The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1949-11-02
U. 5. PAYS FoR EXPORTS TRADE

see its own exports dwindle 'sto mere
trickle,' then it must buy at least two bill
lion dollars more annually from Europe,
according to the report Of special in
vestigating mission to Marshal Plan
countries.
The report was made public BY the
Economic Cooperation Administration,
which denounced this country's .anti-
Quated and, in some cases, inequitable
customs procedures and prohibitoryv
tariff rates These are Inconsistent. the
reports says, with our position as the only
big creditor nation in the world
The report listed 900 products that
Europe is particularly equipped to man
ufacture but on which the United States
exacts duties of twenty-five per cent or
more. Obviously, such a high duty, plus
the cost Of shipping goods into this coun-
try, makes it almost prohibitive and pre-
vents the sale Of the products in the Unit
ed States
The report. prepared by Wayne G.
Taylor, head of the investigating mission
which spent ten weeks in Europe. pointed
out, very clearly, that the traditional excess
of American exports over imports had been
financed for the most part by the United
States government and its nationals. The.
so-called Favorable balance which
amounted to S101, 900, 100000 between
1914 and 1949, was offset in large part by
government loans and grants totalling
SOS, OO0, 900. 900. OF this amount. only $14.-
OO0, 600, 900 was designated loans"
The remainder Of the excess was off
set by $1O.500. 100000 Of private remit
-tances or donations made in the normal
way, about $500. 0OO, 900 Of long and
short terra private capital investments
abroad by Americans and some $15,500,-
0OO. 900 either sent to this country as gold
or in the form Of liquidated foreign dol
lar assets here.
Referring particularly to the $4,000
600. 900 advanced by the Government, the
report points out that this sum came out
of taxes or from increases in the national
debt AS to the $4,000, 100000, advanc-
ed as loans, a substantial portion was de-
faulted long ago and can hardlxabe re-
garded as an asset.
The report leads us to the conclusion
that the United States, in its anxiety to.
maintain a favorable balance of exports,
has been willing to give enough money to
foreign countries to enable them to buy
our products Instead of accepting swap
of goods, we have maintained high tariff
to prevent the profitable sale of foreign
goods in the United States
Not only have we given a staggering
amount Of money to other countries, in
grants and loans, but, through the oper-
alton of the tariff, we have given a sub
sidy of uncertain magnitude to manufac-
turers in this country. This has made the
price of manufactured products higher to
consumers, particularly our farmers.
We do not hesitate to say that the time
has come for the United States to under
stand that international trade is not one
way street When we sell goods abroad, we
must be willing to buy something in return.
This means, in simple language, that we
nlustfswap goods with our neighbors, This
Is much better than sending our neighbors
our material resources without getting
anything substantial in return except 1.-The
pleasure of giving them money or extend
ing them credit.