Detroit evening times. (Detroit, Mich) 1921-1958, 1943-05-04
u. S. Business
Reverses It's
Trade Policy
Aim Now Is for Imports
TO Equal Exports 4
By PAUL MALLON

w q paltry paragraph OF TWO
heralded the news that business
had changed its policy and now
favors the Hull reciprocal trade
program.
At least that portion Of bust
ness as represented by the Ma
tional Association of Manufac-
turers and the United States
Chamber of Commerce, made
such an announcement through
representatives appearing before
the House ways and means COM
mittee.
The public appearance OF the
NAM was made after its board
privately agreed 10 reverse its
policy of three years ago with
very little dissent of members.
The business experts did not
say so, but apparently they fig
ured world trade must be diff
ferent after the war. Our manu-
featuring production capacity
has been greatly expanded by
the ornaments program.
TIIE machines now used for
Il weapons can be changed
back 10 peacetime products
much easier than they were
changed 10 war. Replacement of
one or two parts and tools are
all that will be necessary in
many instances, they say. and a
better machine tool industry
exists 10 do the job.
This extra production will
have 10 be sold either in a
greatly expan d American
market (more people able 10
have radios, bathtubs, refrig- -.
orators. etc. or in larger ferr !
eign market.
The world will have little
gold or goods with which 10 buy
our suplus manufacturing pro-
duction.
40 long as we export more
than we import. We Will natu-
rally accumulate world debt
which is of doubtful value We
already have too much of that.
IF WE establish the Keynes or
Il white systems Of Internal
| tional payment we will merely
s accumulate all the new interna-
tional currency. "unitas' or
"bancor," which. apparently, is
10 have only the value which our
government UNDERWRITERS for IT,
In times Of ternationa
bankruptcy - and postwar con-
dtions will approximate that
the only way for US 10 get paid
for our products is by importa-
ton of goods.
This line Of reasoning has
brought the business people here
around 10 the idea that so per
cent reductions OF our tariffs. as
provided in the Hull program.
may help our selling. The old
fear of cheap foreign labor and
foreign underselling appears TO
have diminished.
And, inasmuch as labor has
Joined in approval through
AFL's Bill Green, il looks like
Mr.. Hull has gathered unex-
pected support.
NEBRASKA'S new Republican
~ Senator Wherry was just
a bout right when he said at
Pittsburgh that Mr.. Roosevelt is
already nom mated for the
fourth term. He is nominated
as far as common Interpretation
in Washington is concerned
The generally accepted BELLE !,
In all political camps here is thS
the war probably will be on at
that time and denomination will
be arrange as matter of
course.
just now, the government Off
r. Gals like Owls Elmer Davis are
saying that the fourth term talk
is hot air." while party wheel
horses. like Senator Guffey and
. Gov. Medley are out making
spec ches presenting the fourth
term notion as natural and in
evitable."
The pattern OF the fourth
term campaign is, therefore,
little different than the third.
except in one particular. The
exigencies Of war seem 10 have
led Mr.. Roosevelt's personal Of
ficials Gckes, ct all, to refrain
from participating openly in
what the wheelhorses walker,
ct alb. are openly promoting.
INTERIOR SECRETARY
4 ICKES has decided not 10
make too much of monument
out of the Jackson Hole country,
even with his presidential de-
cree.
He has announced grazing can
be continued and those who
have homes in the region may
keep them for life-under the
benevolent philanthropy of the
new federal landlord.
But this does not settle all
the basic principles OF difficult
ties of the federal seizure by
presidential order.
The county government will
lose close to $4,000 a year in
taxes as a result of the Presi-
dents action.
approximately 200 men have
gone from that region 10 fight
the war for their homes, only 10
find now that these homes are
/ 10 he available ONLY for life HI, i