The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1940-02-26
Reciprocal Trade Pacts
Benefit Local Industry
Plan-Voices Confidence In Secretary Hull
In Promoting Trade, Preserving Peace

agreements program. It is large
ly political in appearance, and
springs, 1t sees to me, from two
sources. On the one hand is a
despair, a doubt Of our ability to
see and protect our own best in
terests in negotiation, and on the
other hand reluctance to relin-
quish q fear arousing, demogogic
campaign weapon. It Is sometimes
easier to instill fear Of disaster
to a particular industry or part of
industry by q theoretical extreme
application Of q program than to
APPROACH the question from the
standpoint Of the result Of the
program as o whole on the well
being Of industry agriculture, and
the following benefits to the COM
ponent parts Of both-to all those
who work for a livelihood in either
industry or agriculture.
Difficult Task,
Make no mistake about 1t. It is
not easy task we give our repre-
sentatives in negotiating trade
agreements. Neither is 1t an i'm
possible task. It is extremely diff
ficudt to gather al the evidince
needed to determine where the
advantage lies for our people In
each proposal by either side to an
agreement. It has been done skill
fully and well, In sharp contract
to the practice under our former
methods.
Those agreements entered into
thus far have operated to increase
trade, to increase our employment
and to improve our relations with
other nations in a time Of hatred
and strife In the world.
The old system Of tariff making
had its eliminating effect in the
early days Of the depression. The
tariff walls Of the Smoot- Hawley
bill and the tariff walls and quota
restrictions raised by other ma
lions in retaliation contributed to
the strangulation Of trade that
collapsed both industry and ag-
riculture in this country, as well
as abroad.
The restrictions and retaliations
in the economic war between ma
lions led first to barter systems
and then to the seizure Of terri
tory to obtain by force what had
been denied by the normal pro-
cesses Of trade.
A thousand Of our leading
economists protested vigorously
against the Snoot- Hawley tariff.
They foresaw the evils 1t would
bring. Practically all our leading
economists today favor reciprocal
agreements as the most effective
way to restore world trade and
safeguard American peace and
prosperity. Each Of us has seen
the loss to industry and agricul-
ture in our own districts caused
directly in some instances, in
in every instance, by the
inevitable failure Of our old sys-
tenn Of tariff making.
Benefits Evident
We have seen benefits from the
in foreign and
domestic trade during the COM
brief period Of opera
ton Of the trade agreements act.
Let us not abondon a system
we have begun, system we know
to be sound and beneficial to all
Dur people. Let us not 60 back
to a misunderstanding, depression
breeding, war provoking system
merely for the sake Of a political
slogan.
Secretary Hull and his aides
have made an outstanding con-
tribution to domestic recovery and
world relations In their
work to date under the trade
program. The passage
Of this bill will enable them to
continue the work so well begun.
BY my vote today, propose to
take my part In demonstrating
our confidence In our Secretary
Of State and appreciation for his
outstanding work for the benefit
Of commerce and industry in the
district ! represent and In the
country as whole.