Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-07
TARIFF ACT RAPED
AS ECONOMIC BLOW
Peace Foundation DenounceS
SmoOt-HaWIey LaW-Labor
Chiefs Position.
BY JOHN F. SINCLAIR.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, April THE Carnegie
Foundation for International Peace has
issued sweeping denunciation of the
Hawley-Smoot tariff act which in
creased United States import duties on
800 different commodities. Here is the
summation of the article:
ut was a blow struck by one nation
at the economic stability of 60 nations.
1t was a blind, desperate effort
of a great country to hang on to the
top of the ladder by kicking at every
other country A national tariff
act. passed in utter disregard of its
consequences abroad, is today an an
achronism. It is a throwbacE to an age
of savage conquest"
The foundation contends that because
of the Hawley-Smoot act As different
countries already have increased their
tariff duties that American exports have
dropped off more than 000,000,000
since last July, and that American i'm
ports in the same period have been
cut about $1,000, 100000 in value.
And along with the foundations de-
nunciation comes an announcement
from William Green, president of the
American Federation of Labor, that or
ganized labor will join any movement
for a downward tariff revision unless
certain highly protected industrialiStS
halt their wage-slashing campaign"
And what a fight that is liable to
develop!
Result in Doubt
When Gandhi decided that instead
of sending Is delegates to the next
Round Table Conference on India in
London-the number to which the ALL
India National Congress is entitled-he
would send only five. the news created
a sensation both in India and in Great
Britain. Gandhi considers Is an I'M
wieldly number, whereas delegates, he
believes, can do much more effective
work.
But imagine British establishment at
being told that Gandhi has decided to
be the whole delegation himself. And
India, too, is just as surprised as Great
Britain.
Gandhi was successful in his recent
negotiations with the viceroy, Lord
Irwin. So the Indian leader believes he
can repeat this success in London.
Gandhi expects to take along with
him Miss Madeline Slade, the daughter
of an English admiral, as his personal
secretary and adviser, as well as three
of four other members of the national
cabinet and few experts in finance
and business.
Will Gandhi be able to carry his own
people along with him in the program
which is finally adopted? Many of In
dias younger leaders are much more
radical than he is, and this powerful
Indian leader has insisted all along on
unqualified seIf-determination and in
dependence OF the people" themselves.
The next few weeks will be critical
ones. Ms one is attempting to predict
the result. But from a purely business
standpoint Great Britain will do well
to counsel with Gandhi. For if he fails,
the more radical elements in India may
coma in and destroy what has already
been accomplished.
Il will be interesting to watch the
coming Round Table Conference and
see how well 80 pounds of humanity
can really represent the hopes and aspi-
rations of midas 300,0o0,o00 people.
Atlantic City Conference.
When the United States Chamber
Of Commerce meets at Atlantic City at
its annual convention the last week Of
this month, it will have plenty Of ma
teriaI available for discussion.
Should the antitrust laws be changed?
Should wages be stabilized at their
present levels? Or should they be
brought into line with the lower price
level? Would State unemployment in
surance be a good thing? Or should
industry tackle the job seriously?
Should the policies of the Farm Board
be modified or strengthened? Can the
Federal Reserve Banks do anything to
improve business conditions?
Immediately after the Atlantic City
meeting, the International Chamber OF
Commerce will hold its annual gather
ing at Washington. Some Of the world
outstanding leaders will speaE, including
Melvin A. Traylor, head OF the First
Bank of Chicago: Owen D. Young OF
New York. President Meyer Of the
European Steel Cartel, and Alberto
Pirelli, Italian business leader
Both of these business gatherings viii
be largely attended and each will be
given over primarily to discussing rather
than deciding issues.
Believes Market Improved.
Paul Clay. one of the ablest econom-
lists in the United States, does not be-
lieve, as many seem TO- that the stock
market is going back into genuinely
bear movement"
The market must have time for gen.
eral trade to catch up to the improve
1nent in stock prices" says Mr.. Clay.
1.-The downward movement has the Ell
feet Of shaking out the weak ana tlmio.
and thus improving the position OF tne
market"
Mr.. Clay must have knitted his brow
yesterday when he saw United States
steel close at slightly less than 137--a
new low record for 1881. The drop in
this stock-a bell-eather to a number
of traders-signaled TO many that the
end Of the readjustment period was not
yet completed.
still, one mans guess is always just
as good as another's.
Copyright. 1881, by the North American
Newspaper AIhance)