Evening star., 1931-12-06
CONNALLY EXPECTS
TARIFF CUT VETO.
Declares in Radio Forum Talk
Democrats viii Not Shirk
Responsibilities.

Despite a presidential veto which he
predicted for any tariff reduction bill
approved at this session of Congress,
Senator Tom COnnally, Democrat, of
Texas, declared in a radio speech last
night that the Democrats would not
shtrk their legislative responsibility, so
far as it lies within their power to
open up the channels of foreign trade
Senator Connally, who is a member
Of the Senate Finance Committee, which
handles taxation and tariff legislation
was the speaker in the National Radio
Forum arranged by The Washington
coast network of the Columbia Broad
casting System.
Senator ConnaIly did not charge
that the HaWley-SmoOt tariff was "en-
tirely responsible" for existing economic
distress, but assailed it as a contribut-
ing factor in the most heart breaking
depression that has blighted commerce
and industry of the United States
within half century"
Reciprocity Proposed.
Reminding that general revision
probably cannot be undertaken for
lack of time at this session, the Texas
leader said:
"A bill repeating the present law and
restoring the old Fordney- -McCumber
rates has been suggested. There are
those who propose the enactment of
legislation based on reciprocity with
foreign nations. No one knows what
may tranSpire.
1T is assumed that the President
will veto any amehOration of tariff
burdens" Senator Connally further de-
clared. mo one believes that he will
be willing to lessen the high rates
now in effect. While moderate tariff
revision could be passed in the Senate,
it would certainly meet an executive
veto"
Declaring that Legislative control al
ways carries legislative responsibility,
Senator Connally stated that there will
be no shirking by the Democrats.
so far as it lies within their power
they will open up the channels of for
eign trade" he added. They hope to
move our surplus of wheat and cotton
and agricultural products and other ex-
port commodities to foreign markets
Business will never revive until the pur-
chasing power of agriculture, labor and
the producing classes is restored"
Contributing Factors.
hJtI4dGOl AOAlIldlly NCNldL Cu llC IOuIu
not deny that the unfortunate enact
ment Of the tariff act of 1880 largely
contributed to the disasters which now
surround us, although he did not place
upon it all the burden Of blame He
declared the tariff guilty of restricting
foreign trade by 81 1873, 900, 900 below the
imports Of 1929, pointing out that dur
ing the first 10 months Of this year
imports had fallen of another billion
dollars.
World trade is in traffic JAM" he
declared. Business is not moving The
tax upon it is too great. We cannot sci!
our goods abroad unless We also buy.
When we refuse to buy foreign goods,
they refuse to buy ours"
Other contributing factors to the de-
preston, Senator COnnally declared, are
postwar deflation, overcapitalization of
industry, stock market gambling, the
fall in the price Of silver and the in
crease in the value of gold. War debts,
both national and of corporations, in
dustries and individuals have had their
effects in producing conditions" he
added
Some of these abuses cannot be cor
rected by legislation" Senator ConnaIIy
said. Some lie beyond our shores"