, 1921-12-06

be. a storm OF conflicting opinion
about any tariff revision. We cannot
go far wrong when we base our tar
ins on the policy OF preserving the
productive activities. which enhance
employment and add to our national
prosperity.
SAFE GROUND IN
WORLD AFFAIRS BEST.
Again comes the reminder that we
must not be unmindful of the world
conditions. that peoples are struggling
for industrial rehabilitation and that
we c@nnot dwell in Industrial and
commercial exclusion and at the
same time do the just thing in aid
ing world recognition and readJust-
ment. We do not seek a selfish aioof-
ness. and we could not profit by 1t.
We're IL possible. We recognize the
necessity OF buying wherever we sell.
and the -permanence OF trade lies in
It's acceptable exchanges. In our pur-
suit Of markets We must give as well
as receive. We cannot sell &c others
who do not produce. nor can we buy
unless We produce at home. Sensible
OF every obligation OF humanity. com
merce and finance. linked as they are
in the present World condition, It is
not to be argued hat we need de
stroy ourselves to be helpful to 9TH
ers. With all my heart. i wish re-
storation to the people blighted by
the awful world war. but the process
OF restoration does not he In our &C
ceptance OF like conditions. 1t were
better to remain on firm ground.
strive for ample employment and
high standards of wages AT home. and
point the way to balanced budgets.
rigid economy, and ~resolute. efficient
work as the necessary remedies to
cure disaster.
Everything relating to trade among
ourselves and among nations has
been expended. excessively inflated.
abnormal and there is a madness in
finance which no American policy
alone can cure. We are n creditor
nation. not by normal processes. but
made SO by war. II Is not an I'M
worthy selnshness to seek to save our
selves when the processes of that
salvation are not only not denied to
others. but commended to them. We
seek to undermine for others no in
dustry by which they subsist; we are
obliged to permit h undermining OF
none of our own which make for en-
pigment and maintained activities.
MANY DIFFICULTIES
IN TARIFF DECISIONS. p.
Every contemplation. it little mat
ters In which direction one turns.
magnifes the difficulty of tariff legis-
lation. but the necessity OF the de-
cision is magnihed with it. Doubt
less we are justified in seeking a more
flexible policy than we have provided
heretofore. / hope a way will be
found to make for %fiexibility and elias
ticity SO that rates may be adjusted
to meet unusual n changing condi-
lions. which cannot be accurately an.
ticipated. There are problems Incl
dent to unfair practices, and to ex
changes which madness In money
have made almost u~hsolvable. l
know of no in which to ef.
feet this nexibility other than h ex'
tension of the powers Of The tariff
commission, SO that 1t can adapt IT.
self to n scientific and wholly just
administration of the law.
I am not unmindful OF the consti
tutional difficulties. These J a be
met by giving authority to the chief
executive who could proclaim add
tional duties to meet conditions
which the congress may designate.
At this point I must disavow any
desire TO enlarge the executives pow
ers or add to tho responsibilities OF
the office. They are already too large
II there were any other plan I would
prefer II.
The grant of authority to proclaim
would necessarily bring the tariff
commission new and enlarged activ
tiles because no executive could dis
charge such a duty except upon the
information acquired and recommen
dations by this commission. But the
plan is feasible INT the proper func
tioning OF the board would give us
n better administration OF a defined
policy than ever can be made possible
by tariff duties prescribed without
lexibility.
AMERICAN VALUATIONS
IN COMMERCE URGED.
There is a manifest difference o
opinion about the American valua
ton. Many nations have adopted de
livery valuation as the basis for col
lecting duties; that is, they take this
cost of the imports delivered at tn,
port OF entry as the basis for levy
ing duty. 1t is no radical departure
in view OF the varying conditions ant
the disordered state of money values
to provide for American valuation