Evening star., 1934-02-04
Foreign Commerce.

Expansion Of Americas foreign
commerce is occupying the attention
of the administration, while the
President studies his proposed mes
sage to Congress dealing with the
tariff. If the monetary policy Of the
Government is effective and brings
about greater advantage to American
export and import trade because of
new condition of foreign exchange.
there should be an increase in Amer
lean exports. The administration is
giving thought to various proposals
to encourage still further the foreign
commerce of the Nation. Among
them are reciprocal trade and tariff
agreements with other nations which
have all the effect Of treaties al
though they are not ratified by the
Senate. They will be negotiated and
made effective by the President. pro-
vided this special authority can be
obtained by the administration from
the Congress Still another step In
contemplation is the organization of
a banking corporation in the District
of Columbia with $100,0o0,00O at its
disposal to aid In financing trade
with Russia and with certain other
nations And . third proposal looks
to a Government-owned trading cor.
poration to supervise foreign exports
and imports.
The reports Of the Department Of
Commerce show that already there
has been very considerable upturn
in the foreign commerce of this
country from the small volume and
low figures that prevailed in the
early part of 1893. There is still,
however, long distance to 60 before
American foreign trade can approx
mate the commerce of . few years
ago. It Is scarcely . matter Of
wonder, therefore, that the admins
tration should be intent upon work
ing out plans to stimulate and foster
foreign trade
The administration may have seri-
GUS difficulty reconciling its plans for
foreign trade development with the
operations of the A. A. A. and the
N. R. A., which are strongly nation
alistic in character and which would
prevent any very material influx Of
foreign goods into this country. Yet
it seems perfectly clear that this
country can scarcely expect to sell
on large scale abroad II 1t Is not to
purchase the goods of other countries
on large scale. The two schools Of
thought in the administration, one
Of which looks to the preservation Of
the domestic American market to
American producers and labor and
the other to the breaking down Of
international trade barriers, are diff
cult to harmonic. That Is the task
which the President must accomplish
if there is to be uniform and CO.
operative movement toward more
international trade.
Prior to the election Of President
Roosevelt the Democratic onslaught
on the Republican Smoot- Hawley
tariff act was intense. Nothing that
the Democrats could say about that
act was bad enough. Although the
Democrats have been in control Of
the legislative and the executive
branches of the Government for al
most a full year, up to the present not
single move has been made to
change this tariff law.
The country is awaiting the Presi-
dents message on the tariff with the
keenest interest. The subject Of in
ternational trade and the tariff has
been investigated minutely by several
agencies. One thing seems assured
there will be no recommendation for
the immediate revision Of the tariff
act and all its schedules by Congress.
If the administration has its way,
whatever changes are to be effected
will be made by the President under
authority conferred by the Congress.
However, there is plenty of opposition
in the Congress, from Democratic as
well as Republican sources, to such q
grant Of power to the Chief Execu-