Evening star., 1926-05-11
DINNER SPEAKERS
TALK WORLD TRADE
Owen D. Young, J. H. Barnes
and Others Tell Chamber
Group of Principles.

Although political agencies are Use
full IN defining what the obligations
between nations are, they cannot ere
ate the means of payment of debts,
declared owen -. Young. former Ill
rector general OF reparations and one
OF the sponsors for the Dawes plan,
at q dinner last night III honor of the
American committee of the Interna-
tioual Chamber of Commerce at the
MayfoWer Hotel.
"They may have the power OF taxa
ton, but taxation creates nothing, he
said. Mr.. Young said he felt sure that
Great Britain's general strike would
be settled and settled right.
Julius II. Barnes. former president
Of the Chamber of Commerce OF the
United States and associated with Mr..
Young and others III formation of the
Dawes plan In his address attributed
EnglandS 3 strike to failure to observe
Fundamental economic principles. Mr..
Barnes recalled that at the Rome CON
vention of the international organlZa-
ton three years ago AN American
declaration us well as the principle
for increasing production, especially
as to industrial relations, was unanl
mouSly adopted.
THAT declaration is coming into
play" he said. Missions OF British
organized industries and trade union
lists, coming here to find the secret
Of the extraordinary prosperity and
high living standards of America. age
beginning to realize the economic
truth on which the American declara-
tion was based.
Has Especial Point Now.
'"rhe declaration has especial point
I'LL
in Great Britain, which may rest on
the traditional violation of principles
laid down III this Rome declaration:
Namely, the adoption of every inven-
ton and mechanical device that en-
larges production; elimination of re-
strictions on individual output; stimu-
lation OF individual effort by relative
wages based on performance, and the
advantages of private ownership and
operation over State ownership and
operation"
America is at present intensely in
terested in two major phases of the
foreign situation, MIR. Barnes added
Government interference with the
flow OF commodities in response to
the attraction OF supply and demahd.
and the attempts of other countries,
anxious for entry into the great mar
kets of America, to raise the question
of a national protective tariff as a
trade barrier.
Il believe l. a national conviction
and the national conscience that the
principle of our protective tariff-as
far as the principle can be practically
applied, difficult as it isis that the
measure of that protection shall be
the difference between wage scales
and living standards Of our own
workers and those whose cheaper ef
forts may seek to undermine our own.
I find few leaders of industry IN
America who would not be willing to
rest their commercial success in re-
tanning home markets and those
abroad on the qualities OF resource
fulness and enterprise alone, without
protective tariff, just as soon as the
worlds wage scales and living stand.
ards approach our own. So that halt
ingly and imperfect as the applica-
ton of the principle may be, there
is an underlying fair principle in our
protective tariff which we may we'll
argue the world to preserve in its
own interest