America's Falling Foreign Trade

Manawatu Times, Volume LVI, Issue 7061, 21 January 1933, Page 3

America's Falling Foreign Trade

NO OFFICIAL '‘BUY AMERICAN" MOVEMENT.

United Press Association—By' Electric Telegraph—Copyright WASHINGTON, Jan. 18. Simultaneous with the announcement by the Secretary of Commerce, (Mr Chapin), that the United States foreign trade in 1932 valued at 2,940,000,000 dollars was the lowest dollar valuation recorded since 1905. The Department of Commerce solicitor, Mr Morgan, stated that the Government was not justified in lending official support to the “Buy American” movement being agitated by various organisations to combat similar nationalistic movements by .other nations, particularly “Buy British. ” ■ The solicitor’s statement was made in reply to a letter from the American Ceramic Society, one of tlie leaders of the movement. lie added that while the Commerce Department was not opposed to' the movement, a division of interests prevents universal support or adoption of tho principle. Mr Ghapin cited the fact that although tho 1932 exports totalled 1,017,000,000 dollars, a decline of 707,000, they provided direct employment to. two million American workmen. “Wte must keep what we have and continue to strive and develop our foreign trade.’’ The statement is considered significant in view of the “Buy American’’ agitation.