The Waterbury Democrat., 1931-10-05

his subjects.
 His eminent position is espe- cial apparent when it comes to suggesting his dethronement. So firmly installed has he been in fact, that anyone who raises his voice in criticism is sure to be si- fenced with no uncertain contempt.
 Even his golden majesty's throne. however. is no longer so firmly fixed. More than once has it been suggested that if the United States and France insist on taking most of the monetary gold of the world, why shouldn't they be al- lowed to have 1t all? Certainly no greater practical joke could be played on them. Such a solution, however, to the worlds immediate ills is as unrealizable as 1t is intel- ligent. While nothing could do more to relieve the drastically de- clining price levels of the gold standard world and to impel them to rise than an immediate substitu- ton of no-longer-needed gold sup plies for some of the present in- sistent gold demands, our caterpil- lar natures will not permit of so wide departure from well-berfb- boned paths.
 Tn spite of long suffering and poverty. his majesty's aristocracy and their cohorts are just as loyal as ever. Temporarily. against their ponderous importance. in the ruthless bala- es of experience, mere common sense is of incon- sequential weight"
 Professor Rogers analyses the important part the United States has played in the "maldistribution says that flor nations, as for fndf- or of big claims on others may change the course of life itself. Through such a change the United States seems to be going" He points out that fin the brief period of a decade and half. a great debtor was elevated into the posi- tion of very great creditor. Never before in history had so great a change in the international financial position of any country taken place in many times so long a period; and never before had a people so completely lacking in international experience been thus thrown into a position of such world import ance. Moreover, the elevation had occurred without our seeking 1t. and without one in a thousand Of us even knowing it. Such are the automatic and mysterious opera tions of the blind forces which guide our destinies! In world dominated. as Is ours, by finances, the responsibilities of so high a po- sition are as delicate as they are colossal. Far from appreciating them, however, being ignorant of the position which. begets them. we certainly do not include its re- sponsibilities among our worries. We are neither knaves, nor care free morons. but simply children It is not a matter of shirking our international responsibilities; we do not even know that We havs any. To most of us. foreign peo- pie and their problems are still as | remote as the unfortunate heath en' for whom we used to contribute our pennies in Sunday school"
 The prominent part played by our high protective tariff in the present disastrous situation is be- yond serious question. Professor Rogers says.
 Aside from the political corrup- tion which it has engendered in oui national politics throughout more than a hundred years of our his tory, and aside, too. from the glaring domestic injustices which since its inception. it has created and maintained: on 1t can now bt laid the blame for very import ant part in the extraordinary mal' distribution of the money metal in the recent drastic and rapit decline of prices, and therefore 1T the worldwide depression. Int task remains to show how tariffi are being weighed in the balances
 Strange as it may seem. the un' believable political corruption which 1t has fostered. the harst injustice with which for more thar a century 1t has robbed whole sections of the country and whole classes of people, the great and ab surd inefiiciencies which it has in troduced into the industry of thu entire world, make little impress sion upon these ail-impcrtan and ruthless balances. In them other things are of greater weight
 ITO our great industrialists. | is becoming increasingly clea' that high protective tariffs are nj
 longer an aid but indeed a sever'
 handicap. When industries wer' struggling infants in world econ
 omy very crudely developed II this country. 1t was extremely com
 forting to know that they would b protected from the severe compc
 tition of well-develDped. highl, skilled. and formidable rival abroad. Moreover. ns they becam Istronger. it was still reassurins C