ECONOMIC SELFISHNESS

Wairarapa Times-Age, 4 January 1940, Page 6

ECONOMIC SELFISHNESS

The President continued that the blind economic selfishness of the United States and other countries after the great War had produced trade restrictions which had blocked commerce between nations. From that premise, he devoted the mid-section of his message to a defence of Mr Cordell Hull's reciprocal trade agreement programme, which was conducted by an executive department without Congressional con--sent or advice. The Act under which it operates expires in June. Mr Roosevelt said it should not only be re-enact-ed. but extended, “as an indispensible part of the foundations of stable and durable peace.” The old conditions of world trade made for no enduring peace,” he said. “When the time comes, the United States must use its influence to open the world’s trade channels in order that no nation . need feel compelled in later days to seek by force of arms what it can well gain by peaceful conference. For this purpose, we need the Trade Agreements Act even more than when it was passed. “I emphasise the leadership which this nation can take when the time

comes for a renewal of world peace," the President continued. “Such an influence will be greatly weakened if the Government becomes a dog in the manger of trade selfishness. Washington warned us against entangling foreign alliances. I subscribe to and follow that precept, but trade co-oper-ation with tne rest of the world does not violate the precept in any way.