Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-08-18
Italian Senator
Sees Need Abolishing
Discriminating Prices

L :
less discriminating prices and export
duties are abolished the world eco
nomically speaking, will revert to
the dark ages, Tomasso Tittoni.
president Of the Italian Senate. pro-
phecied in lecture before the In
stitutc OF Policies here tonight
Il believe" he said. "that~I am
Justled in stating that there exists
today among nations an economic in
justice unknown before the war We
are at the beginning of this new re-
Slme (of discriminating prices and
export duties, especially OH raw ma
rerlals. but. also, everything goes to
show that it has a tendency to en-
large its sphere of influence and that
an unsound system of international
distribution of wealth is today in the
making.
The importing countries must
necessarily defend themselves against
, THIS regime which tends to impover
lsh and plumber them. They will be
Obliged to oppose discriminating
prices by differentiated duties. and
export duties by corresponding ex-
| port premiums
After calling attention to resolu-
IONS against discriminating prices
and IN favor of a more equable dis
trlbution of the worlds supply Of
; raw materials passed by many inter
national bodies such as the supreme
economic council meeting in Rome
IN 1870, the international congress of
chambers of commerce and at the
BRUSSELS meeting of the council of
the League of Nations, Senator Tit
toni said:
How is ii possible that so MANY
/ representative and eminent bodies
maze up not of simple doctrinaries
or OF idle dreamers. but of states
men and practical business men with
long standing experience, have NOT
Deeh able thus far to obtain positive
and satisfactory results in the solu-
tIoh OF this important problem. and
that the heads of the governments
Notwithstanding the solemn agree
hents made by treaty and sneciaI
convention have never for y p,onnan+
maintained Il single one of their
promises?
Al the conference of Brussels
there We're present the ofFjcia, dole
gates of all governments. who mani
mousiy resolved and pledged their
respective governments to changa
or present policy. Not one Of RI.
resolutions that were solemnIv made
ana adopted is today in process of
execution except that of the ter
meulen project of international cred
II, the short comings of which T oo,,
sider very serious. How has this
oeeh possible? Evidently only be-
! cause there exists somewhere =
coailtlon or economic interest strong
er and more powerful than the gov
efnments themselves. a coa1;tio,
against which all truly free and M
Die minded men of all countries must
. wage a continuous and unremitt,nt,
warfare"
He said that after the war thor.
was everywhere an ATTEMPT to cor
I.e' the market and pile up large
''ochs or goods in order to push
prices up to the highest level but
TINS attempt after a temporary suc-
cess tailed"
however" he continued. "if the
ne" state OF things caused the COL
! Iapse Of one of the worst monono-
iies based on discriminating prices
! as that of English coal, it did NOT
nave any noticeable result for oils
ana petroleum. Besides. there ara
other discriminating prices. other
ihohopolies and high export duties
or import embargoes or import du-
.les That they are prohibitive and as
II al this We're not enough, new de-
wees from stubborn protectionists
are Planned every day and every
where
The increase in prices which
touches the purchasing country as a
result of the unfavorable exchange
cannot be imputed to the country
holding the raw materials. The ex-
change depends on the intrinsic
value of the currency and on the
, trade balance.
But the danger and the loss for
the country less favored by nature
becomes more threatening when
the stronger and more resourcefui
countries which possess the privi-
lege of producing the raw materials
not only regulate tn eouantity and