OCR Text |
Show I , Our Exports and Prosperity 1 An excellent, common-sense view of the relationship of ; export trade to the current business depression is to be found ' in remarks made recently to the Cleveland Chamber of Commerce Com-merce by John McHugh, chairman of the executive commit-; commit-; tfu of the Chase National Bank of New York, the world's largest bank. I Alter remarking that the foreign customer cannot pos- 1 sibly buy from us unless he can somehow get the necessary j dollars, Mr. Mcliugh pointed out: "We intensified his difficulty in this matter by raising our tariff in 1930. The time has surely come to forget whether we are Democrats or Republicans and think of this i matter in business terms. This is no time to advocate free ; , .trade nor to advocate the sweeping away of the whole protective pro-tective tariff system to, which wo have so long been accustomed. accus-tomed. But it is time to consider downward adjustments designed de-signed to permit the foreigner to sell enough goods in our market to put him in possession of dollars that in turn will enable him to tarrj- out the voiume of exports which is necessary neces-sary 1 d keep a balanced situation in the United States." The remark is commended to all who would like to see . jood times return. |