Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-21

ticn of a great instrumentality of this
character, of strength and importance
equal to that of those which we have
created for transportation and banking
we give immediate assurance of the
determined purpose of the Government
to meet the difficulties of which we are
now aware. and to create an agency
through which constructive action for
the future will be assured"
Observe that the President makes nc
reference to the "debenture plan" said
to be very dear to many of our legis-
lators and whereof we are likely to
hear much before enactment of a farm
relief measure.
All the above might by the we'll in
formed have been discounted in view OF
previous utterances of Mr.. Hoover, but
toward the end of his address he gives
us something, If not precisely novel. yet
unexpected. The principle of tariff
f1exibility he declares fully justified by
seven years of experience, but he recon-
mends reorganization of the Tariff
Commission and its methods in the
interest of efficiency and in especial
of far speedier action.
Still more interesting is the indica-
ton that the President favors partial
adoption of American valuation OF
imports. Says he:
considerable weaknesses on the adj
ministrative side of the tariff have de-
veloped, especially in the valuation for
assessments of duty. There are cases OF
differentiation that are difficult to dis
cover without access to the books OF
foreign manufacturers. which they are
reluctant to offer. This has become
also great source of friction abroad.
There are increasing shipments of goods
on consignment, particularly by foreign
shippers to concerns that they control
in the United States, and this practice
makes valuations difficult to determine
I believe it is desirable to furnish to
the Treasury sounder basis for valua-
ton in these and other cases."
This is little vague, but my under
standing is that it is proposed to retain
the present system of valuation, based
on foreign invoice prices, but to allow
our administrative officials the option
OF substituting American valuation In
case of shipments of foreign goods a.
to the productive costs of which they
cannot satisfy themselves. Already
cries of protest from over the water
especially from France, against any
such arrangement are being heard; and
we are likely to hear a great deal more
of this matter, particularly in connec-
! ton with vigorous resumption (which
Immediately threatens) of the Franco
American tariff controversy, which was
suspended by the agreement of Novem-
Der, 1927, for which no term was fixed
Il X X \
GERMANY.--Accor to our infor-
nation (Which requires official confir-
mation) the plan Ito Supersede the
Dawes plan) presented by the allied rep
reSentatives on the international experts
committee to their German colleagues
calls for total German payment in
neighborhood of 10000 900, 900 marks
(the total inferentially contemplated by
the Dawes plan was about 47,000, 000,-
000). OF this new total about 26,500,-
0O0, 900 marks would be used for pay
ment in full of the annuities of the
debts of the several allies to the United
States up to the end of that melancholy
chapter (58 years from now, for serv-
ice of the Dawes plan loan, and for
reimbursement to the United States OF
the costs of our Army Of Occupation,
while the remainder would be paid In
inStallmentS over briefer period by
way of reimbursement Of sums spent In
repairing war damage. Under the lat
ter head, France would get about 7,000,-
000, 900 marks, a very minor fraction OF
the total costs of French restoration.
Observe that above figures are present.
value.
The problem Of commercialization Of
part of the debt would, according to
our information, be left entirely to the
authorities Of the international bank
contemplated as a feature of the new
plan.
We are further informed that deliver
les in kind would continue for 10 years
ION considerable scale, but thereafter
would cease In recognition Of the British
claim that the system unfairly affects