Show foreign trade not important the following was a communication received by the editor of labor magazine Is it possible we are going to tall fall for the politicians talk about the supreme importance of foreign trade for many many years I 1 have been a student of our foreign trade I 1 am lc convinced it is incapable of improving our general standard of living the reason our virtual self clency in basic raw materials technological no equipment and abundant manpower at the beginning of the roosevelt administration the president appointed george peck who was supposed to bea be a great expert to survey our foreign trade after spending plenty of time and money on the subject mr peck reported back our foreign trade for the 38 33 years between 1896 and 1904 did not bring us a profit but brought us a loss of it if we are smart we will base our prosperity on the buying power of our people no other country in the world car do that with the possible exception of russia |