Show FOREIGN TRADE ADVOCATED TO AID RECOVERY en by hi Associated Press COLORADO SPRINGS Colo Cob Sept 21 Declaring 21 Declaring 21 America had only scratched the surface of the possibilities ties for lor trade expansion James A A. Farrell former head of the U. U US U.S. S. S Steel corporation predicted the nations nation's foreign trade would reach new high levels in the future in an address prepared for delivery ry today to the economic conference ce Ii s session here hero D Discussing the promotion of foreign loreign for lor- eign elga trad trade he reviewed the recovery program of the administration and asserted that increased volume of ofis business Is the way out of the depression depression depres depres- sion and nd said the success of the recovery plan depends in no small degree on the contribution made by our foreign trade I EXPORT INCREASE The steel magnates magnate's address was the highlight of today's session of the conference nce which is being held concurrently concurrently concurrently con con- currently with the of officers and directors of the United States chamber of commerce commerce Farrell said that the theory put forward that an n increase se in the nations nation's nations nation's na tion's i export tr trade de can be effected in imports through a lowering low low- ering of tariffs by a 10 per c cent nt horizontal hori lion reduction is is based apparently on the mistaken ass assumption n that there is a direct cUred connection between our tariff and the decline in imports imports' inthe Inthe in inthe the last four four years He said th the history of Americas America's imp Import rt trade shows that the rise and fall of imports do does doCs riot not correS correspond with tariff changes but with variations variations varia vat in trade prosperity GROWTH OF TRADE Growth Gro of Americas America's cx export rt trade under a protective tariff system is abundant said why he should refuse to substitute for it the disturbing of a radi a-radi- radical radi radl cal change The recovery of our export export export ex ex- ex- ex port trade so essential to full development development development devel devel- of our economic system does docs not call for a drastic lowering of pur pun tariff In my judgment our bur our export trade Is destined to go forward to higher levels In the future We may rhay have only scratched the surface of the worlds world's possibilities UlIes in trade trade- ex ex- Organization of Business was the subject of an address prepared for delivery a at the luncheon meeting of the conference t today day by Fr Frederick derick J J. J Koster of San Fr Francisco president of the California i Barrel company |