New-York tribune., 1922-06-05

sessing them American valuation
The association then quoted Senator
CAppcr 20 the effect that the real prop
aganda for American valuation comes
from those who desire excessively high
duties In order 20 secure for hem
selves an exclusive position IN me
American market
Foidney's statement that the basis o.
value has no relation 20 the rates
levied was characterized By the az
lociaiion a. an absolute denial of fact,
which must have proceeded from mis-
understanding. since. because me
wholesale price OF goods is continually
changing The amount of duty paid vii
necessarily change With this factor,
upon which the American valuation -
based. even through the rate remains
the same.
IN regard 20 Fordney's reference 20
the undervalustion difficulty, the lat
ter quoted the law division or the
Customs House here a. saying that
fraudulent undervaluations' are a.
present practically negligible. and fur.
ther cites figures 20 show that instead
Of 5000 cases Of this kind for New
York alone. as claimed by Fordney'
country ia 1921
The association then stated its dis
agreement with Chairman Fordney's
assertions as 20 the present depend
ence OF customs officials on the i'm
porer's word for value Of goods in
pofted. and with his contention that
the dopreciatcd rate Of exchange
abroad made ~ almost impossible 20
IL. Ha n
goods n the various foreign countries,
pointing out that the Investigations Of
prominent commissions have shown
that prices abroad have risen IN IN
verse ratio 20 the decline Of exchange
rates.
Difficulties Pointed Out
To suhsiantiato their statement that
American valuation is unavoidable.
which was challenged by Fordney. the
merchants quoted Al length from Sen.
ator McCumber's report calling atten-
tior to great difficulties inherent IN
tho plan. which. I'm his opinion. made
n impossible 20 execute IL successfully.
The presumption indicated by the
Congressman that the Underwood Law
was mainly responsible for the present
depression was then vigorously denied
by the association. which summarized
the tremendous war expenditures OF
the nations Of tho world. and declared
that these were the responsible factors.
In conclusion the retailers registered
their conviction that an enlarging eN-
port trade ia necessary 10 the national
prosperity ~ the country, that an eS-
port trade is impossible unless % IS
paid for in goods. that tne United
States is part a the world, aud that
the international price makes our do
nestle price on many commodities
"if the world stops buying from as,
they stated, prosperity cannot be ours.
b. the very law that will raise An in
surmountabe tariff wall against the
non-com parable products Of the world,
you will prevent Europe from buying
our excess products. Thereby you VIII
guarantee permanent hard times Tor
America.
The position Of our country has
developed considerably beyond that OF
fftv years ago, and our necessities o.
export trade render the theory under
living Your bill obsolete and dangerous
TO the prosperity Of the whole country
"A still further objection which we
would record against the American
valuation plan is that greatly reducea
imports will mean decreased tarih
revenues and hence increased domestic
tYNation. NJ present a very heavy nut-
den on our whole neople.'