today. 1t Is desired |
only to say to you that the executive |
branch of the government, uninhuenced I
by the protest of any nation. for none |
has been made, is Well convinced that |
your proposal highly intended and heart
lily supported here, is SO fraught with diff
ficulties and so marked by tendencies to
discourage trade expansion that ! invite
Your tolerance of noncompliance for a
very few weeks until plan may be pre-
scented which contemplates no greater
draft upon the public treasury and which,
though yet too crude to offer 1t today,
gives such promise of expanding our mer-
chant marine that it will argue Its own
approval. 1t is enough to say today that
we are so possessed of ships, and the
American intention to establish mer-
chant marine is so unalterable, that a
plan OF reimbursement, at no other cost
than is contemplated in the existing act,
viii appeal to the pride and encourage
the hope of all the American people.
Need of Tariff Legislation.
There is before you the completion of
the enactment of what has been termed a
permanent tariff law, the word per
manent" being used to distinguish it from
the emergency act which is the law to-
day. / cannot too strongly urge an early
completion of this NECESSARY legislation.
1t is needed to stabilize our industry at
home; 1t Is essential to make more definite
our trade relations abroad. More, it is
vital to the preservation of many of our
own industries which contribute so nota-
bly, to the very life blood of our nation.
There is now, and there always will be, !
a storm of conflicting opinion about any !
tariff revision We can not go far wrong !
when we base our tariffs on the policy of | !
the productive activities which {
enhance employment and add to our ma I
tional prosperity. I
Must Be Exchange of Trade. I
Again comes the reminder that we
must not be unmtndful of world condf%i I
tons, that peoples are struggling for In y
1ustral rehabilitation and that we can
not dwell In Industrial and commercial ex-
clusion and at the same time do the just !.
hing in aiding world reconstruction and I
We do not seek a selfish =
aloofness, and we could not profit by it, q q
we're it possible. We recognize the ne q
,essity of buying wherever we sell, and a
he permanency of trade lies in its accept u
lble exchanges. We cannot sell to others Il
Who do not produce, nor can we buy I'M n
ess we produce at home. n
Every contemplation magnifies the difh- O
.ulty of tariff legislation, but the neces- I
ty of the revision Is magnifled with 1t.
Doubtless we are justified in seeking 6
more flexible policy than we have pro- h
ound to make for fexibility and elias W
lefty, so that rates may be adjusted to p
meet unusual and changing conditions II
Which cannot be accurately anticipated
know of no manner In which to effect ~
his fexibility other than the extension m
I the powers of the tariff commission, *
o that 1t can adapt itself to a scientific u
nd wholly Just administration of the VI
Early Determination Needed.
am sure about pubic opinion favoring 81
he early determination of our tariff AZ AZ
olicy There have been reassuring OF
Of hi
Jump which all the world has been ex- III
Our unemployment, which as
ave us grave concern only few weeks &C
co. has grown encouragingly less. and 81
ow assurances and renewed confidence oV
Ill attend the congressional declara ton re
lat American industry will be held Sc We
Ire. rel
more than tariff protection m,
required by American agriculture. To WI
lie farmer has come the earlier and the as
eaVier burdens of readjustment There Is j
,tual depression in our agricultural in WI
lstry, while agricultural prosperity is ur
,solutely essential to the general pros pc
rity of the country. is
The base of the pyramid of civilization ms
hich rests upon the soil, is shrinking tul
rough the drift of population from farm wi
CITY, For generation we have been lls
pressing more or less concern about air
is tendency. Economists have warned
I'd statesmen have dep!ored. We thought cei
r time that modern conveniences and 10
e more intimate contact would halt the 10
,rhans only grim nacessty will n9rront yo
hut xya ouebt to Ard a lass das.S cal
medy. uu
Need for Freight Readjustment.
The existing scheme of adjusting \
eight rates has been favoring the the
sing points. until industries arc at inc
acted 70 some centers ana repelled tax
onomc and wasteful transportation the
s attended. and the cost Increased fed
coToingly. ne ln-millng ana fly
ustration, and the attending concen- All
ltion Is readily apparent. The men, sta
eS In concentration are not limited | TN a.