Show economic econ 0 M i c highlights hi 9 heights As you read this conferences are being held in III london which though they will not make headlines save in economic periodicals may vitally effect world industry further these conferences may may mark the eventual success or daiv ure uie of cofone one of the most tar far reach ing and important In ovations oi of the roosevelt admi the tariff conceived and ad by the man who Is first in rank of the cabinet and to la also first according to most comme gators in ability and public esteem secretary of state hull 50 As the me magazine lite life recently said bald in a caption to a brief 0 r nl 1 I history 01 tais secretary tary and 1 1 la I department cordell huu hull believes in foreign trade as much as possible with as tow few restrictions as possible his tools are reciprocal trade agreements a reciprocal trade agreement Is a relatively simple thing two or more nations got get together discuss their desires in the matter of imports and exports nation A for example Is a tro ducer in heavy machinery for which it wishes a foreign outlet nations Bs leading asset is dairy produce of which there la is no internal surplus so a deal is reached whereby nation A reduces or op eliminates its ita tariffs on farm produce and nation B does the same thing tor for heavy machinery manufacture booms in nation A and agriculture prospers in nation B due to now new foreign consumption in ill practice of course reciprocal tariffs are extremely difficult doo amenta to frame conflicting ill teresta must be appeased sectional jealousies smoothed over cal problems solved the job calls for the utmost in doggedness per berdance Ber vance ailee and patience qualities possessed in large measure along with the equal vital quality of 0 a burning sincerity by secretary hull so tar far treaties have been made with IG 16 countries of which a considerable number are south american america republics one important treaty Is that reached with france which has resulted in an upsurge in III trade betwee between ithe the terl ter colar icolar and the stars and stripes the most important treaty and tai w the iii i d g laa hiie one reached with canada this treaty Is s important not only because con can ada Is a bordering nation and one of our best aitor eign customers it la is vital because canada is a main link in the chain of the british empire not everyone the canad inan treaty wise pacific northwest lumbermen for instance fought it aggressively agres as aa did amer can cali dairy interests and liquor producers the treaty reduced our tariff bars to a varying extent on Cana dinan timber dalry dairy products and whiskey but the treaty greatly increased our canadian market tor for industrial products pot notably ably machinery and the best economics comics think it was a good deal for all concerned 1 continued on last page economic highlights continued from page paga 1 ever since then mr air hull and his assistants have beon been working steadily and quietly to effect an agreement between tho the united kingdom wid and tile the united states this is the treaty that la is now being lit in london should the treaty be colsum abed one of 0 its major immediate effects will be to open a tremendous Bri british market for products ot of american agriculture ultimate effect 6 it is hoped will lo be to smooth the way tor for reaching si agreements gree menta ments with o other major european powers and this I 1 in tile the view of mr hull llull would not only mean a revival in ili foreign trade tor for all participating nations it would also mean a long step forward in the causo cause of world peace good customers it can be r reasonably e ason argued dont tight fight the london con conference cont orense ferense begun in ili mid may alay and will continue well into june the trade talks going on 0 there ther e are largely secret news la Is not given out until decisions have been reached weighed and finished it la Is the hope of many that out of tho confere conference Ace will come a major contribution to international prosperity and stability and to international amicability cabi lity it if that happens an all ex tennessee country lawyer cordell hollby namo name will deserve the bulk of credit tor for a gigantic task successfully completed ono one sure bure sign of better times Is the increased purchasing of goods in tilio the puro luxury classification If business week says that os estimates tato of 1937 retail jewelry sales males run as high as 29 per cent above last year fiest quarter imports of gems mainly diamonds came which is double the total for the same period in 1936 business Is still doing well and is holding to the high production levels reached last winter and spring by most lines steel Is operating at more than 90 per cent ot of april construction lit in 37 states came to more than and less of it was government building than formerly motors are running very close to peak production labor troubles are still a big fly in the ointment in some industries Ifo however wever there has been less lesa trouble than was expected principally because managements have figured it more profitable to accept union demands than to take a chance of having to cease production in a period or of heavy buying |