Evening star., 1933-10-08
CONTINUED From First PAge)

EA8IlQcO QOWI dOIO0Q dlO nv oo - dAo
efeesine barrier. Complicated restric-
lie and often frustrate the ambitious
trader Levies of diverse and devious
sorts add to his other burdens. Credit
broblems are often difficult. Confidence
b. sorely shaken in many export fields
Here and there nations are rent by rev.
klutionary convulsions, tending to par
SlyZe commerce and prevent the pay
ment Of bills. All these things, taken
to9ether, operate to battle or shackle
The exporter-and these. 1t must be
borne in mind. are vexations piled upon
She top OF the stagnant and treacher-
Gus bog of a worldwide depression.
In the broader intellectual sphere the
International trader finds himself strug-
Cling against a fresh, fierce fervor OF
burning nationalism in countless for
eign countrtes-an emotional zeal that
seems to rise at times to the point OF
mania. This passion engenders often a
savage animosity toward merchandise
Of any non domestic origin.
Small wonder, then. that disheart-
ening sluggishness has come upon the
nnce SO vigorous currents OF foreign
trade.
Point of Greatest Moment.
But here. it would appear, Is the poin,
Of e.eatest moment: Many business
hnen and economic commentators are
taking this existing bafnement ano
evolving from 1t philosophy" rigid
point Of view as to the future prospects
Foreign trade as we formerly knew II
(many Of them are saying now mas
had its day. Economic natonaliSm is
killing it, and 1t is hardly capable OF
resurrection Each nation, we are told
will shut itself up within ever higher
walls Of commercial exclusiveness and
repulsion-and behind these walls II
will devote its energies to the building
up Of q we'll rounded elf-containment
and self -sufIiciency. This policy will be
iurthered by elaborate systems OF ma
tional planning. under strict, compre-
hensive controls Thus international
trade. according to this thesis. will tend
to be relegated TO the wholly minor po-
ment Of materials (nlainly raw mate
riab)-a movement that may very
often be arranged" by the respective
governments This new theory and
principle If isolation is being designated
by a handy little word OF Greek deri-
vation-the word "autarchy."
Before comment upon these conten-
tions. let me make it very plain that !
am In no way referring here to the
Presidents energetic efforts to achieve
for us domestic reconstruction first OF
all. It is natural and inevitable that
the great drive should be made to re-
constitute the national prosperity Of the
United States, and that this drive
should take precedence over all external
influences or considerations at this
time. We can furnish by all odds the
most potent single contribution that
can be made to world welfare by get
ting ourselves upon our feet, and seeing
that our domestic business mechanism
functions with decent adequacy.
These administration measures are a
thing entirely apart from the denuncia-
ton OF the very principle of foreign
trade which we encounter all too often
IN private quarters. Many Of these at
tacks are manifestly short-visioned,
based on false or incomplete premises.
In numerous articles We are adjured to
"jettison' foreign trAde-to throw it
overheard or ignore it. Misleading un-
derstatements of its importance are put
out. 1t Is mentioned scornfully. almost
: jeeringly. We are told by the extrem-
lists that foreign trade Is no longer
feasible, no longer worth while. 1t has
become, we are urged to believe. an
elusive commercial will-o'-the-w wisp
which no rational patriotic American
should waste his time pursuing.
Billions of Dollars in Peril.
Just how much truth, if any, is there
in these statements? The answer to
this question, as I have already inti-
mated. is enormously important. If
foreign trade goes. billions OF dollars
of our international investments Will
surely share its shipwreck, with heavy
losses to tens Of thousands OF small
investors all over the country. Vast
material interests are indissolubly
bound I'D with Americas export effort
The bread and butter of great army
of American workers and farmers and
their families lie in the balance with
the fate Of our foreign trade.
In the first place. do not the acrlo
critics Of foreign trade exaggerate the
element Of permanence in "autarchy -
this nationalistic quarantining during
the worldwide economic plague? Do
they not mistake transitional phase
for the groundwork of new system?
In viewing the foreign (and more es-
pecially the European) scene. do they
not sometimes misinterpret expedlents
mere makeshift devices abroad-devlces
arising often out of sheer bewlderment
or desperation on the part OF cropping
statesmen-and construe these wrongly
as the manifestations OF novel. rea
soned and enduring order? And 90
not these mental confusions result IN
grave injustice to the abiding values OF
foreign trade in our whole economic
and social system?
r1,ory nraof in modern times mas
been followed by furor Of nationals
tic suspicious and animosities-and in
evitably so. And a similar fervor OF
elf-preservation comes in the wake OF
every major economic devastation such
as that through which the world mas
now been passing. And the consequent
trade barriers are grim realities
gnarled, spiked, forbidding facts, in the
ewes of the exporter. They are here.
They may remain for years. But for
decades? I gravely doubt it. The COM
pelling logic of international commerce
is stronger than the verbosity of Herr
Geobbels or Herr FEEDER. or any OF their
tmitators in other lands. Reasonable
ness exeYts an inner compulsion OF It's
own-tending to demolish fictitious no
tions. And supporting reasonableness is
science, IS ] shall presently show.
cannot stop the Gulf Stream with the
backvssh from an cupboard motorboat,
however hag.bedecked it may be.
Many Matters Ignored.
The unrestrained adherents OF the
new isolation conveniently ignore .
great variety OF matters. Their un-
familiarity with the mechanics OF the
balance Of international payments is
frequently profound. They blithely
disregard some Of the most vital fac
tors. Simply because these do not
stand out with overpowering conspicu-
business to the public gaze.
It should scarcely be necessary to
emphasize that foreign trade-the ex-
change Of actual commodities between
nations-plays an obviously indispen.-
sable, though by no means unique, part
in the settlement of international OBJ
lisations. Those obligations are IN.