Evening star., 1938-08-02

riers in international trade. We seek
effective equality Of commercial op-
portunity and we urge upon all ma
tions application Of the principle OF
equality OF treatment. We believe IN
Limitation and reduction Of arma-
ment.
Realizing the necessity for main
tanning armed forces adequate for ma
tional security, We are prepared to
reduce or to increase our own armed
forces in proportion to reductions or
increases made by other countries.
We avoid entering into alliances or
entangling commitments, but we be-
lieve in cooperative effort by peace
full and practicable means in support
Of the principles hereinbefore stated"
50 Nations Support View.
The administration Is endeavoring
to keep alive, strengthen and revital-
lie these principles and canons OF pro-
cedure, in reference to all interna-
tional relations: and it found very
gratifying the fact that, in response
to Mr.. Hull's statement Of q year ago.
more than so governments went on
record in terms of Endorsement.
Both the President and the Secre-
tary of State are, rs all the world
knows. profoundly convinced Of the
fundamental need for economic re-
adjustments toward the creation and
maintenance OF . sound foundation
for sustained national and interna-
tional well-being and the correcting
of . multitude Of political and social
Ills. The Secretary Of State Is one
Of the worlds greatest authorities on
international trade and subjects re-
lating thereto. Very naturally. then,
in the field of foreign policy. the ad-
ministration embarked at an early
date upon q course of action designed
to make possible . recovery and ex-
pansion Of foreign trade and to pro-
mote the cause Of peaceful and
friendly relations among the nations
Of the world. On June IL. 1884, the
Congress passed the Trade Agreements
Act. This act conferred upon the
President for . period of three years
authority to enter into agreements
with foreign countries involving recip-
rocal reductions of excessive trade bar
riers. On March /, 1887, the Congress
renewed this authority for another
three-year period.
Since the passage of this act in
1894. trade agreements have been con-
cluded-by the Department Of State
and with the active assistance Of va
rious other agencies of the Govern
ment-with II countries. and negotia-
tions for such agreements are in
progress with five other countries.
In the trade agreements thus far
concluded, the foreign governments
concerned have reduced duties. in
creased quotas, or agreed to bind the
existing duties or free entry on many
hundreds Of commodities which enter
into our export trade. In addition.
through operation Of the principle Of
unconditional most favored nation
treatment, these agreements have CIV
en- assurance Of n-discriminatory
treatment for American trade.
Trade In Larger Volumes.
There are definite indications that
the trade agreements program is pro-
noting mutually beneficial trade be-
tween the United States and the other
contracting countries. and that in re-
sponse to the reductions in burden
some trade barriers and the removal
| of discrimination such trade Is be-
ginning to move in larger volume.
The countries with which trade
agreements have been concluded. and
those with which negotiations for such
agreements are under way, accounted
for about 81 per cent Of what were
our exports in 1929 and about 56 per
cent of what were our imports in that
year.
In 1929 our exports totaled nearly
$5,250, 900, 900. In 1892 they had
fallen to a little over $l,500, ,000, 900.
BY 1887, partly as result Of the
operation of the trade agreements.
they had recovered to = figure Of over
| $3.50 .000, 900.
During 1885 our exports exceeded
those of 1894 by s150,000, 900; during
1896 they exceeded those of 1885 by
$l70, ,000, 900; and during 1887 they
exceeded those of 1896 by $889. .000. .000
Only q part of these increases may.
OF course, be credited to the trade
agreements. and with 10 many varia-
bles in the economic situation here
and abroad affecting the movement
of trade, it would be difncult to esti-
mate how great that part is. An fndi-
cation, however. of the effect Of the
trade agreements may be seen in
comparison Of the trade which has
developed with the countries with
which agreements have been made
and the trade with those with which
agreements have not yet been con-
cluded. For instance. our exports to
the IA countries with which agree
ments were In force during all or .
part of 1896 were II per cent greater
in 1896 than in 1885. That increase
compares with . corresponding In.
crease of but 4 per cent in our exports
to countries with which We had not
concluded agreements. In 1897, with
16 agreements in effect during all or
part of the year. exports to The trade
agreement countries were so per cent
greater than in 1885, as contrasted
with an increase Of but 80 per cent in
exports to all other countries.
Preference for U. 3. Stronger.
Moreover. not only have our exports
to the trade agreement countries as a
group gained relatively more than have
our exports to non-agreement coun-
tries, but imports Of American prod
ucts into the agreement countries
have In general increased more than
have the imports into those countries
Of products from third countries. In
other words, the relative position Of
the United States in the markets Of
the agreement countries has unques-
tionably improved.
During the first six months Of 1898.
while our import trade declined by
- per cent our exports increased By
=