Evening star. [volume] (Washington, D.C.) 1854-1972, 1955-04-25


all nations may see in it an OPP
portunity to benefit themselves.
Certainly. it must proclaim the
right of all men to strive for their
own betterment-and it must
foster their exercise of that right.
In things material, the friendly
partnership must be sinewed by
expanding economies within all
its member nations. mutually
benefiting by a growing trade
volume, joined in recognition
that their security inter-depend-
ence is paralleled by their eco
nomic inter- dependence.
BY sound economic thinking
and action, we Americans can
hasten the achievement of both
our great goals-peace among
the nations; a widely shared
pl osperity at home.
We have an unmatched pro-
duction system. But even our
economy will not thrive if con-
fined to our own land. So to sus-
tain our own prosperity and eco
nomic growth we must strengthen
the economic bonds between us
and others of the free world.
Thus we confront the Commu-
nists with a vast and voluntary
partnership of vigorous, expand
ing national economies whose
aggregate power and produc-
tivity, always increasing, can
never be successfully challenged
by the Communist world.
Issue Clean-Cut
The issue is clean-cut. Either
we foster f1ourishing trade be-
tween the free nations of we
weaken the free world and our
own economy. Unless trade
links them together, our foreign
policy will be encased in q sterile
vacuum; our domestic economy
will shrink within it's con-
tinental fences. The enlarge
ment of mutually beneficial trade
in the free world is an objective
to which 1 am fully dedicated.
Ours is the most dynamic econ
omy yet devised by man, a prog
ress-sharing economy whose ad-
vance benefits every man, woman
and child living within it.
Last year, our gross national
product exceeded 1857 billion.
Twenty years ago few would have
believed. such an achievement
even a remote possibility.
Nevertheless, continuation of
current rates of increase will
bring us by 1865 to $500 billion
or more as our gross national
product. This will mean a ire
mendous advance in the living
standards of the American
people.
But a $500 billion economy
by 1865 can only be achieved
within the framework of
healthy and expanding free
world economy.
Trade Expands Markets
Trade expands markets for the
increased output of our mines,
our farms and our factories. In
return we obtain essential raw
materials and needed products
of the farms and factories of
others. Likewise, the markets
provided here for the products
of other free world countries
enable them to acquire the capt.
tai equipment and consumer
goods essential to their economic
development and higher living
standards.
American agriculture sells
abroad from one-fourth to one
third of major crops such as
wheat, cotton and tobacco.
Without these export markets
there can be, under current con-
ditions, no enduring prosperity
for the American farmer.
American factories and labor
likewise have an important stake
in foreign trade. Last year this
country sold over SO billion of
industrial products abroad. Over
3 million workers are directly de-
pendent on exports for their
Jobs. Jungles the world round
are being tanned today by Ameri-
can bulldozers; new mines are
being opened by our drills and
equipment; fields that have been
cultivated by hand for centuries
are yielding new harvests to our
agricultural machines; our auto
mobiles, trucks and buses are
found wherever there are
roads. and new industries to en-
ploy the teeming millions within
the underdeveloped nations are
being equipped with our machine
tools.
Orderly Action Required
The expansion of our foreign
trade should proceed in an or
derly fashion. Reductions in
tariffs and other trade barriers,
both here and abroad, must be
gradual, selective and reciprocal.
Changes which would result in
the threat Of serious injury to
industry or genera reduction in
employment would not strength
en- the economy Of this country
or the free world. The trade
measures that I have recon-
mendad TO the Congress were