The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1940-02-15

tom in some quarters to sneer at peo-
pie who are honestly patriotic in their
actions in the interest and welfare Of
the nation.
| am not appearing here today as
an isolatlonist; nor as an extreme ma
tionalist. Washington was the great
est nationalist this country has ever
known. The MADE IN AMERICA
CLUB is not an isolationist organiza-
tion--neither are the members of our
organization isolationists | really
do not think we have any such citizens
in our country today. "Isolationist"
is merely term concocted by inter-
nationalists who desire to embarrass
those who are truly American.
If American agriculture is to sur
vive; if American business is to sur
vive; if the present standard of wages
in America is to be maintained; and
finally if our unemployment problem
is to be solved then the leaders of in
dustry and this government must stop
thinking in terms half-internation-
al and half-American.
A moment ago | said - and it is
worth repeating that we are the
worlds greatest consumer Of various
things which we do not produce or
make ourselves, such as coffee, tea,
rubber, spices, bananas, etc. However,
the ten million unemployed citizens
and their twenty million dependents
do not enjoy a fresh cup Of coffee
with all their meals. They are not
eating any bananas on their cereals
for breakfast; and they are not buy
ing any extra pairs of silk stockings
nor are they buying any new tires for
their automobiles because their cars
are on the Used Car Market.
Even in our impoverished condition,
and with all of our unemployment, the
American market has for years been
the greatest market in the world. This
great market attracts all other ma
tions, who desire to dump their prod
ucts on our shores, like a magnet.
For years every nation in the world
has been striving to improve the we'll
being of it's people. The facts which
| am going to present to you are not
my own. They were published by the
League of Nations. | call it world
economic ladder, based on the COM
parison of real wages paid in the va
rious important countries of the world.
In this economic ladder, tn League of
Nations places the United States at
the very top, on the ceiling as it were.
However, this figure Of 100 which the
League of Nations has given the
United States means something more
than wages paid. 1t is also compos-
ite picture Of the standard of living
of our country-the number of auto
mobiles per capita, the number Of
telephones, the number Of radios, the
number of electric refrigerators, and
all the other physical things used for
the comfort of the American people.
AS you go down the rungs Of this
ladder to the other countries repre-
sented, you are also stepping down to
a lower strata of happiness of the
peoples of the world, their comforts,
habits of life, wages paid, etc.
Canada is on the next rung of the
ladder with figure of S1.57, which
Of course means that for every dollar
we pay in wages in America for en-
ployment in diversified industries, Ca
NADIA would pay approximately 81 p o..
We go down another rung on the
ladder and we come to England, and
the figure of 52.63; but right here
wish to impress upon this Committee
that the figure of 52.63 is based on an
English pound, with an exchange value
of $4.S6 in American money at the
time this chart was made. Today the
English pound has come down to
$3.96-a twenty percent depreciation.
| shall later on refer to Article Is
of the Trade Agreement between the
United States and the United Kingdom
because of it's particular reference to
the subject of the rate of exchange
between the currencies Of these two
countries; but for the time being let
us again get back to the economic
ladder.
Let us now drop to the bottom rug
of the ladder-a position held by
Japan; and also again please bear in
mind that this position of 1910 was
given to Japan. when the yen was
value at 29c, according to the inter-
national exchange rate. Today the
Japanese yen is valued at 22c.
Let us assume that we are fisher
men, and instead of an economic lad
der we have before US a copy of the
map of the United States, showing
fishing streams in the Adirondacks, in
Maine and in various other parts of
our country. The figures on the eco
nomic ladder now refer to the respec-
tive merits Of these fishing streams.
If you were a good fisherman of
course you would go with me to the
spot where we would be assured of
good mess of the speckled beauties,
which naturally would be marked 100.
1t is dollars to doughnuts that very
few of us who profess to be good fish
ermen would select spots marked
1910, or any other spot under 100. We
would want the best.
Far be it from me to belittle the i'm
portance Of our foreign trade, but do