The New York herald., 1921-09-30
American Valuation Plan,
as Explained by Fordney
and Others, Is Favored.
WOULD HELP LABOR HERE
Wakeman, Camp, Devries and
Butterworth Discuss Outlook
for Better Business.


out of work in America, which means
that a large part of our money Is be-
ing expended for goods made in for
eign countries and being paid for the
support cf foreign labor" said Repre-
sentative Joseph w. Fordney, chair
man OF the Ways and Means Commit
tee Of the House OF Representatives.
at the national conference of State
Manufacturers Association. held here
to-day.
There were 1000 manufacturing men
present from more than twenty States.
They gathered to discuss the problem
of American industry.
High tariff Is good thing for
America. as it will mean prosperity In
this country" continued Representative
Fordney. II expect my bill to go
through both houses in a few months.
and then I feel that American labor
will have its inning and that the fac
tories instead of operating on fifty
per cent. basis will be going at maxi
mum capacity and reduce the great
amount OF labor unrest by putting men
back to work from the stupendously
large army of unemployed.
Lower Than Foreign Duties.
s"It may surprise you to know that
the duties In the Fordney bill are lower
tkan those charged by foreign countries
on goods manufactured in the United
States and brought In their domains"
Mr. Fordney continued.
NMf.Tf iS ahS0iutalv naragsary to funpOsa
the duty on the basis of American valu-
aticn, because OF the depreciation of for
eign currencies as compared to United
States money.
IF the duty were imposed on a for
eign valuation basis 1t would make 1t
prohibitive for the nations whose cur
rency has not deprecated very much
to compete with those whose moneys
have greatly deprecated. But IL we
were to put on the duty by American
valuation 1t would be the same for each
country and not be affected by the de-
preciated value OF the currency of some
Of the countries.
"The theory that the protective tariff
would raise the cost of goods Is not so.
The protective tariff need not increase
the cost OF goods sold here, but IL would
make 1t possible for the manufacturers
to operate at maximum capacity-100
tEeir overhead expense"
Resolutions were adopted and were
sent TO the Hoover unemployment con-
ference in Washington to the effect that
the only remedy for the unemployment
situation in America can be brought
about by immediate action on the tariff
bill, which will provide added protection
to the American manufacturer against
cheap imports. John NJ. Glenn. secre-
-. ApH Ia tnt,
sponsored the resolutions.
Puts Failure Up TO Congress.
'.The remedy for unemployment is
more work in our factories" the resolu-
tions declared, which is not to be ex-
pected as long as a large proportion OF
our industries are paralyzed by the
failure of Congress to complete the
pending tariff legislation"
The resolutions continued: In view
OF the present depressed conditions OF
American industry, the abnormally low
cost of production abroad and the un-
preccdented depreciation of currency OF
countries seeking to sell their products
in the markets OF the United States IT
Is our solemn conviction that 1t Is i'm
perative that there be no further delay
in the enactment OF an adequate pro-
tective tariff bill and that Congress and
the Administration proceed at once to
complete the programme to which they
stand committed before the nation"
Judge Marion De vries OF Washing
ton. Judge OF the United States Court
or Customs Appeals, urged the manu-
facturers that American standards be
taken as the measure of American
finance.
''Let us confidently proclaim" he
said, that our Government, that our
money. that our market values are the
most enduring and stable OF any nation
OF the world. and that the American
Government Is able completely TO func-
tion within It's own territory upon the
strength and basis OF its own commerce
without resting its vitality important
revenues upon the varying and uncer-
tain foreign trade values or placing
their determination upon or within con-
troll OF foreign caprice, Judgment or In
tegrity"
Wages. material prices, taxes and
interest were named as the four grea,
obstacles to return to normalcy for
business by william Butterworth, presi-
dent OF Deere a Co, and chairman OF
the conference.
Business Is sick" said Mr.. Butter
worth. 1T is almost sick in bed. Per.
haps II can wiggie a toe here and there
but II certainly needs doctoring."
Mr. Butterworth said some industries
had been able to reduce wages and
thus production costs. but that others
were holding wages UP and creating dis.
satisfaction among the men who found
their incomes reduced. The chief of
tenders in this respect. he said, wer,
the railroads. the building trades, and
the coal mining industry
ror American Valuations.
Wilbur +. wakeman. secretary Of thu
American Protective Tariff League, an
nounced that his organization had sug
gestcd the American valuation clause u
the Fordney tariff bill Such a clause
he argued, was necessary because OF thu
tendency Of the foreign exporter TO dis
regard real values when paying the tas
on his goods. Mr.. wakcman asscrte,
that there was over $3.50 900. 900 worth
OF European goods waiting to be dumped
or the American market as soon as con.
dltions permit II.
Walter Camp. one oS Americas fore
most authorities on the game Of football
and president OF the American Valuation
Association, also vice-prcsident OF a
large Eastern watch factory. declared
that he would dlscusse football with all
conncrs when his conscience lets him, bu,
that right now the 100000 TO yi0.-