Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-10
BY WILLIAM HARD.

Foreign relations promise now to be
considerable theme in the presiden-
tial campaign Of next year. This de.
velopment has been emphasized ana
accelerated by the meeting Of the
United States Chamber Of Commerce
in Atlantic City and by the meeting OF
the International Chamber Of Com
merce here in washington. Among the
delegates to both these meetings a
large stress has been placed upon the
asserted importance of foreign trade as
a means toward industrial recovery for
the United States and for the whole
world.
Fresh aid has thus been given to the
general point of view taken by the
Democratic party At the same time
the Republican administration has ex-
hibited a fresh recoil from regard
ing foreign trade as the crux and
pivot of the American business prob
lem.
The Democrats have steadily main
tanned that our policies toward the
foreign world have been in high de-
gree responsible for the aggravating
Of our own domestic economic troubles.
This contention has now been strongly
supported by the vigorously expressed
sentiments of a large number OF emf
nent and powerful business charac-
tiers. both foreign and native, In the
Atlantic City and Washington assem-
blies. 1t becomes obvious that the
struggle waged next year by the Demo-
Gratis will be not so much one OF the
people" against the interests" as one
Of certain interests and ideas against
certain contrary interests and ideas.
In other words, the Democrats next
wear would seem likely 70 have much
more than their customary share OF
big business favor.
X *%
The principle involved, as they see
it, has been compactly expressed by
one of their favorite possible presi-
dental nominees, Mr.. Owen d. Young,
who said:
How can we market either our agri-
cultural or industrial surpluSes TO the
world so long as we act on the prtn-
ciple that we are not interested in the
welfare Of any one but ourselves? had
hoped that the old doctrine of narrow
and self-destroying Selfshness was being
supplanted in this new day by a con-
seriousness that men helped themselves
the most by helping others too. 1Sola-
ton in our politics, exclusion In our
tariff, means that we will retain as
just penalty to our own littleness the
agricultural and industrial surpluses
which We might otherwise market to the
peoples Of the world and which, so long
as they stay with US, destroy our own
prosperity"
Mr.. Young then went on to defend
and advocate large American invest
ments abroad and remarked:
THE much maligned international
bankers have done more in the last 10
years, and will do more in the next 10,
for the relief Of our farmer and our in
dustry than all the Government agen-
cies which have been or can be em-
ployed. The further development OF our
international finance will more than
anything else create actual buyers for
our SURPRISES of wheat and OF cotton
and for the products Of our mines and
factories"
It is to be noted that Mr.. Young's ar
guments for reduced tariff duties and
for enhanced investments abroad are
grounded in each case on the service
which he claims would thus be rendered
to the expansion of our foreign trade.
That same position precisely is taken by
the American international bankers and
the foreign delegates to the meeting
here Of the International Chamber of
still owed to the Treasury of the United
States by European governments. They
argue that the mitigation or can
collation. Of those debts would increase
the purchasing power Of Europe and
would expand our foreign trade with
European countries.
y y
From all high business sources enter
tanning such beliefs there Is a large
flow of potential sympathy today toward
the Democratic party, which, ever since
the era of Woodrow Wilson, has been
peculiarly impressed with the value
which a more intimate intercourse with
the foreign world might hold for the
United States.
X ~
Contrariwise, President Hoover, the in
dubitable nominee Of the Republican
party in 1882, is less and less disposed
to make sacrifices of immediate adVan-
tages now held by the United States in
| order to arrive at the ultimate adyan-
tages which 1t Is alleged that those sac
rifices would produce.
The basis of his attitude is 10 he
found In his estimate of foreign trade.
He and his most influential advisers re-
gard foreign trade as being important
| indeed, but as not constituting a major
| factor in the problem of the revival of
American industrial activity. The
United States, it is believed by the adj
ministration, viii make a business re-
covery mostly cut of forces within it.
self. Administration leaders think OF
American business as being 90 per cent
domestic and only 10 per cent foreign
and they look upon the foreign 10 per
cent as valuable but also inherently in
secure. They point to England as q
NI aCt Nf -L.A 4.
more perilous industrial situation
than any other country in the world
| by, az they allege, an excessive depend
ence upon capricious foreign markets
They are in essential agreement with
Prof. wallace Brett Donham. dean