Evening star., 1935-11-16
Secretary Hulrs Statement.

Secretary Hull:
The United States and Canada
are neighbors with a common frontier
of 5000 miles. 1t is manifest that
innumerable opportunities for mutu-
ally profitable trade between these
friends and next door neighbors must
exist.
During 1929, the United States
was selling to Canada about $780,
O00, 900 of commodities, a substantial
proportion of which was farm prod
ucts. and was purchasing about
$500, 100000 in return. Since 1929
our exports to Canada have slumped
to about $500, 100000 or a loss of
some 100000, 0,o00. This loss has re-
suited in large measure from short
sighted tariff policies.
Notwithstanding its increase in
population, the world today is pro-
ducing and consuming substantially
less than it did in 1929 and prior years.
This trade agreement will make pos
sible the profitable sale of much Of
our surplus production, as it will also
result in the Unemployment Of large
number Of American wage earners
now idle.
THE peoples Of our two countries
have common interests and common
aspirations. socially. morally and ma
terially. The progress of each depends
more and more upon the progress Of
the other.
"The problems Of commerce and
peace facing all nations today are
acute. While many other parts of the
world are devoting their primary ef-
forts either to war or to the feverish
building of vast armaments, with con-
sequent neglect of the dislocated and
collapsed business conditions, with re-
sultant unemployment and widespread
distress, it is for the Western Hemis-
phere to point the way to more far
seeing, constructive basis for pros
perity and for peace.
1.-THE trade agreement between our
two countries will, I hope, mark the
beginning of a new epoch in the affairs
of our respective people. 1t will mean
the common advancement Of their
economic and their cultural life.
Underlying this agreement are the
twin policies of the good neighbor and
mutually profitable trade.
while many other parts Of the
world are slipping in the direction Of
economic suicide, the trade agreement
between our two countries marks an
outstanding step in the direction Of
economic sanity. It seeks to stimulate
sound and healthy trade relationships
and thereby to restore employment to
the unemployed and q wholesome
prosperity to the peoples Of both coun-
tries. 1t sets an example of what
must be done to establish solid
foundation upon which to rebuild q
suitable structure of world peace"
Prime Minister'S Statement.
Prime Minister King:
"Mr. President; Mr.. Secretary; Gen.
tlemen:
THE kindly words and sentiments
to which you, Mr.. President, have just
given expression, will be warmly well
coined by his majesty the King in
whose name I have had the honor to
sign the trade treaty which has just
been concluded between the United
States and Canada.
"They will, know, be deeply ap-
preciated by the people Of Canada.
May I say, Mr.. Secretary, that I
very cordially indorse all that you
have said of the mutual advantages
likely to flow to our respective coun-
tries from the terms of the treaty.
"On behalf of Canada, heartily
reciprocate the sentiments of inter-
national good will you have so gen.
erously expressed.
II believe with you that the sigma
ture of this agreement is witness OF
the Joint intention of the governments
of the United States and Canada to
give rapid effect to our policies In q
practical manner. At last our formal
trade relations have been brought into
harmony with the underlying realities
of public and private friendship De-
tween our two peoples.
"The agreement will, am confident
confer substantial benefits alike on the
producers and consumers OF both
countries, while safeguarding with
! great care eSsky essential interest,".