DANGER STRESSED

Evening Post, Volume CXXVII, Issue 138, 14 June 1939, Page 11

DANGER STRESSED

BARTER WITH GERMAN!

WARNING TO SMALL STATES

EVIL OF CLOSED ECONOMIES

(By Telegraph—Press Association—Copyright.)

WASHINGTON, June 12.

The Secretary of State, Mr. Cor* dell Hull, in a statement commemos rating the fifth anniversary of the American trade agreements programme, warned nations seeking selfsufficiency that they were heading towards self-destruction. He hinted indirectly, without mentioning names, that small counV tries which conclude barter agreements with Germany face a danger of becoming political vassals of that nation, and he intimated that closed economies would mean an increase in armament and human and economic regimentation. Mr. Hull stressed that the trade agreements programme had contributed in a large measure to the re-: covery of America's foreign trade, and had won the support of those countries which today transact the bulk of thet world's commerce. He concluded with what is consider?, ed to be an invitation to both Germanyand Italy to join the programme. "Our hope and our standing invitation is that in the coming years the programme may be joined by all," he said. "By its very essence it is open equally aodL impartially to each and every natioir without exception." - The successful use of the United States foreign trade agreements policy in checking the German trade drive in sixteen countries was revealed by MrV Cordell Hull on April 29. The Secret tary of State declared that in sixteen countries with which the United States had entered into trade agreements before 1938 imports, in three years, had", increased 40 per cent, as compared with the 1934-35 average. During the same period these countries had increased their purchases from Germany, by only 2 per cent. At the same time Germany had been increasing her exports. Greater Germany's exports for March last amounted to 480,000,000 marks, an increase of 70,000,000 marks, over February, the trade deficit being reduced from 60,000,000 marks (the Febr ruary figure) to 23,000,000 marks. ,