Evening star., 1933-02-26
ROOsevelt's Task Will Be to Establish
Economic Unity in Family Of Nations

import quotas. import licenses, import
prohibitions and generally excessive
tariff duties" They declare In a strik-
ing epigram:
"It Is impossible to maintain an inter-
national economic system except on the
basis Of an intentional economic sys-
tenn"
They declare specifically and out
rightly:
1.-THE objective of the International
Monetary and Economic Conference, SO
far as tariff policy Is concerned, must
be to reach q general agreement for the
reduction Of tariffs and for the mainte-
nance Of more moderate tariff policies
In the future"
In other words: <
The United States cannot have both
the international universal monetary
standard which 1t desires and also the
excessive tariff duties" which, to date,
1t has also desired. It must choose.
It can continue its present tariff
duties and help to split the world into
contending currency systems, with
possible primacy in world trade and in
world money for the cunningly contrived
British "sterlingaria
Or it can abate its present tariff du-
ties and strive to reunite the world into
|
standard, with q strong chance that
those congenital and inveterate mer-
chants and traders-the British-wtll
then subordinate the minor profits of a
''sterlingaria" to the major profits Of
full membership in trading and inter-
trading complete human race.
Faced with this choice, the states
men Of Warrington utter widely con-
.ficting views. Some say that interr1a-
tional trade Is at best q perilous un-
dertaking, always at the mercy of for
eign legislative enactment, and they are
willing largely to forego 1t, even II the
result should be international currency
wars. Others set q high value upon in
ternational trade and are willing to
make large readjustments in order to
get it. Among these latter is Senator
Cordell Hull Of Tennessee, who will be
Secretary Of State in Mr.. Roosevelt's
cabinet
In response to an inquiry from this
writer, Senator Hull says:
THE progressive readjuStment down.
ward of trade barriers constitutes one
phase Of series of major factors in
her that our Government should pro-
out Of common policy Of disseminating
any further increases Of tariffs and of
effecting a horizontal reduction of 10
per cent of their respective permanent
tariff rates. I have not checked that
statement with specific subsequent eco
nomic developments; but in any event
shall hope to do teamwork with, those
entertaining such views in general"
Mr.. Hull, as Secretary of State, will
find people of such views in all coun-
tries, and also, in all countries, people
Of the contrary views. 1t is not case
Of Americans against foreigners. It is a
case of conscientious "secessionists"
everywhere against conscientious uni
versalists" everywhere. That is why the
approaching international Monetary and
Economic Conference wears the aspect
of an International economic constitu-
tional convention which will give to the
world-from an economic point of view
either more perfect union" or else
a clutter of considerations
And that is also why one of Mr.. Hull's
first official acts, as Secretary of State,
should be to send for Sir Basil Blackett.
Copyright. 1933)