Evening star., 1927-12-07

ceed with moderation, intent on fair
dealing, our economic prosperity
should go on indefinitely.
1.-THE greatest commercial advan-
tage, both for agriculture and indus
try lies in our enormous home mar
ket. 1t is the breadth of this market
which has encouraged mass produc-
ton on the farm and in the factory.
So long as our own people have an
advantage in this market they will
have an advantage in the world. No
other nation has anything like it.
That advantage is secured by the
policy of a protective tariff. If that
were removed mass production in
other countries, where the cost of the
plant and the rate of wages are far
less than in America, would have an
opportunity to develop, because it
would then have substantial equality
in access to our own market where it
undoubtedly could undersell domestic
production. We should have to reduce
our people and our property to their
levels in order to meet their competl-
ton. Otherwise, we should be forced
ont of business. Yet our present tariff
rates do not, nor do we wish them TO,
close our markets to great bodies OF
600 worth of imports came in en-
tireiy free of duty. This was nearly
two.thirds of our entire imports. 1t
is impOSSible to conceive how we can
better contribute to the balance of
trade in the world than to support a
policy that makes our country pros
porous, so that our people can pur-
chase our domestic products and lave
balance with which to enjoy the
diversity of the necessaries and the
luxuries that are produced in foreign
countries Under this policy we have
done we'll for our own people, have
not only taken large supplies from
other countries, but have been able tn
furnish them with the capital and
credit they so much need out of the
surplus of our own prosperity.
Serves Civilization.
"While our country does not indulge
itself in any desire to take charge OF
civilization, it has become the fore
most nation of the world in the assist
ance and the service which 1t rem
ders to other people. There is no
where A more devoted advocate OF
Deace. no other great power from
whom small nations feel such an abso-
lutte security from aggression. We are
solCitouS for the rights OF our Gov
ernment and our nationals, but we DO
not support them by indulging in a
truculent attitude. We are just as
solicitous to guard the rights of
others from our own intrusion, as we
are 10 guard our own. We are not
engaging in punitive activities. We
have restored the damages paid us by
China, pursued a like policy with
Persia. have already returned hun
dreds of millions of dollars of Germa
and Austrian property, and shall un-
doubtedIy return the balance at a con
siderable sacrifice to our own Treas
ury. We have settled our differences
with other nations by means of Claims
Commissions and resort to arbitration
In 115 years, we have been only three
times engaged in foreign conflict. Two
of these did not rise to great impOr-
tance and caused but small loss of
life. Our ways are the ways Of peace.
We have earnestly sought and are
continuing to seek to extend a policy
of limitation of ornaments. which we
established by our own enormous sac
rifices. We shall explore all sugges-
gestions made for further covenants,
and enter into them when we rea SON.
ably can. which would add security to
the peace of the world
Efforts will constantly be made to
break down the system which has
built up our general welfare Some
of us will be selfish enough to attempt
to sacrifice the interests of the rest
| of us. Our party has adopted q policy
| OF supporting all legitimate enterprise.
While we believe the welfare of the
| people in general should have our first
consideration, we also have the sup.
Elementary desire OF promoting the
welfare of finance. We wish our
banking institutions to be strong and
profitable in order that they may
| serve the needs of the Nation. We