The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-02-04
World Cut in Tariffs
Urged by COrdeH Hill,
Likely State Secretary
Economic Farley to End
Trade Barriers Sought
to Speed Recovery.
RX NIARCuAII NIoNrEII
BY MARSHALL McNEl
Times staff Writer

Cordell Hull Dem, Tenn who is
regarded widely as President Elect
Franklin D. Roosevelts choice for
secretary of state, proposes that the
United States call an International
economic conference, and suggest
to the nations of the world a COM
mon policy against further trade
barriers and a reduction of 10 per
cent of the respective permanent
tariff rates.
This, he believed, is the way to
world recovery.
On other international issues he
is known by his record to stand as
follows:
World Court-He's for it.
DiSarmament-He'S for it. but be-
lieves that economic disarmament
must precede military disarmament.
Russian recognition-fIe is silent
on it.
War Debts-He does not see in
them any panacea for world recov-
cry, but believes that in the eco
nomic conference he proposes these
and all other debts should be dis
cuSSed.
Third in U. S. Power
Senator Hull, just back from
Warm Springs. Ca, where he con-
ferred with Mr.. Roosevelt, declines
either to confirm or deny the wide
spread reports that he is to be the
next secretary of state-third in
power in this government.
His associates, however, sometimes
are addressing him as Mr.. Secre-
tary," and members of the Tennes-
see delegation are so convinced that
their colleague will get a cabinet post
that they are discussing his prob
able successor in the senate.
The statement of policy which
would be expected to guide Mr.. Hull
II he were given the foreign rela-
tions portfolio was enunciated by
him in statement two months ago.
The United States since 1920.
with its greatly superior power and
prestige, having led other countries
to these unprecedented heights of
tariff and other trade obstacles.
should proceed now to lead in the
opposite direction of sanity and
sound business recovery" Senator
Hull said then.
PrOn0cQS Cop1n1ox1 IND
TO this end it is my individual
opinion that our government should
propose to other governments, act
ing individually and separately, the
carrying out OF a common policy of
disseminating any further increases
of tariff and similar trade obStruc-
tons, and of effecting a horizon
tai reduction Of 10 per cent of their
permanent tariff rates.
Our government, as an evidence
OF its good faith, should announce
its unqualified purpose thus to take
the lead.
Reciprocal commercial treaties
based on mutual tariff concessions
and, as nearly as possible, the I'M
conditional favored-nation policy if
other governments will agree, great
ly would supplement the usual legis-
lative method Of tariff readiust-
ment.
Each government we'll could be
requested to consider a policy dis
continuing artificial protection for
any individual business that patent
ly is inefficient on account of anti
quated plant, or incompetent man
agement, or Aopelessly inflated cap
ital structure, or for business that
is clearly not economically justifi-
able.
Set on Tariff Policy
"All efficient industry thereby
would be placed upon much
healthier and more prosperous basis.
Without reference to the merits
OF government debts due us, each
important country, before seeking
separate and preferential considera-
ton Of their claims for further re-
duction, first should indicate their
attitude toward this broader and
more fundamental program.
This government, individually
then could hear and consider the
applications of our debtor govern
ments for further debt readjust-
ment.
This it should do entirely sepa-
rately from, but simultaneously
with or following, the proceedings of
a world economic conference deal
ing with and acting on tariff policy
not tariff rateS-and monetary
stability and rehabilitation, credit
policy and economic disarmament
generally.
Get Rid of Surplus
This statement and the remainder
of HullS record in the senate and
house indicates that if he becomes
secretary of state he will concen-
trate almost wholly upon economic
problems to stimulate foreign trade
so We may be rid of our SURPRISES.
A further indication, if any is
needed, is in the fact that Hull
helped write the Democratic plat
form, which declares for reciprocal
tariff agreements with other ma
tons, and an international economic
conference designed to restore in
ternational trade and facilitate ex-
change"
Hourly Temperatures
a. m...26 8 a. .26
ia. m.....27 9 a. m. ....26