| Show Weekly news analysis nazi ar argentine gentine trade plans threaten american P program dogram by W la bine EDITORS NOTE when opinions r 0 expressed in these columns they are re those aasa tot of the ie news analyst tad and not act necessarily of el the ft newspaper trade high pressure international salesmanship runs counter to the reciprocal trade program of U S secretary of state cordell huu hull devoted to the cause of low tariffs and most favored nation pacts secretary hulls idealistic and honest efforts must compete with such devices as the german barter plan and a series of multicolored multi colored trade ideas which emerge annually from congress halls this month mr i hull saw his bis beloved program threatened on several fronts argentine of all south american governments that at buenos aires is least friendly with the U S at limas pan american conference argentina spoiled president roose belts continental solidarity dec J alf 0 Z ARMOURS PRESIDENT CABELL ile he want german harmonicas harmo nicas caration la ration by charging that the disgraceful policy of dollar imperialism was still rampant but the real roots of this dislike are commonplace mon place things like hoot hoof and mouth disease drouth and depression an agreement was reached in 1935 providing for U S import of cattle from argentine sections not infected with hoof and mouth disease but congress failed to ratify it in 1937 drouth and temporary U S prosperity forced heavy imports from argentina this business dropped with a thud in recession far taster faster than argentina curtailed her imports from the U S result has been a trade unbalance and subsequent strengthening of argentine exchange control against the U S encouraged by germanys germanas Germ anys increasing willingness to swap machinery tor for argentine foodstuffs this sentiment reached a climax with argentinas Argen tinas declaration that imports from the U S must be reduced to the level of 1935 36 faced with a 40 per cent slash in exports secretary hull may be forced to dangle juicy trade plums before argentinas Argen tinas eyes seriously endangering the rest of his reciprocal program germany barter trade like nazi germanys germanas Germ anys is allowed in the U S provided it does not interfere with the most favored plan but artificial currency devices like german payment tor for U S goods with trade marks good only tor for purchase of nazi goods are taboo mid february found U S lard prices low and likely to drop still stil more bjore when the spring hog run starts meanwhile germany hungered for tats fats putting two and two together german trade experts began contacting midwest packers to swap lard for machinery though the reich apparently progressed on two deals most packers turned their backs uninterested recalled was the experience of one firm which arranged a swap deal with germany several years Year sago ago only to find itself burdened with several thousand nazi harmonicas harmo nicas typical was the comment ot of R H cabell president of armour and company who dismissed the bid by simply stating that the big packing houses are not interested in bartering but in the sale of af products at market rates next day packers were pleased to note that lard futures were s selling elling up but mr hull could not fail ail to note that the nazi program had made a mite of progress in his bailiwick agriculture crux ot of the cost ot of production farm arm bill now before congress is that domestically con burned products shall have a minimum price AU all surpluses would be dumped abroad for whatever they would bring whatever the bills merits mr hull presumably regards it as an artificial trade barrier in the field of agricultural trade which would be reflected tn in other branches branc heg of commerce it cost of production tails fails the state department must situ hurdle a second new farm measure which would extend governmental loans on three major crops cotton wheat corn equivalent to three fourths the parity price an amount higher than the current market price farmers would then be expected to turn their crops over to the government for the loan price domestically consumed products would sell at not less than the loan price with surpluses the U S would attempt to recapture its lost foreign markets significance though world economic satisfaction must be a prelude to permanent world peace an important principle in the hull program ram each nation seeks to further its own admittedly selfish interest with self preservation as a justification still to come is the showdown in which nations will decide whether world problems will resettled be settled via economic treaties at the expense of selfish alms aims or via force at another kind of expense international in january adolf hitler ud told the reichstag that germany must export or die britaina Brit ains retaliation w was as creation of an export credit pool of price cutting and other forms of cutthroat cut throat competition often result in trade wars which end on the battlefield a threat britain recognized even while organizing her credit pool A devotee of peace via negotiation prime minister neville chamberlain con consequently arranged a german brit ish trade conference which meets at dusseldorf march 15 and may end in a U S british german agreement to regulate competition american industries are permitted to participate in cartels by the webb pomerene act on the eve of dusseldorf s conference the state department intimated some 25 U S industries were readying themselves to discuss such plans once this three corner comer agreement is completed P feted french scandinavian and swiss industries will be drawn into the cartel immediately though american participation in the plan apparently comes close to appeasement of germany as advocated by mr chamberlain the state department would rather make sensible recognition of the place under the sun than fight upset of its reciprocal trade program by germanys germanas Germ anys much de spiced barter system treasury heading headin southward to help the fleet ward off an imaginary aggressor from europe president roosevelt told reporters business and industry need have no fear of new taxes new U S competition in the power field or spending beyond budget needs A few minutes later he challenged budget critics to explain how the government could toss away its red ink bottle without bo boosting taxes or eliminating essential sent ial federal functions if business need tear fear no new taxes but if more taxes are needed to balance the budget the president was 1 contradicting himself 2 hinting that small taxpayers could expect new levies or 3 stating indirectly that he had no plans for an early balanced budget in the light of figures the treasury had released one day earlier mr Roosevel ts remark was more depressing during 1938 first sev en and one half months the U S spent or more than the entire estimated ie receipts tor for 12 months since receipts to io date are only total seven and one half month deficit is if spending continues as expected reaching almost by june 30 the years total deficit will approximate four billion dollars georgia long before he zoomed to tary ship of the democratic national committee L W chip robert jr was a prominent georgia building con contractor tractor one of was the addition to Milledg villes state hospital for which roberts firm got 6 per cent as a fee th this is session georgias legislature began looking for skeletons to drag from i 44 Vs do M A CHIP ROBERTS EGBERTS mews allen alien edwards objected the robert closet chief skeleton draggers driggers dr aggers were dougherty countes coun tys rep delacey allen alien and Vald rep H B hell bent edwards going home from washington to defend himself chip robert first heard mr allen alien say he had stolen the taxpayers money on his mill eddville edg ville contract next mr allen alien charged chip robert had resigned his assistant U S treasury secre trend T r fe fek K jull d how the wind is blowing television philadelphia manufacturers predict a limited number of television receivers will be placed on sale in may with six broadcasting stations in operation FORTS japanese are reported building underground defenses like frances maginot line along russian frontier in inner mon golia COMMUNISM paris communist paper predicts outlawry of communism restrictions on freedom of press and assembly and limitation of the rights of parliament following aprils presidential election RAILROADS U S in mid february hit 5 a week 68 per cent greater than in the corresponding 1938 week I 1 to avert a national scandal after G men had gotten on his trail regarding fig atlanta engineering activities next day mr robert hurried to dougherty county and filed charges of slander against representative allen alien returning he found hell bent edwards waving his arms from the house floor and talking like this its a shame on the state that weve got such a man as chip robert its a shame on the national democratic party that they allow chip robert to do like this and its a shame on the president of the united states that he has allowed chip robert to 10 do what he has done utilities until early february only one halt half of Tennes sees power came from the tennessee valley authority then wendell L wilkie stormy petrel of commonwealth and south ern em agreed to sell his firms firm s tonnes tennes see electric properties fo for r the first time in its campaign to acquire choice tennessee power fields TVA recognized common stock value in utility financial structures ten days daks later TVA rode again this time into memphis where memphis power and light company sold most wits of its facilities to TVA and the city for M P L s competitor a city owned corporation gets its electric and natural gas distribution business taking stock TVA now finds it has all tennessee as a noncompetitive competitive non power market elc except ept tor for upper eastern areas served mainly by small private utilities all ali the states principal cities memphis chattanooga and knoxville are included in the fold defense last decerb e r Preil president dent ro roose ose belts arms expansion program had more toes foes than friends in the still to convene seventy sixth congress two months later it had more friends thanks to clever white house publicity maneuvers and a lot of saber rattling in europe the house passed to 15 an administration biu bill to spend extra on defense the next two years same day great britain voted about more for arms chief features are boosting the ardys aviation force to first line planes and making the panama canal impregnable certain of passage was the vinson naval expansion bill to spend on naval air and submarine bases but there was little unity in this new strength closely allied to rearmament is the problem of U S military alliances with other democracies moc since the threat that inspired american rearmament is the same threat that makes france and britain jittery after a california air crash revealed U S manufacturers were selling military planes to france franc e after president roosevelt denied telling a senate military affairs committee that U S frontiers are in france the white house congress foreign policy debate came out in full bloom questions 1 shau shall the U S keep its foreign policy secret 2 Is president roosevelt risking involvement in war through secret international deals after a weeks debate there presumably surn ably were no longer any secrets about either the french deal or the administrations foreign policy actual cause of the rumpus was apparently patently ly removed but not congressional resentment thundered sen hiram johnson no epithets applied to senators or newspapers will relieve the situation of its secrecy there is resentment among the administration that anybody should ask the facts but if there comes a war it will not be fought by the president alone facts themselves are startling faced with U S military orders under the new defense bill plans plane manufacturers already have their hands full with export orders starting with in 1936 plane exports have roughly doubled annually approximating this year in the past eight months france and britain have ordered 1200 ships chief congles abbl bbl V wonder is which orders wil jt precedence U S or foreign pensions last time he was called before a congressional committee pension eer dr francis E townsend refused ending up with a 30 day jail sentence tor for contempt president roosevelt pardoned him business got better and pension talk dwindled but last summer townsend ism and a colorful assortment of other old age assistance plans blos t I 1 I 1 f i K alz t 11 DR FRANCIS TOWNSEND political theorist economist patriot domed with recession the administration fought this november election threat by promising to amend social security but by the time congress assembled it was wag obvious pen pioneers sio would have their say this time dr townsend appeared as political theorist economist and patriot before the house ways and means committee defending his plan to provide up to a month to persons over 60 by a 2 per chat cent transact transaction iod tax said political theorist townsend if we cant establish a higher standard of living for the submerged one half of our people than 40 a month then certainly were not going to be able to maintain our type of government much longer said economist townsend we have not scratched the surface of our wealth and productive ability he added that pensions might eventually be boosted to a month said patriot townsend 1 I wish you could hear the expressions of contempt against this great government of ours a government I 1 love and cherish with all my heart hearl a government I 1 would die for n if this government is going to Q styve i ve it must not give occasion aase ese deop people le 10 crux of dr townsends Town sends argument is that the profit system needs overhauling to avoid a spread of subversive agitation prompted by poverty well do committeemen know that U S poverty breeds ill WM will but there is serious doubt that town will receive congressional precedence over the social security revision plans president roosevelt offered several weeks ago and which the california doctor terms the height of absurdity people resigned wayne C taylor assistant U S secretary of the treasury because of differences with boss henry Jr announced by kinig king ca auoe VI braf his list of attendants for ip to canada next may significantly minus any politicians Q 6 western newspaper union |
