| Show Pre Prevailing V Comment ai I i n of 9 the American 0 Opinions pin Press i dA I Economic Disarmament The The United States and the world will benefit when more people come to regard trade as it has been considered by the tho Conference Conference Con Con- feren ference ce of ot Seaport Cities that has bee been n meeting in New NewY NewYork York rk Members Members Mem Mem- em bers of this conference composed composed com corn posed chiefly of or businessmen and officials officials' r representing presenting the great ports look at the exchange of goods called trade neither as bUyers buyers buy bUy- ers era nor sellers but butas as neutral beneficiarIes beneficiaries ben ben- of the wealth created by such exchange The Th Ja fact t Is 15 that most of of society even though not so 50 o directly involved through awn c wn- wn of ot warehouses or or ships or piers is also the th beneficiary of ot trade Every owner property ot every worker in lri the great ports whose chief business s is Is' tr transferring ns g goods from one place or one hand to another where it will be more inore an interest in th that t pro pro- cess Less evidently but no less less' actually the whole national c community corn com m shares shares' In In Inthe the profits from fron such exchanges The American car owner gets three tires Instead of ot one by buying his rubber in Brazil Instead of ot raising alsing it in hot hot- houses The car owner in Brazil gets two cars instead d of ot o 00 e by by- buying from America instead o of trying to build buil t them eni in an artificial arti arti- rU- rU tidal Detroit of his own This fact of trade trado holds holds' for countries consid considered a as a whole But trade in in specific commodities may not benefit specific individuals individuals or sections sections' of a a. country It If there were rubber hothouses in inthe inthe inthe the United States Slates they would be injured by imports from Brazil It If there were m motorcar factories factories' in Brazil they would be injured by imports from rom America As a whole each nation would still stU gain by trading tradIng each each would have more tires and motorcars for the same cost In labor and mat materials but but special interests would lose It is these special interests which cause e economic war They it is which make tariffs quotas and quarantines They il it is which seize the weapon of competitive devaluation and seek with cheaper money to undersell rivals vals in world m markets The They it ibis itis Is which f foster ter the economic nationalism w which ich tries tries' t to sell without buying which looks upon every Import as s a loss Joss when actually it comes in only because it is worth more to the country than the export which buy it The hc attitude e of these special interests is natural And only ply a amad amad mad doctrinaire would suddenly destroy them in seeking the larger welfare of nations as wholes Yet no really sane sanc nation will sit still and make no effort to adjust its economy economy in line with national rather than special interests It is only because nations have lost sight of their true interests and have said that an increase of their wealth should not be accepted b because cause it came from across a 8 bo boundary that economic warfare has reach reached d its present disastrous be This This' economic nationalism this attempt of nations to to draw within within within with with- in theIr has not lessened but rather increased frictions Economic armaments tariffs and devaluations have gone hand in hand with new military arma arma- ments Good cause cause then fo foe Secretary Hulls Hull's statement to the conference of seaport cities International In I sanity requires both military and andl economic economic disarmament ment As the peoples s recognize the tr true nature of ot trade and their real jeal interests as its beneficiaries sanity should hould return return Christian Christian Science Monitor Mr Glass as as' a Critic Senator Senator- Glass is recognized as asHie the Hie most elf effective cUve critic of ot the new deal But on on ev every ry occasion upon which he has taken issue with tl the e new deal he has has' given unmistakable proof that he ho acted in all sincerity and nd not for any selfish p political motive It is probable that if President Roosevelt himself had the choice of or naming a senator from Virginia Virginia Virginia Vir Vir- ginia he would choose Carter Glass Glass or or at least cast we hope he would would Montgomery m ry Adv Advertiser As E Economists Think There will vill be public interest In in the results results' of a vote and survey sur urvey ur- ur vey made among economists and financiers financiers' by the National Eco Eco- Economic Economic league A little over ballots asking for opinions on one question and another were marked by the tho experts A majority 62 per cent seem to believe that a general higher price level would not be helpful to recovery Those who thought it would be helpful considered that tha it should be brought about by nor normal al economic activities rather than by direct money moncy manipulation Eighty b r per 1 ld Jd that an international gold standard affords th the greatest promise of reaching sustained prosperity but by a a vote as large it was said that if it we we are to return to such an in international international in- in al standard we must make sure th that t the leading countries countries countries coun coun- tries return to gold at equilibrium equilibrium equilibrium mod modern rn limits Sixty per cent are against having hayIng hav hay ing some part of ot the reserves of central banks composed of of- silver 53 per cent believe it would be wise to attempt an immediate sta stabilization stabilization sta- sta of the the- curren currencies ies of the countries s now on a paper basis The paramount problem of the country It was declared Is efficiency efficiency effi effi- clency and economy in government government govern govern- ment through all the units down downto to the village Oakland Oakland Tribu Tribune 1 |
