Henderson daily dispatch., 1940-02-09
Trade Pacts Boost
Jobs, Babson Says
Continued From Pare One)

preciateo currencies, high tariffs
stiff quotas, barter methods, bis
subsidies, and similar barriers were
rapidly clearing the world trade
routes OF. the picturesque tankers
freighters, and other cargo. boats
Most able economists agreed that
the choking off of foreign com
merce was a prime cause of jobless-
ness, hunger, and suffering in all
nations.
The Importance of world trade
has never been fully re>Ized by
most people. Foreign commerce is
the Keystone Of world prosperity
and peace. Our overseas markets in
good times absorbed only 10 per-
cent OF our total output; but that
10 percent was a vital 10 percent
Half Of our cotton crop, for in
stance, was sold abroad. Think of
the Importance of cotton to U. S.
prosperity. Southern banks, land
EaluS, jobs, wages, warehouses, rail
roads, shippers, are all tied-up
with the price of cotton. And the
price of cotton depends on our for
eign markets.
Tough Assignment.
It seems impossible, however, to
get the Importance of foreign trade
across to the public. The high
tariff opposition has a far easier
Job. Inevitably, in any tariff-lower-
ing program, some localities or
some producers feel they will be
hurt. They protest violently to their
Con g sSmen. Therefore il
is almost impossible to wrangle any
real tariff reductions through Con-
greSs. Secretary Hull Ga former SEN
ator( knew that the only way to
lower tariffs and increase employ
ment as a whole would be a re-
duction program which excused
OBSERVATION-DISCLOSURES Congressman
from voting to ratify it. Hence, the
State departments trade program
came into being.
Over twenty reciprocal trade
agreements have been negotiated
since 1884. Secretary Hull and his
experts have done a painstaking,
conscientious job. They have started
to do the job which practical God
fearing people admit must be done,
"a slow and gradual, rather than
a sharp and sudden, decrease of
tariff walls. They have held hun
dreds of hearings, have listened
patiently to thousands Of protests.
For every concession they have
made to foreign nations they have
wrung from them an equally good
one for Uncle Sam Moreover, due
to the So-called most favored ma
ton rule" the pacts have lowered
tariffs, helped business, given jobs
all over the world.
Bright Spot Of New Deal
The reciprocal trade program has
been a truly bright spot Of the New
Deal. In his quiet, but firm, way
Secretary Hull has fought harder
for peace in this decade than any
other man alive. He is a tower OF
strength, vision, and unselfishness
His program has increased our ex-
ports to countries with whom we
have. completed agreements by &C
percent; while our exports to those
countries with which we have not
bargained have expanded less than
40 percent! Moreover, our imports
from treaty nations have not in
creased any faster than with non
treaty nation. This, in 4 nutshell,
tells the effectiveness Of the pro-
gram, its aid to jobs and industry
America, however, is q high-price
high-Wage, high-taX nation. Need
less to say, high tariff people do
not like Secretary Hulrs program
"Buy America" has plenty of polit-
ical "oomph", The COP. needs
campaign ammunition and they will
make the most of decrying these
trade pacts. They claim, for in
stance, that the program permits an
excessive influx of farm products
100000, worth in 1899. But
Secretary Hull points out that $780,
100000 of this was coffee, rubber
silk, cocoa, bananas, which have
always been admitted duty free!
Impregnable Position.
The State department is prepared
to defend its policies at all costs.
The Republican heavy artillery is
laying down the battles opening
barrage What the outcome will be-
no one knows. The New Deals
record is full Of broken promises
and failures. For this reason, il
seems like mighty poor strategy fol
the Republican shock troops to as
sault the one position on which the
New Deal is economically impreg-
nable-its foreign trade policy! As
a statistician, believe that the Hull
trade pacts should be backed to the
limit by every straight thinking, I'M
selfish, and honest Americanl