Every evening, Wilmington daily commercial., 1921-03-23
BUSINESS TROUBLE
TRADE DEPRESSION
WORRY CONGRESS
They Operate Against High
Tariff, but Tariff Protec-
ton h lnsistent.
FOREIGN AFFAIRS SET BACK

Special Dispatch From Every Evenings
Washington Correspondent
Washington, March 23-Reports COM
ing To the Republican leaders in Con-
gress depict the business OF the country
as lamentably bad. with no signs of
immediate improvement. The surplus
in warehouses. with no buyers from
abroad. the increasing idleness every
month. especially in the basic industries,
have all tended to worry the leaders
confronted with the formation of a
Legislative program which might aid. 10
some degree. in restoring business ac-
tivity.
II is this lessening of industrial ac
tivity and the serious conditions among
the railroads. with some of the larger
carriers about to pass dividends or
nay script instead. that has made the
responsible leaders proceed with the
greatest care concerning a program for
the special session on tariff and taxa
ton matters. Some of the heads of the
larger industries have advised against
the hasty enactment of a tariff law.
saying that the increase of custom
duties at this time would have the ef-
feet OF halting buying by foreign
countries and would certainly meet with
retaliatory measures. which in the end
would prevent American producers SELL
ing abroad.
They Take Courage.
Many Republicans recognize the
justice of such arguments but they do
not have the courage to take public
stand against revision of the tariff.
Their reason for this is very plain They
have been preaching protective tariff
as q panaCea for business ills for so
many years that they cannot bring
themselves to facing the changed con-
ditions. What is required just now
is a readjustment of economic con-
ditions to changed business and trade
balances. When the tariff duties Of a
high protective character operated sue
cessfully. the United States was a
debtor nation. Today this country in
stead of beng a debtor nation to the ex-
tent Of SO 1000. 900 900. as it was before
the war. is a creditor nation of s16,00O.-
100000. Therefore. compared with pre-
war times. the United States is a
creditor nation TO the amount of S25,-
600 600 00O.
Need OF Free Channels Of Trade.
With this credit existing il is gen
orally recognized that the United States
cannot hope to see this credit adjusted
without having rea sonably free chan
nels Of trade. II these channels are
clogged by high tariff duties there will
be no large volume Of buying in the
United States and the trade that has
passed between the United States and
foreign countries will be turned else
where. The result, il is declared by ex-
perts, will be that the United States
must sell its products at home or in
South America where buying has fallen
off greatly since the signing OF the
arulistice due TO the failure OF the
United States TO provide long term cred
its or prepare commodities in form and
packages desired by that trade.
Despite the conditions which eco
nomically and practically weigh against
increased tariff duties, the Republican
leaders. after a wavering and delaying
policy. have agreed upon taxation and
tariff program. This program provides
that the Farmers Emergency Tariff
bill. as vetoed by President Wilson, a
few days before the last Congress ex-
pired. shall be re-enacted without