The Republican. [volume] (Oakland, Md.) 1877-current, 1932-12-15
NATIONAL AFFAIRS
By FRANK P. LITSCHERT

| eQly SelI-reHdnC ana CnrlILy. 1ney
can usually get along, prosperity OF
no prosperity, although, of course, like
the rest of US, they prefer the easier
financial times. But some of the
news coming out of the northeast to-
day is not so reassuring, especially
so far as our fishing industry is con-
cerned. Hardy New England fisher
folk are famed in song and story
They are supposed to go out in all
kinds of weather under all sorts of
conditions, and they generally do. But
now something has arisen with which
they are unable to cope. They may
be able to defeat the elements, but
they are now up against grim eco
nomic law.
Here is the trouble, as diagnosed
by the sound and logical Boston Tran
script:
"The tariff bill is the fisherman's
ally, but it's efficiency is neutralized
by low foreign currencies and gives
for less protection than when the gold
standard was in command of the ex-
changes of the world. By the slump
in foreign money values, the enor-
nous drop in wages abroad and the
resultant scaling of the tariff wall,
the foreign fishermen are able to
give the American fishermen too hard
run for their money.
"For instance, Maine sardine fac
tories have closed and the fishermen
have put up their boats There was
nothing else for them to do. Some of
them may be on the relief lists in
Maine. Norway is taking the sardine
business away from them with a sar-
dine that is so cheap that the Maine
producers cannot hold the market.
About two years ago Norway was ex-
porting 100000 cases of sardines to
the United States, and Maine was
producing 100000 cases at that time.
Today these figures are reversed, for
Norway is sending about 100000
cases this year and Maine will offer
only 100000 cases, according to Ed
ward H. Cooley, director of the Mas
sachusetts Fisheries Association"
So it is not only the manufacturer
and the grower who is suffering be-
cause of deprecated currencies over
the sea. The new economic situation
is giving plenty of trouble to our
fisherfolk, too. And it is not only the
sardine industry which is affected.
AS the Transcript points out, the Jap
anese salmon industry is running that
same industry in the United States
because our tariff is not sufficiently
protective against low wages and de-
preciated currency. Continuing the
Transcript says:
"a dollar buys so much salmon in
Japan today that it becomes relatively
improbable, if not wasteful, for the
American merchant to spend that dol
lar for American salmon In fact, he
cannot handle the American salmon
in connection with what comes from
Japan and bid for the common trade.
If the Japanese currency were
on a par with that of the United
States case of her salmon would
cost 80 cents; but since the fall from
the gold standard the yen has become
so low in value that it takes only
about sc cents to pay for it, and the
duty, being an ad valorem duty, adds
only few cents, bringing the Japan
csc salmon up to about "A cents to
compete with the American product
which comes to about $1.00. The seal
lops sold in Boston today bring $1.75
to So gallon, wholesale, while Japan
captures the Pacific coast trade with
her SIPS product"
Here is something for Congress to
think about. Instead Of needing to
have our tariff schedules reduced in
an effort to increase foreign trade, it
is evident that some of the schedules
ought to be increased to protect our
own industries against cheap currency
effects in Europe and Asia. This can
not be done by negotiating tariff and
trade agreements with various coun-
tries. That method would be far too
slow and too clumsy, requiring as it
would the sanction of two-thirds of
the members of the United States
Senate. What our industries which
are being seriously crippled by de-
based currency and resulting starva-
ton wages abroad, now need is some
direct action which will protect our
own producers: Here is one time
when we are confronted both by a
theory and a condition which dovetail.
The theory is that debased currency
lowers wages and living standards,
and permits the producer in that coun-
try to undersell the producer in the
nation which has sound, stable mon
ey. The condition is increasing I'M
employment in certain key industries
of America, and it is a condition
which ought to be remedied at once.
hunter in his day was sent for and he
OVID CooJxy NIGHTINGALE ~, Iacc 4bop