Evening star., 1938-03-02

from the biggest
financial community in the nation.
recognizing at last that removal of
trade barriers does have much to do
with our domestic prosperity.
Secretary Hull" said Mr.. Aldrich,
"is not proposing to do away with all
protection, nor am I, but we have let
our protective tariff run wild and we
must moderate it. I believe that it is
economically impossible for this coun-
try to isolate itself from the rest of
the world and I assert that the su-
periority of the interests Of all the
people over those of any minority
group or groups is obvious
Can Resist Planned Economy.
To the extent that We can restore
foreign trade We can resist the present
tendency toward a planned economy
and controlled and regimented eco
nomic life. l advocate the restoration
of an adequate foreign trade to restore
the internal economic balance, to take
away the excuse for regimentation and
to protect both our economic and our
political freedom
Let me say to those who believe
In prohibitive protective tariffs and at
the same time desire international
economic freedom that they will find
1t very difficult to have both. An eX-
treme RECOMMENDATION of foreign trade
begets an extreme political demand
for regimenta ron of our internal ac-
tivities"
What Mr.. Aldrich has said is al
most Identical with the argument
made by Lewis Douglas, Democrat, in
his recent speech before the Economic
Club of New York. Mr.. Douglas was
originally part of the Roosevelt Ad-
ministration as director of the budget,
but he resigned, and one of the points
he has made to opponents of the New
Deal Is that they cannot, on the one
hand, consistently oppose domestic
regimentation and yet refuse to allow
trade barriers to be removed SO that
American internal production can be
increased and the limitation of out
put doctrines overthrown.
Lauded by Baltimore Sun.
The address Of Mr.. Aldrich has at
tracted the attention of the Baltimore
Sun, traditionally Democratic news
paper which refused to support Mr.
Roosevelt for reelection in 1896.
It's editorial says there is a touch
OF historic irony" in the circum-
stance that Mr.. Aldrich has come for
ward to champion Mr.. Hull's efforts to
lower tariff barriers when his own
father championed a protectionism
that ended with the blue sky, and
which policy had much to do with the
rise OF Progressivism in the West and
eventually with "the eclipse of the
Grand Old Party altogether" The
Sun adds:
Essentially perhaps there is no in
consistency between the policies of
father and SON. Each would serve
the needs of the country as condi-
tions appear at different times to die
tate policies. Senator Aldrich was
dominant in a period when the
United States was borrowing, ex-
panding country intent on building
up native industries
THE interesting point, now, how
ever, is that the younger Aldrich has
the intelligence and honesty to dis
card loyalty to policy which must
have a powerful tradition in his fam
lily and urge that the fiscal policies
Of the United States be geared to the
conditions which now confront the
country. But while we honor Mr. AL
drich for his realism, we feel it is
still more remarkable that so few
men of his stamp have seen the light |
If the business men, manufacture
ers. shippers and transportation inter-
ests OF the great cities were as alive
to their own good as Mr.. Aldrich is,
his voice would not be so lonely as
to make the first pages. 1t would
be but one voice in mighty chorus"
Ports Have Reason to Worry.
Quite naturally, the seaport cities
have much to be worried about with
respect to the future of American for
eign trade, and New York City, like
Baltimore, is no exception to the rule.
There are some economic observers
who think that the persons engaged
in vast real estate enterprises of met
ropoltan New York with their sky
scraper Office buildings and vast army
Of white collar" workers must sooner
or later be affected by the fall in
foreign trade or else join the move
ment for stimulating the export and
import business of the United States.
1t is quite customary for those who
argue about foreign trade to look only
at the actual figures of inflow and
outflow of articles of merchandise, but
officials here have insisted that the
by-products Of foreign trade should
not be overlooked, extending, as they
do, not only to factories far removed
from the seacoasts, but indirectly to
the prosperity of seaport cities them
selves, which, from colonial days,
have thrived on the brokerage fees
and transactions as well as other ac-
tivities growing out Of the worldwide
exchange Of goods and services.
Secretary Hull's policies have been
under fire from the extreme protec-
tionists, and there is much doubtless
tn he said in favor of different methods