New-York tribune., 1921-12-07

ICY than ever can be made possible bv
tarlff duties prescribed without Ncxi-
bility.
Tariff Adjustments
Necessary for Years
There is manifest difference or
opinion about the merits OF American
valuation. Many nations have adopted
delivery valuation as the basis for COL
lectlng duties; that is, they take the
cost OF the imports delivered at the
port OF entry as the basis fer levying
duty. 1t is no radical departure. in
view Oh varylng conditions and the dis
ordered state Of money values, to pro
vide for American valuation. but there
cannot be ignored the danger OF srch
a valuation, brought 20 the level Of our
own production costs, making our
tariffs prohibitive 1t might do so in
many instances where imports ought to
be encouraged. I believe Congress
ought to well consider the desirability
OF the only promising alternative.
namely, q provision authorizing pro
claimed American valuation. under pre-
scribcd conditions, on any given list of
articles imported
In this proposed hexibility, author
lzlng increases to meet conditions so
likely to change, there should also be
provision for decreases. A rata NAV
be just to-day and entirely out OF pro-
portion SIX months from to-day. II our
tariffs are to be made equitable and
not necessarily burden our imports and
ninder our trade abroad frequent ad-
Justment will be necessary Tor years
TO come. Knowing the iInpossibility Of
modification by act of Congress for any
n, ~
ing a loag array OF schedules. | think
We shall go long way toward stabih-
zatlon II there is recognition Of the
Tariff Commissions fitness to recon-
mend urgent changes by proclamation.
am sure about public opinion favor
ing the early determination Of orr
tariff policy. There have been raas-
surfing signs Of q business revival s-o-.
the deen slump which all tlse world has
been experiencing. Our unemplovn7ent
which gave US deep concern only few
weeks ago. has grown encoaragingly
less, and new assurances and renewed
confidence will attend the Congress
sional declaration that American in
dustry will be held secure
Agriculture Needs More
Than Tariff Protection
Much has been said about the oro-
tective policy for ourselves making it
impossible for our debtors to discha rye
their obligations to us. This is q CON
tentlon not now pressing for decision.
Il we must choose between a people in
ldleness pressing for the payment of
indebtedness or people resuming the
normal ways OF employment and carI.v-
ing the credit let US choose the latter.
Sometimes we apDraisc largest the
human i'll most vivid in our minds. We
have been giving, and arc giving now.
Of our influence and appeals to ,ninim-
iSe the likelihood Of way and throw OFF
the crushing burdens of armament. IT.
is all very earnest. with a national
soul irpelling. But people uner1-
ployed and gaunt with hunger face a
situation quite az dishearteining as war.
and our greater obligation to-day is
to do the governments part toward
fortunate and renlurerative employ
ment.
Something more than tariff protec
ton is required By American can agrie,'j pi.p :
turc. To the farmer has come The
earlier and the heavier burdens of re-
adjustment. There is actual depreg-
sion in our agricultural industry, while
agricultural prosperity is absolutely
essential to the general prospe rity Of
the country.
Congress has sought very ernestly
to provide relief. 1t has promptly
given such temporary relief as has
been possible, but the call is insistent
for the permanent solution. 1t is in
evitable that large crops lower the
prices and short crops advance them.
No legislation can cure that funda-
mental law. But there must be some
economic solution for the excessive