Evening star., 1933-08-09

On1clal reports, showing increased for
elgn trade for the month of June, are
made the basis Of discussions as to the
probable cause. Tariff supporters and
opponents engage in a debate. while it
is a matter of interest that the increases
have developed in spite of seasonal
tendencies and currency quotations
abroad. The larger totals are received
with general satisfaction.
1t is pointed out by the New York
Times that marked improvement is
shown for the second consecutive
month in season of the year when
there is usually decline" The Times
states that expansion of business ac-
tivity created a fresh demand for raw
materials" and that large gains we're
made in imports Of manufactured
wool. raw silk. hides and skins, pulp
wood. ferro-manganese. aluminium, tin
and nickel" The Times believes that
further gains may be achieved if.
through reciprocal treaties. the United
/ States helps to remove some of the bar
| rierS put in the path of international
/ trade during the depression" That
paper also comments: The record of
the last two months is sharply at odds
with the prediction that a deprecated
| dollar would grealy stimulate our eX-
| ports and at the same time curtail i'm
| ports. 1t was urged by those who held
| this view that cheap currency would
enable us to undersen competitors in
foreign markets. while making it more
difficult for Americans to buy abroad.
But imports have been increasing rap
| idly with the expanding needs of busi-
ness, while exports have advanced more
| sloWly-partly because the supposed
! advantageS of cheaper dollar have
been offset abroad by quotas and COM
pensating tariffs. specifically imposed
by many countries on imports from ma
tons with deprecated currency. Other
countries off gold have shared this ex-
perience. British exports for the first
six months of 1888 are 100000 pounds
below those of the same period last
year. despite the high hopes originally
entertained of trade advantages result
| ing from deprecated sterling"
1t is "heartening increase" accord
| ing to the Baltimore Evening Sun, which
adds that this verdict must be qualified.
| for it was "heartening only to those who
| look upon f1ourishing foreign trade as
sign of economic health The Sun
| holds that those who do not find salts
| faction in this development make up
large group and records that the
wheels are already beginning to turn
and the Tariff Commission has pre-
pared a report showing just what prod
ucts were imported in increasing guam
titles" 1t suspects that I'VE will have
higher tariffs on these commodities be-
| fore long
The report also inspired an argyll
ment on the tariff question from the
vNv-ty rGn1l Tv1fo ytHi oh Fr,dc
that the theory that our depression
has been caused by high tariffs or other
restrictions on foreign trade is being
roughly handled by economic and trade
developments in these days of reviving
business" The Union remarks that, "as
matter of fact. all through the de-
preston the reduction in our foreign
commerce has been less, relatively, than
in our domestic commerce" and that 'lt
appears that foreign commerce is COM
ing back, along with our domestic trade,
although there has been no change in
tariffs or in other conditions affecting
foreign trade" The Union concludes:
There need be no concern over our
foreign trade If our domestic trade can
be brought back to normal conditions.
The importation of certain raw mate
rails is essential to our manufacture for
domestic consumption, and this importa-
| ton of raw materials of manufacture
itself invites exports. If our domestic
commerce increases our foreign COM
merce will increase, notwithstanding
tariffs. quotas or anything else that the
delegates to the London International
Conference have been talking about,
without agreement or action"
"The fact that industry wanted more
raw materials may be the bright spot
in the foreign trade figures for Iune," :"
according to Sthe Wall Street journal,