Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-04
CUT IN LAND ARMS
URGED BY HOOVER
President Tells Session Tax
Burdens Hinder Recupera-
ton From Depression.
Continued From First Page.)

Intervention has only been temporary"
After a review of world business
which he said was depressed "as never
before in history" M. Theunis con-
tinued:
THE economic depression has Gre
ated a psychology of depression, dis
enlargement and pessimism which Is
aggravatirtg and prolonging the present
state of affairs by strangling fruitful
and creative initiative.
This is the vicious circle which will
have to be broken some day. On the
day on which a sufficient number of
people are convinced that better times
are in sight a wave Of contagious opti-
mism will spread, following a few false
starts, and will set the economic ma
chine in full motion again. This is
the cause to which we, in the 1nterna-
tional Chamber of Commerce, are
earnestly devoted, however heavy
burden our task may prove to be-"
Although not mentioning the Amer
lean Farm Boards attempt to stabilize
prices by buying up agricultural sur
pluses Of wheat and cotton, he described
Government Intervention to fix farm
prices as an error which Is hardly
excusable, for experience has proved
that such intervention can only prolong
the crisis, and that these stocks pur-
chased at very high prices prove very
expensive to the taxpayers"
Chairman Strawn formally welcomed
the delegates to this country after Pres
ident Hoover had spoken, and voiced
confidence that beneficial results would
flow from the gathering. The invoca-
ton was pronounced by Rev. Z. Barney
Phillips, rector of the Church of the
Epiphany and chaplain of the Senate.
Session Scene Shifted.
The sessions Of the International
Chamber of Commerce were transferred
from Constitution Hall this afternoon
to the home of the United States Cham
Der of Commerce, where the subsequent
sessions will be held until the congress
is concluded Saturday. This afternoon
was given over to discussion of the
world trade from the point of view OF
Europe, Latin America, the Far East
and the United States
John H. Fahay, Boston publisher, in
a general discussion of Europe United
States trade, covering the past 80 years,
declared that the relationships between
Europe and America are Of first import
ance TO civilization, adding:
"As commerce between them develops
in increasing volume, its reactions are
apparent in every corner Of the globe"
came to the defense Of the American
tariff, which just last week was under
fire at the United States Chamber OF
Commerce.
I'm our own country during the past
year, our Congress passed a tariff act,
materially increasing number of tariff
rates." Fahey said. Generally speak
ing, however, the extent of such in
creases was considerably less than was
feared by foreign manufacturers when
the first schedules were presented.
Rates Higher Than Need.
Some Of the rates incorporated in the
new law, have proved to be higher than
necessary to reasonably equalize the
difference between the cost or produc-
ton in the United States and foreign
countries. The United States Tariff
Commission has, after investigation,
made certain recommendations to the
President for decreases in rates, and
these have been proclaimed promptly.
I'm a few Instances slight increases
have also been made. 1t does not ap-
pear to be fully realized by the business
men of foreign countries that under
our tariff law as 1t stands at present
foreign importers may place the facts
fairly before our United States Tariff
Commission If they feel our tariff rates
on their merchandise are based upon
misunderstanding of the fact or are
unfair The Tariff Commission has
full authority to make recommended
lions for changes in rates to tbs Presi-
dent. or Congress from time to time.
So far as we are aware, the tariff sys-
tenn of no foreign country affords to
importers corresponding opportunity
to present to government authority
facts affecting the importation Of their
merchandise"
Aid in Sterilization.
Fahey said that while the govern
ments can do some thing to bring about
greater sterilization of international
trade in the future, only partial assist
ance can be expected in that direction
For many years to come, he said, it
seems that wise action for the preven-
ton Of a dangerous imitation and ex-
pansion must depend upon rhe more
rapid extension of real knowledge of
business science among business men
and financiers."
In the end, he said, success will be
secured through organized effort on the
part Of business men of all nations,
and the cordial cooperation of govern
mentS.
Ambassador Davila of Chile, discus