The midland journal. (Rising Sun, Md.) 1885-1947, 1934-09-21

A" OLneT uuy LHdt lHeIc
Negotiations was one thing about
the new deal which
made him feel at home. His visit was
In connection with some of the State
department negotiations for new tariff
treaties with foreign countries. He
spent several days In those discus
sions, and the nature of the CONVEX
sations was such, he observed later,
that he felt conservative tinge re-
NAMED in the new deal.
Cordell Hull, secretary Of state, and
perhaps one of the most thorough stu
dents Of tariff questions, recently de-
scribed the tariff bargaining negotia-
lions as stepping backward" to what
he considers as sound basis for solu-
ton Of tariff problems. Mr.. Hull
always has favored low tariff rates,
but from all Of the information COM
ing out of the tariff negotiations, 1t is
made to appear that the secretary Of
state Is willing to see some high tariff
rates established where those rates do
not engender retaliatory action on the
part Of foreign governments with the
result that high tariff wall sur
rounds the several nations.
The observation of the middle-west-
erner, therefore, must be accepted as
some reinsurance. II Is undoubtedly
true that there are many manufactur-
ing interests In this country who are
figuratively scared to death over the
prospects Of the administrators tariff
treaty program. Nevertheless. there
are factors influencing the results Of
the various negotiations which, many
observers believe, will react to the
benefit of American industries long
used to high tariff protection.
This does not mean that the new
rates worked out by the negotiators
are going to be comparable in any
way to the Fordney-McCu mber or the
Hawley-Smoot rates. am informed
also that 1t does not mean the new
rates applying between individual coun-
tries that are now parties to the new
treaties will be comparable to the low
rates Of the Underwood tariff bill. In
other words, while / am not making
the statement that the new rates will
be applied scientifically, feel that the
opportunity is available for establish
ment Of sound as well as scientific
tariff charges.
The progress Of the negotiations has
been accompanied by the usual amount
of alarm that always
AT0uSeS occurs when states
Usual Alarm men are tinkering
with the tariff. Ihear
talk, however, purely from a political
standpoint, that the administration
would not dare to frighten business
generally just in advance of an cleo
tion. There have been too many de-
mands for reassuring statements from
the administration, something onwhich
business would feel free to proceed, to
such a chance at this time.
1t is to be recalled in this connec-
ton that the Treasury has been smil-
ing on prospective bond buyers by
making guarded statements that there
will be no early inflationary steps. In
addition, the National Recovery Adj
ministration virtually has abandoned
its "crack down" policy and the Agri-
cultural Adjustment Administration
has said in several languages lately
that crop restriction will not be as
rigid next year. It would seem, there
fore, that the whole movement is just
a little bit to the conservative side,
but, as has been suggested, this may
be due to the forthcoming election.
Whether that is correct only time will
tell.
Beyond the superficial election appeal
of assurance on tariff questions, how
ever, there certainly is a feeling in
Washington that Mr.. Hull can travel a
long way in working out the tariff
problems If he is permitted to do so.
It is to be remembered always that a
thousand and one influences are
brought to bear any time an admins
tration seeks to revise the tariff. 1t
does appear, though, that the various
committees working under Mr.. Hulps
direction are examining each case on
its merits. OF course the conclusions
they reach will not satisfy everybody ;
no tariff rates can perform that func-
ton, and there will be much wailing
and gnashing of teeth before it is all
over; but if there is anything in pros
poets, the current prospects seem to
hold forth more hope for reasonable
adjustment of tariff questions than
have appeared on the horizon for some
time
Mr.. Hull has been discreetly vague
in enunciating his policies and has not
given business generally definite idea
what measuring rod he is using. 1t is
assumed in many quarters that he will
employ something of the same policy
used in his announcements in the
world economic conference in Monte
video last fall. In these pronounce
ments Mr.. Hull suggested that tariff