The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1921-07-08
THE FoRpNEY BILL.

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The high flown language used by
Congressman Fordney in the introduce
ton of his tariff bill will scarcely be
convincing to the average thoughtful
American. A Nprotective tariff is de-
Tended on the ground that it provides
employment for American labor at
high wages.
Even with millions of men idle this
country is overlooking with surplus
commodities which it cannot sell.
How, then. can we hope to find
market for more goods produced at
higher costs?
Our foreign trade is falling away
alarmingly. Our country is not 50
self-contained and self-supporting
that it can dispense with overseas
commerce. If we are to maintain
domestic production at anywhere
near capacity and give employment
to our labor we must find an outlet
for our surplus.
We are willing and anxious to sell, but
we do not wish to buy. We are so
much disturbed over the dwindling
market for our excess production that
we are devising all sorts of credit
schemes and marketing plans to find
a way out Of our difficulties.
1t has been estimated that the man
ufactured output of this country IN
1919 constituted more than 40 per
cent of the entire production of the
world. According to this same COM
putation the figures compare with
proportion of 80 per cent in 1914. It
has been pointed out that this in
crease in the relative disparity has
been due not so much to increased ac-
tivity in America as to the falling off
in productivity elsewhere. Only thru
increased foreign productivity and
distribution can we hope to receive
payment for what we send abroad.
Viewed in the light of our foreign
trade figures and the situation which
is developing, the inconsistency Of our
pending tariff legislation becomes all
the more glaring. Our own markets
are clogged with raw materials, food
stuffs and manufactured goods which
we wish to sell abroad The foreign
buyer wants them and needs them.
but the means of payment are lack
ing. We have practically cornered
the gold supply of the world.
We are in the position of a mer-
chant who is anxious to sell, ard even
willing to grant credit. but when it
comes to settling the bill denies the
debtor the means and privilege OF do
ing so.
For Europe can pay only with
goods. It is futile to ask that cotton,
copper, foodstuffs, Locomotives or any
other raw materials or instruments Of
production be sold abroad on credit
and then raise up a tariff wall and
prevent liquidation of the debt thru
the medium of the exchange Of goods.
The granting of credit merely post
pones payment and the operation is
bound to end in failure unless it be
based on Europe's ability to produce
goods and to sell them to us. We are
deceiving ourselves when we attempt
to send goods abroad on due bills and
then refuse to permit the buyer to pay
thru the only means at his command.
1t is a mistake to think that high
tariff, shutting out foreign importa-
lions, will prove to be protection"
to the people of this country. A few
groups may be benefited by an in
crease in duties, but the real interests
of more than one hundred million
consumers will be subserved by per-
hitting competition that will force
prices down, cutting living costs and
promoting greater efficiency in pro-
duction. A country that has devel-
oped nine-tenths of the labor saving
devices known to industry, that has
almost every variety of raw materials
within its borders. that has developed
its plant equipment to a high state OF
perfection, can receive no lasting good
from a tariff barrier that merely
operates to keep its production costs
high and increase the prices paid tY
its own population