WORLD PEACE AND ONE-WAY TRADE

Evening Post, Volume CVII, Issue 149, 28 June 1929, Page 8

WORLD PEACE AND ONE-WAY TRADE

Fresh from a financiers' victory, f n. d. a. victory in which they showed initiative and in some ways played the leading role, the United States! reparations experts could not help' having a fling at the Farm Relief) Bill, even though its passage through Congress has shorn it of the debenture plan and similar artificial schemes for controlling supplies and for fixing prices of farm products. Proudly pointing to the draft reparations agreement as having stabilised European purchasing power, Messrs. Pierpont Morgan and Young declared that American farmers will derive more benefits from the settlement than they will trom the newly-passed Farm Bill. But is not this a tilt at the tariff as much as at farm relief? What is the use to the United States farmer of an American-inspired reparations settlement that builds up European power to buy and sell, if the United States is prepared only to sell and not to buy? In other words, if the United States tariffs for one-way tradje, and that one way becomes blocked by retaliatory tariffs, where is die gain to the United States? probably bankers and financiers of the Morgan and Young type dislike agricultural tariffism as much as they distrust farm tariff, but recognise that politics is a game of give-and-take played fox- votes. The gulf between Congress and the reparations experts conference chamber is profound. What has been done in the latter may count ( much for the American farmer, if not neutralised by what is being done in the former. But will the American farmer and'his political agents see it?