Henderson daily dispatch., 1934-04-27


tention that he is not Hammel,
bacco production are taken in foreign
trade These are our principal sagri-
cultural expirt products; but in addi-
tion small percentages of the oats,
corn, barley and rye produced in this
country are also sold in foreign mar
kets. If nationalistic program were
carried out, it would mean thot 40,-
100000 acres of land would have to
be taken out of the production. In
addition to the 100000 industrial
families, those living on these 100000
900 acres would have to be cared for
by the government.
Recovery Worldwide
World production and world employ
ment have now stepped up to the
point where leading nations are once
more beginning to look for expanding
markets abroad. To show how de-
moraliled world commerce has been
in the las few years, let us look at the
following figures: (The gold dollar
value of world trade in 1929 is taken
al 100 per cent. The average volume
fell to 81 per cent in 1890; 80 per cent
in 1882; and 1926 per cent in April
1888. United ESates exports and inn
potts slumped even more drastically-
to 20 per cent Of their 1929 high. Our
exports a., Il imports have now regain
ed Is per cent of this drop. This
makes a poor comparison with domes-
tic business activity, wh,ch has recov-
cred :t6 per cent of it's 1929-1933 de-
cline.
IN recent mc'Nihs there has been q
distinct lmprC vcnltnt in business con
ditiOnS not only in the United States
but throughout the world. Canada is
in the midst Of a sharp revival Ac
tiVity in Great Britain is back to the
levels Of the spring of 1880. Japan is
now seeing business far better thar
in 1929. Australia is at it's best levels
since the summer or 1880. Germany is
almost back to 1880 levels Other coun
tries with substantial recovery are
Hungry, Sweden and Argentina. Will
the possible exception of France, thu
recovery is now moving ahead on {
worldwide front. Let us hope thai
| this rebirth of world activity is break
ing down the 1913. .-33 trend toward
| economic natiDnalism3 on this contin
ent and abroad 4 i,
| Tariffs. Smothering World Trade !
! The. time has now come when the
administration should give strict at
tention to our foreign commerce. HigH
tariff barriers, unfair quota restric
| tionS, and in some cases actual EN-
bargoes are shackling our oversea!
trade. We cannot expect, however
that other nations will grant conces
sions in our favor if we, ourselves ar,
unwilling to make any corresponding
adjustments. am not in favor of Civ
ing the President too much tariff
power. The plan to give him author
ity to raise or lower tariffs by so pei
cent, however, may be the best way Il
handle our present problem. Recipro
cal agreements must be negotiated il
our foreign trade is to "come back"
The administration has already
| taken some steps toward recovery o.
our lost markets. The government:
new export agency is hard at worI
studying the foreign trade problem
Our resumption of relations witt
| Russia has reopened markets in tina
nation. The administration is attempt
| ing to work out revival program II
| Cuba. Part of our vast market il
| Canada has been lost through tht
| Ottawa Pact, but there still remain
huge trade which must not be neg
lected. It is time we met Canada half
way to establish a relationship ot
mutual concession and mutual ao
vantage. Unless we honestly ge
| down to business and work out tradt
! agreements, economic isolation vii
! be forced upon US. We will awake
some day and finu that Russia, Japan
and others have stolen our work
| markets
ISOLATION Breeds StagnatiOn
| Today we are trying to raise pur
chasing power through processing
taxes, crop destruction, and shorter
hours. 1t was through limiting crop!
that the British Empire is losing its
place as the leading rubber producer
Cuba as the biggest sugar planter
and Brazil as the principal coffee
grower. Maybe my economies are old
fashioned, tbut feel that a far less
dangerous method of restoring our
purchasing power is to revive our
foreign commerce. Expanding our
markets rather than curtailing our
production, will start the standard of
living moving upward again. can,
not believe that civilization would
have reached the present advanced
state ii isolation had been practised