AN INTERESTING VETO.

Auckland Star, Volume LII, Issue 55, 5 March 1921, Page 6

AN INTERESTING VETO.

Jn vetoing the Emergency Tariff Bill, _ the retiring President of the United y States has acted in line with the deter- l< initiation of his Administration to do '' nothing to keep up prices artificially. , The movement behind the Tariff Bill g came mainly from producers who had c been caught, in a falling market, and in a some cases were desneratclv anxious for - v re/lief. Our readers are familiar -with j some of t!he methods tried by Ameri-'n can farmers to stem the flood. Even I violence was used in the endeavour to f prevent sales. The ifrovernment wa-> • ' asked to provile credit to enable cotton s end wheat growers to hold for higher ( prices, but tiie Secretary of the Treasury a declined to do so. The Tariff Bill was j tin attempt to provide t'iiis assistance in';j another form. ;If it had become law it : s would have prolonged an artificial condi- 0 tion, , helped to prevent prices finding. a their level, checked the downward trendy of the cost of living, and interfered with , the movement of American exchange | c towards parity. New Zealand ie; \ a very different country from America, i ( but it is not unprofitable to con- ! d trast this American policy of non- ; r policy of trying to protect the prodrc.T j c from the effects of a wor'.d-wide move- • , ment. ' t