The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-06-13
BY WILLIAM PHILIP SIMMS
Serippa- Howard Foreign Editor

BY WILLIAM fEtlLlF SIMMN
scripps- Howard Foreign Editor
TORONTO, June BIN accord
with foreign opinion elsewhere,
Canada considers the prohibitive
tariff policy of the United States a
phase Of economic imperialism as
dangerous to the rest of the world
as was KaiseriSm prior to 1914.
And here, as in Europe and Latin
America, it is predicted that econo-
nically the United States is riding
for precisely the same kind Of fall
as Germany suffered, namely, at the
hands Of world bloc, or trade
coalitions that will retaliate with
some sort Of economic blockade.
The ultimate consequence Of
this most terrible blow against the
economic life of the world" as
foreigners call the Hawley- Smoot
tariff act, can only be tragedy for
all concerned, it is confidently
asserted.
Disaster Looms Ahead
First, the rest Of the world will
continue to slam its doors in the
face Of American trade, force the
migration Of American industry, iso-
late and stagnate American bust
ness within its own Chinese walls
and bring chronic unemployment to
American labor because of unstable
SURPRISES.
Second, 1t is urged, the United
States, now the creditor nation of
the world, will become less and less
its workshop and more and more
its banker, with increasingly tragic
consequences to the American
masses.
Third, a small group Of American
investors will sit back, like veritable
money barons, and draw dividends
from their foreign corporations
manned by foreign labor, while Jobs
for the millions within the United
States will grow scarcer and scarcer.
War Even Is Threatened
Fourth, thanks to the tariff war
begun at Washington, foreigners
sooner or later will find it impossible
TO pay back the almost 10000, 000,-
900 which they now owe Americans
An amount equal to more than a
third of the total national wealth of
the United States in 1900. Cancella-
tons then will be in order, at least
OF reparations and war debts.
Fifth. there even is danger of war.
Fundamentally wars are always the
result Of economic and industrial
strife. The first law of nations, like
the first law Of nature, is to fight
for survival.
There has never been time when
economic strife was more dangerous
than it is now, it is pointed out.
Today the world is armed as it
never was before. It is spending
about $5,000000,000 annually on war
machines, or 10 per cent more than
In 1914. Some 25,000,000 men are
under arms or in reserve. vastly
more than the nations martialed be-
fore the World war.
Just as Important as Wars
One reason assigned for this is
the economic unrest everywhere,
and the fears and suspicious aris-
ing therefrom.
President Herbert Hoover's plea
for international cooperation to
reduce the burden of ornaments
seems universally supported here,
but few believe there is much hope
as long as the present economic
throat-cutting continues.
Here and elsewhere abroad I
hear it said that tariffs and other
economic barriers in the way of
no. nal commerce are just as
da yerous as poison gas, warplanes
ar battleShips in world of
h nan beings struggling for the
p41ce of its loaf of daily bread.
At the bottom of every war Is
some economic reason. An over
burden of ornaments may precipi-
tate conflict, but the cause itself
goes deeper. Economic disarma-
ment, therefore, is considered every
bit as important as the reduction
of armies and navieS.
Menace Unstable Peace
Trade blockades are seen as not
only delaying the return of pros
perity, but as menacing the none
too stable peace.
The United States stands ac-
cused of leading the world along
this new and perilouS road 1t has
locked. barred and bolted its doors
against the goods of most other ma
tons, and the tariff war. thus be-
gun, is spreading.
An economic United States Of
Europe is slowly coming into being.
A customs union of Latin America
again is to the fore.
Russia feveriShly is arming eco
nomically as we'll as militarily with
the avowed intention of winning for
uneasy world is wondering, afraid
how big that place is to be.
without a friendlier economic
understanding. therefore, among
the leading nations of the world,
foreigners see little hope of an early
end to the turmoil now blocking the