Evening star., 1933-01-03
Other States and Canada.
Sfember Of the Associated Press.
An Economic Program.

PreSident-elect Roosevelt Will not lsch
advice. A group of economists, pro-
fessors at leading American universities
and colleges, has united in submitting
to Mr.. Roosevelt at the opening of the
new year a program deemed es-
sential to the recovery OF the United
States First in the list Of recommenda-
tions submitted is a reciprocal lower
Ing Of tariffs" With this Is coupled
demand for prompt settlement OF the
interallied debts. The third proposal
is that the gold standard shall be main
tained. The economists argue that II
/ the tariff barriers can be removed and
international trade stimulated and the
debt situation can be cleared up 1t
will be possible for the foreign nations
which have hitherto gone of the gold
standard TO return to that standard,
which they regard as essential.
This is a man-sized program to put
up to any new administration. Prob
ably there is nothing that the politicians
dread more than general revision OF
the tariff. Nor does business as rule
look forward with pleasure to such leg
Hlation. Too often q revision OF the
tariff has been followed by strong
political reaction against the party in
power. The latest Democratic tariff act,
the Underwood-Eimmon law, put
through in 1913 after woodrow Wilson
became President, reduced the tariff
barriers. Had it not been for the out
break of the World War in 1914 mat
ters probably would have gone very Ill
for the Democrats in the ensuing
congressional elections. Industry was
slowing up In this country and the
grumblngs of the unemployed were In
the air. Furthermore, the Democrats
look back only three years to the trouble
the Republican party brought upon
itself by undertaking partial re-
vision Of the tariff. which in the
end became general revision.
The tariff is a subject which makes
the strongest politician shudder when
It comes to actual revision, a mat
ter Of which to talk glfbly In cam
paigns, but to be considered with bated
breath when Congress convenes.
The economists who have written
their opinions for Mr.. Roosevelt, it will
be noted, propose not q mere lowering
Of the tariff rates imposed by law by
the United States. They recommend
a reciprocal lowering Of tariffs" This
means that France. Germany and other
foreign nations are 10 be requested TO
make concessions as well as this country
in the matter Of reduced rates on i'm
ported articles. If tariffs are TO be re-
duced, then 1t Is assuredly to the III
terests Of the American people thst
they receive their quid pro quo. No
use to tear down the tariff structure
for the protection Of American industry
and agriculture II the foreigners are
to retain their barriers against the i'm
portation Of American goods. Persuad-
ing the foreign governments to elm
mate the arbitrary treatment Of Ameri-
can products in which they have In
dulged in recent years may be difficult
But If there is to be tariff revision, such
q course should be insisted upon. If
the interests of the United States as
well as all the world can be served by
this plan Of action, 1t might well be
tried. But Q mere lowering Of the
American tariff, with no agreements by
the foreign nations, would be suicidal.
The recommendation that there be
prompt settlement Of the interallied
debts is wise. But how are they to be
settled? There is the rub. The foreign
nations have come to regard the debts
from one point Of view: they are not
to be paid. That is, not to the United
States. Mr.. Roosevelt and his party
,shave declared against debt cancellation.
They SO far have been unwilling to dis
cuSs debt revision. 1t will not be long,
however, before the Democrats will have
to fish or cut bait on this debt question.
They viii be unable to say to President
Hoover: This Is your job, you do 1t any
way you like" Once they are in power,
doubtless the Democrats viii seek Re-
publican cooperation In this matter
Of debt settlement. Certainly they viii
seek Republican favor for whatever
plan is brought forward by them.