Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-09-03

United states, Europe and the Par
East According to a digest of this
trade sultuation on page $50 of Com
merce Reports, August 4, the United
states is annually gong into debt to
Europcs Asiatic colonies to the ex-
tent of $2IS.0O0,0O0 by purCha sing
more raw materials than we sell in
manufactured goods. Europe, on the
other hand, is on the credit side of
the Asiatic ledger, selling annually
$l5S 600 900 more than it buys from
them.
Great Britain can easily obtain
gold with which to pay interest and
amortization On her debt to the
United States by utilizing the trade
balance IN British Malaga and Brit
ish India. where the United States
runs in debt TO the extent Of S207,-
100000 annually for rubber, tin, man
Caneso. jute, tea. etc. To all intents
and purposes. England is directly
selling this raw material to the
United States. inasmuch as the own
ership OF the raw materials produced
is in England. France could pay her
dcbt to this country by the same pro-
cess through French Indo- China If
she would permit the investment OF
foreign capital in that colony for the
development Of it's raw material re-
sources, which are needed in the
United States.
The United States can not he ex-
pected to purchase what it does not
need. 1t docs not expect to sell to
others what they do not need. This
country needs raw materials, which
are not barred by the tariff. 1t sells
manufa Ct,red products which are
needed abroad. European countries
which possess rich colonies produc
ing raw materials have no ground
for complaining against the United
states tariff. j. does not debar them,
but on the contrary IL helps to ere
ate a market for their raw materials
by stimulating the production of
manufactured goods in this country.
The United states does not use its
tariff against its own farmers, but
on the contrary it protects them by
placing a duty upon farm products
and admitting free Of duty practical
~ all that the farmer buy. There is
no duty on lumber, fence posts,
shingles, barbcd wire, farm machin-
cry Of all kinds, cream separators,
binding tw,ne, leather, harness, boots
and shoes. pads for horses, saddles,
cement, furniture, wagons, carts, etc.
Foreign countries need not expect
the l Hlted sta eS to ADMIT farm pro-
ducts free of duty: but foreign coun-
tries are cordially invited to send
here, free of duty. raw materials that
are not produced in the United
states. This is d vast market. and
foreign producers Of raw materials
can develop it to their capacity with
out any hindrance whatever. The
British empire and the French pos
sessions can sell much more than
they now sell to the United States.
When Germany begins to produce
raw materials she will have an open
door to the American market.
These facts demonstrate conclus-
lively that foreign debtors are not
prevented by the tariff from paying
their debts to this country. They
also demonstrate that the tariff Is
not hindering domestic prosperity, but
Is promoting it by enabling industry to
import raw materials free while pro-
tecting it against the inroads Of for
cign manufactures produced by labor
that is paid lower wages than Amer
ican workers receive.
When the United States beats for.