Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1922-03-27
THE HOME \: MARKET.

Herbert Hoover, whose reputation
for great common sense and good judy
ment should give influence to his
words, says that the home market is
the one that needs cultivation. Our
farmers who look to foreign markets
for their surplus should stop to cOnsid-
err that our home consumption Of meat
decreased nearly z pounds percapita,
in 1921" recently declared Mr.. Hoov-
en- He said this decrease was due
mostly to unemployment and that If
this decrease could, be overcome it
would be worth more than 30 pen cent
increase in exports
That is just what he Freeman-J ourn.
al has been telling its readers for some
time. 1t is not the lack of foreign
markets that has brought depression
upon the farming aud allied industries.
but the breaking down of the domestic
market-the inevitable reaction from
the extravagances and recklessness of
the war period and the year and half
following the signing of the al1nistice,
superihduced by the drastic credits de-
flation inaugurated and pursued with
such rigor by the federal reserve board.
I'VE talk of giving billions Of credits
to foreign countries" says Mr.. Hoover,
ito increase our farm exports. l wish
to say with all responsibility for the,
statement, that billion dollars spent
upon American railroads will give more
employment to our people, more ad.
vance to our industry, more assistance
to our farmers, than twice that sum
expended outside the frontiers of the
United States-and there will be great
er security for the INVESTOR
The Freeman-Journal believes Mr..
Hoover is right about it. He might al
so have. said that if we would stop the
impOrtatiOns Of foreign made goods,
the like Of Which can and should be
produced in this country, an impetus
would be given domestic Industries far
more valuable to the manufacturers
and farmers Of the United States than
would the expenditure Of twice ST.
OOO, 100000 by the railroads.
1t is surprising that Mr.. Hoover and
other men of his calibre who are look
ing for ways and means to restore pros.
perity to the people Of this country.
do not see the just consequences of the
present tariff laws under which we are
operating. During the year 1921, in
spite of the depression, we imported
between $2,50O,OOO,OOO and $1,000, Co.,
600 worth of foreign made goods and
foreign products. Just what per cent
age of these impOrtations could have
been produced at home under favorable
tariff laws the Frceman-JOurnal is not
advised, but assuming that at least
half OF them were competitive little
reflection will convince anybody of the
great advantage it would be to the
farmers and manufacturers and people
generally 10 nave tneW made by AM
erican labor and capital in shop and
factory or taken from our fields and
mines.
And III this connection it should be
remembered that the billion and a half
dollars worth Of competitive goods
more or less-impOrted had their valu-
alton fixed in the foreign markets
from whence they came, hence they dis.
placed American made goods or per.
hap~ double their stated value, or
possibly S3,0OO.OO0, Moreover. it
should not be forgotten that the AM
crican consumer did not get the bene.
fit of the very cheap prices at which