The Daily Alaska empire., 1930-07-17
Americas Tariff.
Manchester Guardian.


  Manchester Guardian.
 Congress has at last passed the American Tariff Bill, and the Presidents signature has brought a long story of confusion virtually to an end. For q year and half the American public has been treated to the spectacle of open bargaining and wire pulling combined with a remarkable indiffer to the effect which the tariff might have upon international relations and apparently very clear sense of it's probable effect upon American econ omic life. It is hardly exaggeration to say that the two Houses have passed this knowing that it was not wanted except by the powerful in- terests which hoped to benefitconcerns like the Du Pont Company, for instance, which in 1928 made profit of over 66000000 dollars. Such are the friends of the bill. Abroad thirty countries have made their official protests-protests which the Orchards of the Republican Party have been far too busy to listen to. The Spanish and Swiss Am bassadors have actually gone to the length of Idemning the bill openly in America-a that has not unnaturally both rritated and alarmed pub lie opinion Canada has protested by taking good part of her trade elsewhere The Argentine, France and half dozen more countries have been con- Isidering the best way of doing the thing Nor has Congress had much encouragement lat home. The farmers, for whom this bill was originally designed, have been among the first to condemn it. American econmists of standing have pointed out it's evil consequences And of the most influential heads of big business have been appealing to the President to veto the bill MT
 
 crease unemployment and reduce the number If American jobs." MT. Mooney President of the Gen leral Motors Export Company describes it direct menace" to American prosperity. Tt woui be understatement" he adds "to say our foreign trade may be imperilled by the impending tariff It is already imperilled."
 Nevertheless Congress has dsregarded these waru ings, and that at a time when American exports were declining and the obvious need wa sto stimu- late trade not to hamper it. Indeed in the closing ( Stapa he n1adn tbary botta~ since the Senate set to work to raise the present sugar duty. It was in this debate that eight Sen ators were accused of trading their votes T am aware" said Senator Caraway at the end of the debate that no argument, information avail able or that might be produced will be effective in the vote that is pending The fate of this bill was settled by trade, an agreements That being true, argument is wasted; because when a matter becomes matter of trade of consideration of bar gain and sale, whatever the facts may be the result has been fixed" Such is the atmosphere of sus- lpicion in which these debates have ben held day after day. That Congress has hurried through the bill in the past few weeks be put down partly to the growing anger of business at being kept in so constant state of uncertainty, partly to MT Hoovers semi-official consultations with the lead CTS of the Republican Party. In these he made 1t quite plain that he would veto the bill unless the Senate gave way the two points most popular with its members-the farm export debenture plan and the flexible tariff provision. The threat was sufficient The Senate, which had been standing out for weeks, dropped the debenture plan and handed over to the Tariff Commission and the President the power of raising and lowering rates by 50 per cent There seems little doubt that MT Hoover will use this power to the full and make some attempt to repair the damage that has bee1 done by Congress in the past eighteen months But he must know that his power is limited The damage that this measure can do is ncalculable.
 The President placed in a most embarrassing position He was presented with Bill which it a1np1o otn6 hu tie ,rfl1 tl,o cost of living by 20 per cent and which will place the farmers whom he wished to help, in a worse state than they were before. Two courses lay open to him. He might veto the bill, and in doing so split his own party from top to bottom. But on the other hand, to sign it would be acting against the advice of his ablest economists and in the face of a worldwide hostility far greater and far more stubborn than America has known for many years He must have known that the blame for the huge burden which this bill will lay upon the consumer and the damage it will do to Americas export trade will ultimately and surely fall upon himself Already the Tariff Bill has probably done moca to discredit his Administration than anything else MT. Hoover was returned on the prosperity issue. year ago he regarded the only reliable guardian Of an unfaing horn of abundance Since then his reputation has been slowly declining When ne came to the White House he warned that | a crash was imminent. Yet he did nothing And here again, on the question of the tariff he has never taken any courageous and consistent attitude of opposition. Congress has been left to it's own wayward devices, while having an uncomfortable feeling that the President secretly disapproved O. it's widest eXcesses MT Hoover is far too good an economist not to know that trade is a matter of eXcnange and that by refusing to take other peoples goods America prevents them from buying from her What has she to gain from so impoyerishing her neighbors at time when we are all suffering from a world slump?
 Italy is said to be seeking loan from France