The Waterbury Democrat., 1934-03-02

full and prominent dOmestlc re- covery depends in part upon Q revived and strengthened inter- national trade and the American exports can not be permanently increased without correspond ing increase in imports.
 Second, other governments are to an ever increasing extent win ming their share of international trade by negotiated reciprocal trade agreements. If American agricultural and indusEial inter- terests are to retain their de- served place in this trade, the American government must be in a position to bargain for that place with other governments by rapid and decisive negotiation based upon 8 carefully consid- cred program, and to grant with discernment corresponding op- portunities in the American mar ket for foreign products SUD- pIementary to our own.
 If the American government is not in a position to make fair offers for fair opportunities, it's trade will be superseded. If it IS not in a position at a given mo- ment rapidly to alter the terms on which it is willing to deal with other countries it can not adequately protect it's trade against discrimination and against bargains injurious to it's interests. Furthermore, a prom ise to which prompt effect can not be given is not an induce ment which can pass current at par in commercial negotiations.
 For this reason, any smaller degree of authority in the hands of the executive would be inef- fective. The executive branches of virtually all other important trading countries already possess some such power.
 I would emphasize that quick results are not to be expected. The successful building up of trade without injury to Ameri- can producers depends upon a cautious and gradual evolution of plans.
 The disposition of other coun- tries to grant an improved place to American porducts should be carefully sounded and consider ed. Upon the attitude of each must somewhat depend our fu- ture course of action.
 With countries which are un- willing to abandon purely re- strictive national programs. or to make concessions towards the reesta ishhnent of international trade, no headway will be possi- ble.
 The exercise of the authority which propose must be careful ly weighed in the light of the latest information so as to give assurance that no sound and inn portant American interest will be injuriously disturbed. The ad- justment of our foreign trade re- lations must rest on the promise of undertaking to benefit and not to injure such interests. In a time of difficulty and unemploy- ment such as this, the highest consideration of the position of the different branches of Ameri- can production is required.
 From the policy of reciprocal negotiation which Is in prospect, I hope in time that definite gains will result to American agricul-, ture and industry.
 Important branches of our agriculture, such as cotton, to- bacco, hog products, rice, cereal and fruit-raising, and those branches of American industry whose mass production methods have led the world, will find ex- banded opportunities and pro- ductive capacity in foreign mar kets, and will thereby be spared in part, at least, the heart break ing establishments that must be necessary if the. shrinkage of American foreign commerce re- mains permanent.
 A resumption of international trade cannot but improve the general situation of other coun- tries.. and. thus increase their purchasing power. Let us well remember that this in turn spells increased opportunity for Amer ican sales.
 Legislation such as this is an essential step in the program of national economic recovery which the congress has elabor- ated during the past year. It is part of an emergency program necessitated by the economic crisis through which we are pass ing. It should provide that the z trade agreements shall be term- inable within period not to ex. ceed three years; a shorter per- Tod probably would not suffice for putting the program into effect. In it's execution, the executive must. of course, pay due heed to the requirements of other branches of our recovery pro- gram. such as the national in- dustrial recovery act.
 I hope for early action. The many immediate situations in the field of international trade that today await our attention can thus be met effectively and with the least possible delay.
 FRANKLIN D. ROOSEVELT.