Milford chronicle., 1924-09-12
NO TIME TO CHANGE PARTV
CONTROL

WASHINGTON, (SpeciaI tn NTilford
ChTonlcle)-"During the fiscal year
enoed June 80, under a Republican
tariff law, our imports and exports
were about double those of 1914. nine
months of which was under a Demo-
cratic tariff" says the Republican
publicity Association, through its
| PRESIDENT, Hon. Jonathan Bourne
Jr. This record disproves the pes-
slmlstlc predictions of Democratic
leaders when the Republican law
was framed. In plain figures our i'm
ports increased from $1,894,OOO,OOO
IN 1914 to $3,557, 100000 in 1924
while our exports increased from
1886, 100000 to $4,312,OOO,OOO. The
eHort TO ascribe this to value in
creases is futile. Volume increases
are marked all along the line. Re-
member that an American dollar has
a larger purchasing power abroad
TIM it had in 1914.
"The Democratic tariff law of 1919
was framed with a view to Connect
tive IMPORTS That was frankly as
serted by Representative (noW Sena- /
tori Oscar Underwood, the father of
the measure, who declared there is
not a line of protection in this bill
lie erred trifie in that statement. /
They took care of certain Southern I
agricultural products, but put Nor s
thern and Western agricultural pro- =
ducts on the free list. The Democrat
&c platform framed in New York also
declares for competitive imports
Ihey didn't receive lessons enough
n 1884, and they imagine the peo-
pie, because of the huge war sales,
nave forgotten what happened.
During the fiscal year 1924 the
balance in our favor in the exchange
II merchandise with the world total
ID 100000. In the fiscal year
9l3, with a Republican tariff in
orce (the Payne-Aldrich law) our
aVOrable balance was $653, 900,
o the 1924 record was more than
1OO,O00,000 greater than in 1918.
he law framed by Mr.. Underwood
nd his colleagues began to show it's
aliber in April of the following
ear, when the balance turned
gainst us. In fact, it started sooner
nan that. The Underwood law was
assed October 3, 1918. In November
ur favorable balance was $97,000,-
DO; in December, $49,000,000; in
anuary the same; in February, $780,
10000; in March it sank to $5,000,-
10; and for the next five months the u
alance was against us, aggregating y
'9,OOO,OO0, or an average of nearly !.
100000. War orders then began to r
AXE themselves manifest, and from :,
len up to and including 1920 our q
alance sheet showed up strong. S,
here was a great deal of buying all n
yer the world for two years after F
Ie war, Europe seeking rehabiIita-
on materials, and Asia and the Lat le
americas coming here to buy pro- y
lcts unavailable in Europe. al
1t is beyond credence that the u
merican people will deliberately in e'
te repetition of the experience of l..
IA, when 100000 men were out u u
employment and industry and ag- ii
culture were paralyzed. Yet 1914 y
rs but repetition of 1894-97 under sa
e so-called Wilson law. The stu
ion today is aggravated by the =
ct that the disparity in wage
1AOS III Ju6 UulI6Q states and ~
road is much greater than in pre- h
lr days; deprecated currencies
road give the American dollar an R
hanced purchasing power; our ag- l
cultural sections are but just re-
Vering from the slump due to t53
mocratic defation and can i'll af- y,
d to encounter the stiff competi- l.
n in store for them should a IS
tariff law be adopted; ,
l industry has only recently been
ting back to anything like a nor o
state of affairs. To disturb that pari
uld be to curtail the purchasing r
yer of our wOrkingmen and rend- ioye
confusion worse confounded. ing.
The Republican Party has achiev- A,
a great deal for the reconstruc- ewes
/ of the country-more in the first
years of its control than in the
two, when the majority in Con-
IS was more nominal than real. c
are just about getting down to
ming heat with fine prospects for
ing period of prosperity, if it is 49,,
interrupted by complete 7OO
nge of party and policy. The far
s are getting better prices, and 8 So
lstry is accommodating itself to
economic situation. In the face ~
ii this, why Changer" q