Evening star., 1934-02-17
International Readjustments.
Senator Millard e. Tydings OF
MARYLAND. who hy the widest stretch

international Readjustments.
Senator MiIlard e. Tydtngs OF
Maryland, who by the widest stretch
of imagination may not be character
lied a radical, in a radio address the
other day, declared: Until opportun-
ity presents itself for international re-
adjustment, revolutionary measures
are our safeguards against revolution
itself" This assertion by an ardent
Democrat is significant. Revolution,
which is taking its toll of lives in
other nations Of the world today, Is
not the desire of the American people.
Economic pressure, however, has led
too often in the past to violent over
throw Of government. Economic pres
sure in this country has been enor-
nous during the years Of the depres-
sion. And according to Senator
Tydings, the Roosevelt administration
has met and offset this pressure by
revolutionary measures, experimental
in nature, costly, hastily enacted, in
some cases perhaps unwise and faulty,
but nevertheless measures which have
enabled America to carry on without
revolution.
The Senator from Maryland's re-
mark Is particularly significant, too,
because it declares that international
readjustments are necessary before it
will be possible to return to so-called
normal conditions of life and gov
ernment in this country as well as
abroad. The steps which the Gov
ernment has taken under the leader
ship of President Roosevelt to offset
the depression in this country have
up to the present been largely domestic
in character and effect. Although
the United States entered into the
London Economic Conference last
year, the American delegation, acting
under the instructions of the PreSi-
dent, was unwilling to take up the
question of currency stabiliZation,
and the tariff question was taboo to
a very great extent. Right there the
effort at international readjustment
begged down. Nationalisln was the
spirit and essence Of the recovery pro-
gram America turned back upon her
own resources. 1t may be that this
country can live upon itself and its
own resources. But it has in the
past always been a great exporter of
raw materials and of manufactured
goods. If foreign trade is to aban-
doned there must be a continued and
violent readjustment within the
United States itself. The situation
has been met temporarily by what
amounts in the final analysis to Gov
ernment subsidies and doles. These
are neither healthy nor can they be
prolonged indefinitely.
The time seems to have come when
the United States must tackle the
question of international readjust-
ments, particularly with reference to
foreign trade, stabilization of cur
rencies and the settlement Of inter-
national debts, the debts growing out
of the World War. Our foreign trade
cannot be revived by adopting again
the expedient Of loaning money to
foreign creditors with which to buy
our goods. Such a course would lead
only to further disaster for this coun-
try.
There are Republicans and Demo-
Gratis alike who believe that If there
are TO be lleaSurably permanent re-
vival and normal conditions once
more, the existing trade barriers, which
surround not only this but every other
nation today, must be let down. The
Roosevelt administrator up 10 the
present time has done nothing about
the tariff, for example, although
studies Of the situation have been
made. The time of Secretary Of State
Hull, who has been a foremost advo-
cate Of the removal of such barriers,
has been spent very largely on foreign
missions, first to London and more re-
Gently to South America. Now that
Mr.. Hull Is back again on the job In
Washington, and now that various
plans have been laid before the Presi-
dent for his consideration relating to
the foreign trade of this country, the
tariff and other kindred questions, the
administration may move at last to
deal with this problem.