The Bridgeport times and evening farmer., 1922-01-05
THURSDAY, JANUARY 5, 1922
THE SPEECH ALBA JOHNSON WROTE.

Thanks that by which orators their speeches the their delivery readers of The Times had the advantage yesterday of fair of what Alba Johnson famous business would have said 10 the Chamber of Commerce had hs tram arrived at In this respect the printed superior to the spoken word The must be the ground to speak, but he give his and be anywhere the world.
 The chief interest of these days relates the organiza ton about this Mr. Johnson has idea He thinks that thus would be stimulated in lines of quite The approximate of the work scarcity unemployment ana every institution Whcn enters the market goods increases the amount of york; and the amount of employment would be possible. through the selecton or Varlous schemes TOT improvement to employ three four million and the employment of these would induce the employment everybody else The railroads might three thousand which would give decid ed stimulus industry But the railroads only part of the problem
 Mr. Johnson wants to keep on with the foreign trade he entertain most of the economic falaces about that trade which in American business circles In dis cussng the figures for instance he deals only values and in quantities of commodities No adequate idea of the foreign trade and its meaning be attained in this
 created consumption of commodities Many commodities at low price, makes work than few modies at high Actually foreign trade shows well More comoulues are gong Ill many lines than Iornery went out although the values in money less Another This means that foreign customers are running smaller charge They not paying cash but they much this desirable condition.
 stocks of goods accumulated when prices higher not always sold at profit at cost which been hasned by e heretofore described in The Times stocks should the earliest moment to make for goods created in the period of falling prices.
 Rather than opinions favor let 
 about the tariff He "The highest problem before discover that fiscal policy which will not mpoversh neghbors which will without de- strucon market and expand the foreign trade, without which we cannot prosper"
 The tariff is largely contest between differing groups within the United States Certain commodities exported by That these commodities be paid other commodities brought in from foreign lands Some of the things that brought things which produced manufacturers other Americans If tariff
 laid heavy enough stop all importation of foreign goods exported The who have foreign
 Americans. who make goods like ported will have the entire home market for their goods But market these will be gained at the the Americans who have been exporting American commodities
 Formerly had view that the tariff should be
 c that laid where after mature competing would to do the most good and the least harm.
 Foreign trade consists in the exchange of equivalents of commodities country gains much work it loses. it quite difference particular firms individuals permitted to in go out
 idea that work is founded tariffs of economic The merest that industrial depression which level the world of under all sorts of tariff schemes tariffs must be due to other