The Waterbury Democrat., 1938-11-18

1tAAO NO0Ge .
 But the administration stood pat on it's Yankee Trading" program. Secretary of State Hull was the re- cipient today of all around con- gratulations upon realization of his ambition to make an Anglo Amer ican trade treaty the capStone of 8 world reciprocity program.
 Germany Left Alone
 Germany was left alone as the major nation. entirely outside the circle of those sharing in some de- gree in reciprocity programs.
 Approximately $703, 900 900 in an- nual trade between the United States and Canada and Great Bri- tain was directly affected by the treaties signed yesterday in the White House east room, Culninat- ing months of laborious negotiations which had to deal with thousands of tariff rates and schedules.
 The signatures of President Roo6e- welt, Hull, Sir Ronald Lindsay, the British Ambassador, Prime Minister Mackenzie king of Canada, and Ar- mold Overton, second secretary oi the British board of trade, convert ed the negotiations into documents calculated to have 8 tremendous bearing on world trade and inter- national politics.
 Treaties Effective January l
 The treaties are effective January l and continue for three years after which they may continue indefin- itely or be denounced by either party on six months notice. An "eS- cape clause" would permit quick rec examination of the treaty structures in light of excessive fluctuation of one party currency in relation to the other. The entire agreement could then be terminated after 30 days if the currency issues were not quickly adjusted.
 That clause would avoid what some financiers feared. That de- pression of the British Pound Ster- ling would enable Great Britain to flood American markets with cheap ly priced merchandise further fav- ored by treaty tariff concessions.
 Both parties to the Anglo Amer ican treaty reserved the right to control all traffic in arms, ammuni- ton and implements of war and, in exceptional circumstances, all other military supplies. There seemed to be some correlation of schedules with defense needs of all three na- tions SO that vital materials would be as freely exchanged as circum- stances would permit.
 Side Agreement
 Notably, the Anglo-American treaty was accompanied by side agreement giving tentative assur- ances that each would have constant access to raw materials controlled by the other. Outstanding in that category was rubber of which the United States is the greatest con- Sumer while producing none. The British government undertook to consult with parties to the interna- tional rubber agreement regarding the possibility of amending the agreement to permit exportation of 40b0OA kAcbA4VAAAe AAASSVSAAeS3 " SSs>~@ tries not party to it.
 World trade of Canada, Great Bri- tain and the United States amounts to approximately 30 per cent of the total international trade of the world, and is valued at over $l5,- 900 ,0O0,0 900. The total value of the trade among the three nations themselves was valued in 1887 at something over q, 300, ,O00, 900.
 Not all this was affected directly by the treaties, but officials of all governments concerned believed that the linking of such economically and commercially powerful nations must have an important influence on the developing struggle among democra- tic states and totalitarian powers.
 Secretary Hull Gives View
 Hull voiced this view at the con- clusion of the ceremonies of the treaty signing, when he said:
 "These agreements furnish con- crete and powerful support for 6 future trend of world developments along the lines of increasing under standing and cooperation among na- tions; of peace built upon order url- der law; of expanding international trade based upon fair dealing. upon equality of commercial treatment and upon stability of those business conditions which are necessary i private enterprise is to furnish ant thus to enhance the economic pros. perity of each nation.
 Through the conclusion of these agreements, our three nations have given a new vitality to the basit principles of civilized world order the acceptance and application oi which are indispensable to economic well-being and social security with in nations, to peaceful relations be- tween nations, and, therefore, tt the continued advanlcement ant progress of mankind"
 Expect Trade Increases Anticipating proportionate in- crease in British-American trade and continuing growth of Can. adian- American trade, officials be- lieved the two treaties would draw tighter the economic lines within which the totalitarian states must operate. The treaties greatly re- duced the world area within which they might conduct their bilateral or exactly balanced, export-import economies.
 Altogether, the British govern ment granted some 225 tariff and trade concessions, of which 105 were undertakings to bind rates at the present level. The United States granted ATS, of which 135 bound present rates.
 The Canadian government grant, ed 46O concessions = 140 binding present rates; the United States 250 concessions, of which 65 bound present rates. Many of the conces- sions in the Canadian American