Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-27
IMPORT BARRIERS
SCORED At FARLEY
ON FOREIGN TRADE
Speech by T. w. Lamont Held
to Hit at Tariff as Being
Artificial Bar.
FARRELL URGES BOOST
OF COMMODITY PRICES
Steel Head Eliminates Speech Text
Referring to Customs Levy
as Minor Slump Factor.
Ry the Associated Press.

~ the Associated Press.
NEW YORK, May 27.-Thomas w
Lamont of j. P. Morgan g. Co., welcom-
Trade Convention today, urged that
1--WE should attempt to discourage arti-
ticial barriers to foreign trade"
Mr.. Lamont did not mention the tariff
by name, but his statement brought ap-
plause from the convention and several
delegates assumed that the tariff was
one artificial barrier" he had in mind.
If we want foreign trade" the banker
said. I'VE must make it as easy as posi-
bic. Some people think the other fell
low always should buy.
Farrell Asks Price Hike.
His remarks preceded those of James
A. Farrell. president of the United
States Steel Corporation, who urged
that American business should work
diligently to preserve and develop the
foreign market.
His speech. as prepared for the press,
said that other causes" not the tariff
are the major factors which have
tended to disturb the balance between
production and consumption throughout
the world"
But Mr. Farrell, in his remarks as de-
livered, omitted all reference to the
tariff. The tariff occupies formal place
on the agenda of the council for the
first time in its history.
Peter Fletcher, president of the Ma
tional Council OF American Importers
and Traders, Inc, advocated a special
session of Congress to effect IS per
cent horizontal tariff cut on all ad
valorem rates and a so per cent cut
on all specific rates.
The United States, he said is bringing
about worldwide tariff war. Every
important country has built retaliation
tariff walls against this country, he
declared.
Harrington Gives Plan.
AN essential requirement Farrell
said in his spoken address, "of the pres
ent economic situation is an advance
in commodity prices. When prices fall,
buyers withdraw from the market. It is
rising prices that stimulate buying and
consumption, and a return Of prosperous
times. Anything. therefore, which tends
TO postpone recovery in commodity
prices should be discountenanced."
, Former Governor of Hawaii Far
rington proposed an 1l-point' pro-
sgram for the development Of foreign
trade in the Pacific area which included
an attack on the Oriental exclusion law.
Time and events have brought us to
a scientific method of immigration con-
..trol," he said. We have the quota
Flaw for all nations outside the Orient.
There Is every reason why our country
kShould apply this law to the peoples of
HAn nations outside our immediate neigh
bors of the North American continent"
h He also recommended the I'VE face
khe silver situation, and when request
Sing our government TO use its good
sabfdces for an international conference
offer q platform that will be supported. -
Paul r. Mahony, executive vice presi-
dent of the international B. F. Good
| rich Co., said the worldwide depression
!. was conferred in the United States and
9 had its roots in "a most damnable kind
4 of psychology" He pointed out that
even the consumption of such staples
as milk had been curtailed, and char
acterized reluctance to buy as an all
consuming plague"
WOOD LISTS TRADE ILLS.