OCR Text |
Show OUR VORLD TRADE One of the most tovching instances of modern economic diplomacy; dip-lomacy; can be found in the earnestness with which European economists econ-omists are now warning us that if we do not mend our ways so far as the tariff is concerned, and lower our rates, the time is soon coming when we will have no foreign trade at all. Of course any situation in which Uncle Sam would be stripped strip-ped of all his foreign trade would be greeted by his European competitors com-petitors with sincere lamentations. These same European nations are now competing with us for the trade of the world. They know that if our trade falls off, theirs will gain accordingly. What a beatiful example therefore of international unselfishness! It is in fact so beautiful that we are at once suspicious that there may be an Ethiopian lingering near the woodpile. Europe has never been so solicitous of our welfare before. There is of course a reason. What Europe covets is the American Am-erican market. She knows it is worth more than most of the other world markets put together., If she could get it she could afford to give up a great deal of the. rest of the world trade. But she knows also that this sacrifice wou'id not be necessary. Once the European nations have penetrated c ur tariff barrier and captured the American market, the American rr.anufacturer will be helpless. 1 lis mills will close and, bereft of the great home market which keeps him going now, he will los- out both at home and abroad. Here is the rub. European economists do not want us to lower our tariffs so that we may increase our foreign trade. What they desire is to cap-ure cap-ure the rich American market and so cripple American industry that we will be una ble to compete either at home or abroad. |