The New York herald., 1921-07-13
MUST FACILITATE
TRADE, HOOVER SAYS
Secretary Asserts Business Can
Recover Only With Pros
pcrity Abroad.


economic depression in the United States
as well as abroad depends upon "cour-
age and applied intelligence and the re-
turn to the primary virtues of hard,
conscientious toll and economy in liv-
ing" Secretary Hoover declared here to-
day in an address before the National
Shoe and Leather Exposition.
There may be no recovery from these
hard times for many years to come"
Mr.. Hoover said, "if we neglect our
economic relations abroad. The hard
timef that knock at every cottage door
came from Europe. No tariffs, no en-
nargoes, no navies, no armies can ever
defend us from these invasions Our
sole defence is the prosperity of our
Righbors and our own commercial skill
The recovery of our foreign trade can
march only in company with the welfare
and prosperity of our customers"
Discussing efforts in Europe to re-
cover from the wealth destruction of the
war, the Secretary said that "in the re-
enforcement of their marketing ma
chinery many of the Governments are
stimulating the consolidation OF banks
and manufacturing concerns"
Governmental and Government en-
couraged combinations are being Great
ed, he said, ito control exports and
imports, to exploit foreign markets
They are seeking special concessions for
development and trade throughout the
world. Altogether these policies COM
prise mflitancy in commercial expan-
sion that compares with Elizabethan
England.
Any Improvement In European pro-
duction of manufactured goods will ia
vorably affect our market for raw ma
terials, such as cotton and copper.
am confident there will be a return to
pre-war demand for these. But az to
our manufactures we must get produc-
tion costs down. The surest road to
continued high wages and the surest
safeguard against unemployment is to
remove every restriction on effort. This
must extend from our mines to the rail-
ways. to the factories. to the wharf and
to the ship. 1t means smaller profits.
1t means that we must have ultimately
much lower transportation rates. 1t
means we must have better organized
marketing machinery abroad under
Americans. It means the establishment
Of adequate short time credit machinery
and much more care I'm foreign risks
than our merchants have shown in the
last twelve months.
1T means the Government must re-
move as quickly as possible those un-
necessary domestic burdens upon COM
merce to which the Government Is a
party by the reorganization of our tax
system. The settlement of the tariff
expenditure through the reorganization
Of the Federal Government through re-
duction of armament and through reduc-
tion of Shipping Board losses. and by
the settlement by the Government of the
outstanding claims Of our railways. 1t
means we must cease trying to drive
American ship owners off the sea with
tax paid shipping losses. am satisfied
we can hold our markets, our higher
standards of living and of wages IL we
will all put our backs to It"
America has turned the corner in her
business depression, Mr.. Hoover said in
an address at a luncheon rendered to
him by Mayor Peters.
Farmers arc putting in more efforts
than for ten years." he said. The crops
this time will be the cheapest for ten
years. The farmers are working longer
hours. using old machinery as much as
possible and buying less. AS result the
cost of living will come down for others
in Industry"
In an interview Secretary Hoover said
that orders for millions of shoes from
Russia were being filled by factories In
this State. Payment. he said. was being
made from gold which had been melted
down and shipped through Sweden. The
transactions we're put through In regular
channels from that stage, he said. and
large shipments had -lready been made.
Russia also Is buying agricultural i'm
plements in this country. the Secretary
said