Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-05-29
LODGE ANSWERS
STATEMENTS OF
TARIFF CRITICS
Says U. S. Foreign Trade Is
Growing Faster Than Any
Other Nation.
SEES ENORMOUS GROWTH
Special to Indiana Daily Times
and Philadelphia Public Ledger.

special TO indiana DAILY IineS
and Philadelphia Public Ledger.
WASHINGTON, May 20. Senator
Lodge of Massachusetts. majority floor
leader. today emphasize the recent state
ment of Secretary Hoover that the for
eign trade Of the United States Is grow
ing more rapidly than that Of any other
country" as an answer to statements of
the critics of the pending tariff bill that
its passage would cut off imports and de-
stroy our foreign commerce.
Making the confident prediction that
Congress will pass a permanent tariff
act this season, Senator Lodge continued
Under the emergency tariff, orr trade
IS becoming more nearly normal than
that of any other nation. After the pres
ent tariff bin becomes a law there Will
be an even greater advance in our trade,
both foreign and domestic.
Building up the business of this coun
try is not going TO depress the business
Of the world. Other countries have high
duties now, as the figures presented by
Senator Gooding show | think | am
right in saying that in many cases their
duties are higher than ours and vet those
who oppose this bill seem 10 think that
these duties will stop the trade Of other
countries with us
Il have been through eight tariff dc
bates The importers and the Democrats
always put up the same eainouila@ea at
tacks We hear today. but thu country In
yariahly returns aud supports Repub
lican protective tariff when a new foun-
dation is needed by the business Of the
country TO rebuild to an era Of pros
perity.
Former speaker, Reed, said on one oc-
casion No tariff ever suited everybody
except an unmade tariff No tariff was
ever constructed by the Democratic or
Republican party which satisfied every
body and IL Is not to be supposed the
present tariff will satisfy completely
every one Of the yariegated interests in
the United States. He declared our for
eign trade today is not suffering be-
cause Of the tariff and we are living now
under the emergency tariff act, which
hns higher rates. in many eases, than
those proposed in the finance commit
tee bill
1t Is upon the protective principle
the great prosperity Of this country has
teen built. We are obliged today TO
meet an economic situation such as the
world has never seen. owing tn the
Utterly distorted and disioeated condi-
lions of exchange In the midst Of
these fluctuations We must determine
What duties AZ eSnficient 10 protect
American industries and agriculture. lin
der normal conditions. when values and
costs Of production were practically fixed
or easily determined, the rates were not
as high as those Necessary today. But
now with the shifting of values and
costs abroad, which are admittedly alb
normally low, duties must be higher
than has been customary in thu past
The fundamental conditions Of all tariff
legislation today are entirely different
from what they were prior to the war
Nevertheless, This Is not an argument
for delay in tariff revision The first Is
sental in business Is 10 have stability 81
conditions 80 far IS they depend upon the
tariff legislation Of the country business
can adjust itself To a discoura cling tariff
or oven to one badly constructed better
than it can TO a condition II suspens"
AMI doubt. They are the greatest hin
dra1ces TO prosperous business or farm
Our own markets take about SO per
cent Of our total production. | am well
aware the degree Of profit aud the price
are largely measured by the 10 per cent
OF production which goes abroad in for
eign trade, but Al the same time we can
not advance as a Nation unless our home
Industries and agriculture are prosper
Gus.
The Republican majority in the Sennte
believes the policy Of protection Is tile
surest road 10 the building MP and re-
staration of our economic interests That
is the purpose Of the pending bill and
when the smoke screen of the opposition
Is cleared away the country VIII see he
tariff bill as whole, when II comes from
conference, will represent the protective
principle and be harmonious and srste-
matte.
Business is already beginning to i'm
prove That Is manifested by the adj
vance IN the market price If United States
bonds. which began t. increase In vi,lu,
almost imedately after the November
election This movement has extended
very rapidly from United States bonds
70 bonds Of railroads and Industries and
new bond issues have been taken in
way which would have been impossible
one year ago.
Our duty. as far az legislation can 40,
is TO pass the tariff and other economic
measures To stimulate and encourage the
Improvement in business which is now
visible Nothing, OF course. will be more
helpful than TO give all industries and
agriculture the assurance Of conditions
50 far as Il can be created by legisia-
tion. The tariff particularly must have
quality Of permanency and follow
systematic policy which the country can
adhere t.. Business can then begin to
look hopefully To the future, but this
business can never do SO long as tho Gle
ment of suspense exists and continues
The time-wasting and delay which the
Democrats are engaged In Is simply post
poning the arrival Of Il period Of bust
ness stability. Our first duty is to build
up our own industries, and when that is
accomplished we shall he able TO 90 for
ward and no one need have any fear we
shall not get our full share of foreign
trade.
Congress will pass a Republican pro
tective tariff before II adjourns and the
country. which is patiently awaiting the
enactment of this bin, will be the first TO