Evening star., 1926-10-20
The Free Trade Manifesto.

Inc Free Trade Manifesto.
It is impossible to consider the
manifesto in favor of the removal Of
tariff walls signed by bankers. IN.
dustr2alfsts and merchants of sixteen
countries. including riN bankers Of
this country, save us primarily an ap,
peal for the lowering II not the aboli.
ton OF American protective duties.
The movement for the prepara ton Of
the manifesto started. it Is believed,
in Germany. lt was promoted in Eng.
land. Tho signatures are those of
European leaders in finance and busi-
ness. and the list is an impressive
and weighty one. The six American
bankers are conspicuously influential.
Already President Coolidge has in-
dicated that he regards this mani.
Iesto as Il menace to an American
institution which Is essential to the
prosperity of this country. AS for
the other nations, the matter of free
trade is FOR them to determine. The
United States. however, is committed
to a policy of protection The inter.
ests OF tn" bankers are not necessa ri
ly identical with those of the people
at large. Those who lend money In
ternationally are naturally in favor
or free trade, and importers take the
same position, but manufacturers and
wage carners want a full measure Of
protection.
II has been distinctly disclaimed
that this manifesto relates to the
American tariff. but bears upon the
European situation. That, however.
Is to be accepted with reserve" The
signatortes other than the six Amer
lean bankers represent countries that
are at present In debt TO ono another
or to the United States. This is the
only creditor nation in net terms Of
all the sixteen. 1t is at present chief
ly selling country. The purpose Of
the manifesto is to change the tariff
conditions SO as TO make II a buying
nation. TO furnish a market for Euro
pean goods, produced under the great
ly different economic conditions Of
those countries.
Tho economic syllogism which the
manifesto presents Is unQuesttonable,
from the European viewpoint: Lower
YOUR tariff barriers and let US sell our
goods in your market and we can pay
our debts. But the syllogism is not
complete. Prosperity Is the aim Of
every country whose unofficial repre-
sentatives have signed this manifesto.
It is likewise the aim of the United
States. Free trade would not spell
prosperity for this country. It would
mean the reduction Of the wage
standards and tho standards Of liv-
ing here. Competition with the cheap
er goods Of other lands would be i'm
possible on any other basis than a re-
duction Of those standards.
Altruism alone would justify acces-
sion TO the proposal to sweep away
all tariff walls. Not even those who
favor rate reduction for special in
free trade. The farmers who are urg-
ing some notifications for their own
benefit would not tolerate the oblit-
Grafton OF the barriers that have
been the largest factor in their pros.
perity In the past. The wage earners.
the artisans OF America, though con-
sumGrs-aS all people are consumers
---wo>sld not consent TO the opening
OF bI->act In the wall that keeps
out :he products OF the lower paid
workers Of Europe. for the sake Of
greater prosperity overseas.
Participation Of six American bank
ers In the manifesto merely puts
them IN the category OF tho special
pleaders for International stability.
They do not represent a commanding
influence in this country. great as Is
their power In the world OF finance.
This country ardently wants Euro
paan stability and prosperity. not for
the sake Of liquidation Of the debts
owing TO the United States. but for
the benefit OF humanity. But II Is
not disposed to sacrifice itself. the vel
fare Of It's people. for that ideal. II
the matter were put TO a vote the an.
swer would be overwhelmingly In the
aeGative.