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Facts Forum News, Vol.5, No. 8, August 1956
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Facts Forum. Facts Forum News, Vol.5, No. 8, August 1956 - File 040. 1956-08. University of Houston Libraries. University of Houston Digital Library. Web. June 5, 2020. https://digital.lib.uh.edu/collection/1352973/item/1469/show/1439.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum. (1956-08). Facts Forum News, Vol.5, No. 8, August 1956 - File 040. Facts Forum News, 1955-1956. University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/1352973/item/1469/show/1439

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum, Facts Forum News, Vol.5, No. 8, August 1956 - File 040, 1956-08, Facts Forum News, 1955-1956, University of Houston Libraries, accessed June 5, 2020, https://digital.lib.uh.edu/collection/1352973/item/1469/show/1439.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Title Facts Forum News, Vol.5, No. 8, August 1956
Series Title Facts Forum News
Creator
  • Facts Forum
Publisher Facts Forum
Date August 1956
Language eng
Subject
  • Anti-communist movements
  • Conservatism
  • Politics and government
  • Hunt, H. L.
Place
  • Dallas, Texas
Genre
  • journals (periodicals)
Type
  • Text
Identifier AP2.F146 v. 5 1956; OCLC: 1352973
Collection
  • University of Houston Libraries
  • Facts Forum News
Rights No Copyright - United States: This item is in the public domain in the United States and may be used freely in the United States. The item may not be in the public domain under the copyright laws of other countries.
Item Description
Title File 040
Transcript or more nations, supposedly as an inducement to international trade. Obviously, such a tariff reduction can be reciprocal only if conditions in the two participating countries are nearly identical: that i.s to say, there must be equality of living standards, wages, taxes, commercial laws, and currency stability. If these conditions do not exist there simply cannot be reciprocal trade. Suppose that we agree to cut tariffs in half. That would make the foreign shirt sell for two dollars and fifty cents in the United States and the American shirts sell for three dollars in a foreign country. The three-dollar American shirts would be displaced over here, but our own shirts still would not compete with the foreign shirt selling abroad for only two dollars. That is not all. Foreign countries have all kinds of laws and regulations that hinder American trade. Among these is a restriction on currency convertibility. An American manufacturer might be able to sell abroad for foreign currency, but he would not be permitted to change it into dollars. He would have to give his stuff away, whereas we do allow dollars to be exchanged for foreign currency. One gimmick is the cpiota system. Another country might reduce tariffs on American-made goods but place so small a limit on the amount imported that it would mean nothing to American industry. A third device is to place discriminatory taxes on profits made by American firms in foreign commerce. These are just a few examples of the methods used by other countries to get around reciprocal trade concessions. The reciprocal trade system includes the so- called most-favored-nation clause under which all nations get tariff concessions we make to any nation. We might grant a tariff reduction on cloth to Nicaragua, which produces very little, but that would open the door to such textile-manufacturing countries as Great Britain. A reduction on watch tariffs to India would open the floodgates to Swiss watches ancl so on. While we are on the subject of watches, let's just remember the fact that our own watch industry was recently going bankrupt because of low tariffs and we were forced to increase rates on Swiss watches to save a vital industry. Loss of our watchmaking plants would be disastrous because these factories make precision instruments such as bombsights, in the case of national emergency. Page 38 As a result of the reciprocal trade program, we have bankrupted or seriously injured a number of industries v ital to the national defense including . . . mining, the production of certain vital metals, and others. So the next time you hear that neat little slogan, "Trade — Not Aid," you might answer back, "Tariffs — Not Relief." • • CONGRESSMAN Lankford: Those of us who recognize the essentiality of expanded international trade to our national security ancl economic well- The tariff is the C.uU Stream of politics. It flows through both par- tics anil each is Irving to catch llir olhcr in bathing anil steal his clothes. — Patrick Francis Murphy Free trade is one of the greatest Nosings which a government can confer on a people. — Mac u iky. Kssay: tlilford's History of C.reece. Our interest will he to throw open the floors of commerce, ancl to knock off all its shackles, giving perfect freedom to all pcr-oii* for the vent of whatever they may choose to bring into our ports, and asking the .same in theirs. — Thomas Jefferson, Writings. being were heartened when President Eisenhower said in 1954, "For our own economic growth we must have continually expanding world markets. For our security we require that our allies become economically strong. Expanding trade is the only adequate solution. If we fail in our trade policy we may fail in all." However, since then we have been disappointed ancl alarmed by the protectionist action on the part of the Administration which has made it harder and harder for other countries to get dollars with which to buy American products. This choking-off of trade with the U. S. is having grave cold war consequences. For many of our allies trade is not merely a matter of convenience, it is a matter of survival. Nearly all of them would prefer to trade with the Western bloc, but if they cannot do so they vvill be forced. Out of sheer necessity, to trade with the Soviet orbit. Switzerland, for example, is a good case in point. For 104 years America Watel taken markc attrac with t Soviel •ogica gic in offens eessfu World sisteni not cc with , and Switzerland have enjoyed friendly economic relationship. EM ing the past nine years Switzerlsj has bought more than one billion, ft hundred million dollars worth i American products, while our pi chases of Swiss products amounted a billion dollars, thus giving our bt* nessmen, farmers and workers a tra< balance profit of five hundred milli" dollars. Among those who benefit from Swiss trade are the tobacco farmers southern Maryland, which I have honor to represent in Congress, fact, the Swiss are the largest ancl very best cash customers for " Maryland tobacco. Now where dot Swiss get the dollars with which Velrm, buy our Maryland tobacco and 1 tn1(, i other sixty-eight million dollars won balan( of American products they purcW g . each year? A great deal of it coif j,^-' from the sale of Swiss watches a1 \,. watch movements in the UnM States. That's why many people W^ concerned when the Administrat* increased tariffs on Swiss watch < ports by 50 per cent in July, 19" They felt this was a backward step the avowed foreign trade policy of] Administration. These fears have b6 realized. In the last nine months 1955, Maryland tobacco exports w< rorce 21 per cent below the exports of I corresponding period of 1954. " son t Maryland tobacco farmers thus hi \ye tangible and real proof that inter) tional trade is a two-way street. no 'ifeeti- r"») s There are, of course, inany other' tyr „ rise effects of these high tariff actij ' it name, Suhco , ' r Mghlj here, i "This have i fellow and tl hands. „ Earl Hi, su force. which have seriously endangered ' interchange of goods and good ^ p between this country and Swit/erl'1" Suni which are too obvious to recount detail. The decision on Swiss WH imports is a body-blow to our pies'1 and position of leadership in the » world. To the free world, particull Western Europe, this action beeaH1' symbol of our foreign economic po" against which our future policy S^ ments are to be weighed. Another corollary effect of action has come in the arena of East-West struggle. The steppe''!"! trade offensive by the Soviets with' trade blandishments that are b*1 offered our allies has proved turn ingly successful, for a consider'1 number of trade agreements "* been signed between the East I countries ol Western Europe. I noteworthy that the Communist r in Western Europe has aimed propaganda machine at the SI Facts Forum News, August, 1* T ing tlie,
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