Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-05-04
Big Questions Before
Natl. Foreign Trade
Council at Cleveland

foreign trade. the tariff and double
taxation of American investments
abroad are the chief subjects which
will be taken up by some of the ma
tons leading manufacturers, bank
ers and railroad and steamship men
at the National Foreign Trade Coun-
Gil which opens tomorrow and ex-
tends through May Z. About 5000
persons are expected.
1t is believed that the convention
will take action favoring an elastic
bargaining clause in any new tariff
laws enacted by Congress. The Ma
tlonal Trade Council has conducted
an extensive fight for such provi-
sion for some time. The council has
taken the position that if the Unit
ed States volume of exports in re-
cent years is to be maintained, it's
foreign customers must be permit
ted to repay largely with goods of
their own manufacture.
Under the bargain tariff plan pro-
posed by the National Foreign Trade
Council and approved by many ex-
porters, Congress would define a
general policy. fixing the various
flexible rates of duty. Both a maxi
mum and a minimum rate applica-
BILE to imports in general would be
fixed
The President would be given
power, under this plan, upon certifi-
cation to him by tariff commits
sion. either to impose penalties for
discrimination against Am YNn
products or to grant concessi fbr
their favorable treatment.
The council also has urged that
the law be sufficiently broad to per-
init the president to discourage not
only open discrimination but also
any secret discrimination which
might be disguised under other
names.
In the matter of financing foreign
trade, the keynote of the convention
will be sounded by w. P. G. Hard
ing, governor of the Federal Re-
serve Bank, who will speak on
Frozen Credits-What They Are
and How to Thaw Them" and by
Fred l. Kent, of the Bankers Trust
Company of New York, who will
talk on Financing Foreign Trade"
The National Foreign Trade Coun-
Gil has repeatedly advocated a pol
icy for American manufacturers of
allocating at least 20 per cent
of their annual production for
export. contending that the domes-
tic demand upon the average falls
lust about chat much short of con-
Stunning the normal output
The convention probably will take
some action dealing with the laws
under which American interests
abroad now are taxed both abroad
and at home. Judge Daniel r. Will
liams Of Manila will be one of the
chief speakers on this subject and
will detail conditions in the Philip-
pines.
Toxic, March 26-Japan has de-
cided to adopt the metric system.
The bill as passed by the House of
Peers stipulates that in the five years
to come all leading factories, govern
ment offices, government works and
technical schools will be asked to
use the metric system of weights and
measures instead of the Japanese.
The general public will be made
to use the system within twenty
years.
Shanghai, March 26-Approxi-
mately 500 lives were lost in the
wreck Of the steamer Hong Mob of
Singapore which went aground off
the White Rocks, Lamock Island, on
March while proceeding from Sing
apore to Annoy.
The Hong Mob was taking LOO
Chinese passengers to Annoy. It was
believed that Capt. H. w. Holmes of
the vessel was drowned.
Assault with intent to Kill
Halton Grant of Eddington was on
Monday at Bangor bound over in
$1,000 for assault with intent to kill
upon his wife, Virginia The COM
plant was made by her father, Ar