Evening Star Newspaper, October 16, 1928, Page 6

| WANTS PROTECTION 0 PAY ENVELOPES Nominee Tells Boston Audi- ence Party Will Safeguard American Standards. By the Associated Press. BOSTON, October 16.—The text of Herbert Hoover's address at Boston last night was as follows: Economic questions have over the ast 50 years grown to a larger and arger proportion of our national is- sues. Today these questions are more dominant than ever. Upon their sound solution depends our prosperity, our standards of living and the opportuni- ties for a fuller life to every home. I make no apologies, therefore, for speak- ing to you tonight on economic ques- tions as they are affected by the tariff and our foreign trade, Including our merchant marine. Obviously the poli- cies of our Government bear the most important relationship to the mainte- nance and expansion of foreign trade, and the Government is the sole origin of the tariff. I have been told that traditionally these subjects are of less interest to the women of our country than to the men. This I do not believe. Not alone are women today a large part of the army of industry, but they are also the treasurers of the household, and the security of the family income 4s to them of primary concern. Called Vital Questions. + 'There are no more . rtant ques- #lons to the people of New England dhan this. Nature has given you no eoal mines, no oil wells, no vast ex- panse of prairie—in fact, no great possessions of raw’ materials. Your (transportation relations, both " inland and overseas, do not’ present to you the economic opportunity for basic raw material industries. But New England has something even more important than all this. It has from the very nings of our history rovided indus . “and commerclal leadership and skilled workmanship in the United States. The courage, genius and lofty integrity. of - that . leadership ‘has for 200 years carried New England .through a score . ef . thase - inevitable crises that come from invention, from change in demand. ¥ New England began with a Andustry as her dominant comms occupation. She * led in it be- cause she bullt Ip Em and because she developed greater skill in operation. ‘Shé spread her ships Dot of our counict, o Gevelsp. the foor ;i sfi trained P the Mirst ereeted the first ‘ma- ‘the first equipment |increased and stable employment. was evident that we must sell more products abroad if we would restore jobs, maintain steady employment for abor and activity for our industries. It was clear that we must dispose of the farmers’ surplus abroad, if he was to recover stability and an ability to buy the products of our labor. As an aftermath of the war we were confronted with a total disorganization of our export trade. Our exports of war materials had been brought suddenly to an end. But, more than this, the trade of the entire world was demoralized to the extent that the actual movement of commodities between nations was less than before the war. We set out on a definitely organized campaign to build up the export of our products. To ac- complish this we -“eorganized the De- partment of Commerce on a greater scale than has ever been attempted or achieved by any government in the world. We mobilized our manufacturers and exporters and co-operated with them in laying out and executing stra- | tegic plans for expanding our foreign | trade with all nations and in all direc- tions. Established Co-operation. ‘The Republican administration by this action introduced a new basis in Government relations with business and in fact’a new relationship of the Government with its citizens. That basis was definitely organized co-opera- tion. The method was not dictation nor domination. It was not regulation nor subsidies nor other artificial stimu- lants such as were adopted by foreign nations in similar plight. It was the Government, with all its prestige, inter- ested solely in public welfare, acting through trained specialists in voluntary co-operation with communities of busi- ness men to promote the interest of the whole country in expansion of its trade and its ultimate expression, which is It was the promotion of initiative and en- terprise which ciaracterize our business menl. :‘gd nowhsite greater than-in New In the year 31922 our foreign trade, upon a quaniitive basis, was almost the same as it was before the war—that is, if we reduce the values by the amount of the inflation of the: dollar. Since that time our trade has increased steadily year by year, until in the year 1927 -our exports amourited to the gi- gantic sum of. $4,865,000,000—or a bil- lion-dollar under Republican rule. -Our imports increased in the past seven years. by over $1,675,000,000 to a total of "$4,185,000,000. There never have been such increases in a similar period before in our history. ‘Today we: are the largest importers and the second largest exporters of goods in the world. Our exports show on & quantitative basis an fncrease of 58 per ‘cent over pre-war, while our imports” are 80 per cent above pr war. The other combatant nations are only now barely recovering their pre- war basis. - All this has a very human interpretation. < Our total volume of ex- translates itself into employment 15 the Jast feve vears has Intersrsiod e years itself into MNyelihood for 500,000 addi- tional families in the United States. And, in ‘addition to this, millions more t onl ':V‘Beg aE&"m"" hng developed, not on! y_,n#'e}l , nhuumo( "I 15 not’ simply & present. - fas ks g & g 2 g A and u})on other hand the development of fo! ltrade to find world, markets for o today the -whole Nation solicttu promotion of b::lrntndemn of our'; bef As the tnlouo; in i g B 8 B ‘To insure continu- wages we must find a profitable market for these ‘surpluses. Stresses Stability. ,’nNorh:hu:‘llxnthe only x":san iol; lend- portance our _fore tn'da. either for New England or fw\mcry as a whole. Our business ideal must be stability—that is, regularity of |production and regularity of employ- rment. We attain stability in produc- jtion whether it be in the individual fac- |lory or in the whole industry or whether it is in the Nation at large by the number of different customers we |supply. The shock of decreased demand jfrom a single customer can be absorbed +by the increase from another if distri- {bution be diffused. Consequently our .industries will gain in stability the |wider we spread our trade with foreign lco\lntfle!. ‘This additional security re- ['flects itself in the home of every worker fend every farmer in our country. ‘The expansion-of export trade has a Nital importance in still another direc- tion. T which we export con- tribute to the purchase from foreign jcountries of the and raw ma- terials which we cannot ourselves pro- duce. We might survive as a nation, hough, on lower living standards and wages if we had to suppress the 9 per |icent_or 10 per cent of our total pro- fduction, which is now sold abroad. But our wohle standard of life would be { paralyzed and much of the joy of living ! destroyed if we were ‘denied sufficient |imports. Without * continued inter- ) change of tropical products with those 'of the temperature Zzone whole sections of the world, including our own coun- try, must stagnate and degenerate in civilization. We could not fun.an automobile, we could not operate a dynamo or use a telephone were we without imported ! raw materials from the tropics. In dfact, the whole -structure of our ad- neing civilization would crumble and the great mass of mankind would travel backward if the foreign trade of the world were to cease. The great war brought into bold relief the utter dependence of nations upon foreign trade. One of the major strategies of tha} hour was to crush the enemy by aepriving him of foreign trade and therefore of supplies of material and foodstuffs which were vital to his cz- stence. A Mutpal Service. ‘Trade in its true sense is not com- mercial war; it 18 vital mutual service. ‘The volume of world trade depends upon prosperity. In fact, it grows from prosperity. Every nation loses by the poverty of another. - Eevery nation gains by the prosperity of another. Our prosperity in the United States has en- abled us in eight years to make enor- mous increases in the purchase of goods from other nations. These increasing urchases have added prosperity and velihood to millions of people abroad. And their prosperity, in turn, has en- “abled them to Xxscrel{se the amount of ds they can buy from us. ‘o;ealinng these essentials, one of the first acts of the Republican adminis- has | gepression 4n:this enormous growth than of requesis which come ‘to’ the Department of Com- from our manufacturers and ex- I0r” assistance and service of kind' lore we. -operation the Government at its offices over the world received 700 such requests per day. T gg?‘ £ £ i : over 10,000 é EEE E positive results in dol we should never have seen this phe- nomenal h. Nor is the Government solely con- cerned with the sale of our products abroad. We are deeply interested in ‘ways in our imports. One of the most n:ghu l;u-:lom has been to secure supply, at reasonable prices, of raw m‘lleprml which we do “not 3 ing soon after the war, certain foreign governments possessing ical monopoly of such materials began the organization of controls de- signed to establish prices to the rest of the world, and especially to us, the t purchaser. These controls creased in number until they embraced nearly one-third of our imports and the undue tax upon our consumers reached hundreds of millions of dollars. We re- garded such controls to be in the long run uneconomic and disastrous to the interests of both' producer and con- sumer, 3 Backs Fair Price, ‘We, however, felt we had no com- plaint except in cases where these methods resulted in speculation and consequent unfair prices to our people. We wish to pay fair price for what we buy just as we wish to secure a fair price for what we sell. It was neces- sary for us to demonstrate that the consumer has nt rights. Our Government used its influence to assist American industry to meet this situa- tion, by encouraging the use of sub- stitutes and synthetic products, and by recommending public conservation at times of absolute necessity. Happily the trends in the creation and manage- ment of these monopolies has reversed itself, and I believe this question will present no further difficulty. The Government bears other direct responsibilities in promoting and safe- guarding our foreign trade. It can prosper only under sound financial poli- cles of our Government, it can prosper only under improving efficiency of our industry. In fact, its progress marches only with the march of all progress, whether it-be education or decrease in taxes. Foreign trade thrives only in peace. But, more than that, it thrives only with maintained good will and mu- tual interest with other nations. One of these mutual interests lies in the protection of American citizens and their property abroad and the protec- tion of foreign citizens in our borders. Tle world’s trading operations are by necessity largely carried on through the agency of their own eitizens who mi- THE EVENING war the Democratic administration found it necessary to take such action on nine occasions. While, during this administration only four such incidents have arisen. Every American must hope | that they will not again arise. Government co-operation in promot- ing foreign trade is even more im- portant for the future than it has been for the past. It is more important to New England than it has ever been before. With the assurance of peace for many years to come the world is upon the threshhold of great commer~ cial expansion. The other great nations of the world have been slowly recover- ing from the war. They have attained a very large degree of economic sta- bility. They are developing increased efficiency in production and distribution and prcmotion of trade. Come Here to Study. Almost every month brings some deputation from abroad to study our methods and processes, which they soon translate into their own use. We co not begrudge them all of our technical and other information. We search with equal diligence to translate their meth- ods of progress to our own use. . We have the intelligent self-interest' to realize that it is in the prosperity and progress of the world as a whole that we must seek expansion in dur foreign trade. Nevertheless, as the stability of foreign nations becomes greater and their methods improve, their competi. tion for neutral markets will become sharper. To receive our due share of prosperity in these markets we must continue an increasing vigorous co- operation from our Government. One of the most important economic issues of this campaign is the protective tariff. The Republican party has for 70 years supported a tariff designed to give adequate pmotection to American labor, American industry and the American farm against foreign com- petition. Our oppenents, after 70 years of con- tinuous opposition to this Republican doctrine, ‘now . seek ‘to convince the American people that they have nothing to fear from tariff revision ‘at their hands. The Democratie platform states that they will revise the duties to a basis of “effective competition.” They did this once before. When the Under- wood tariff bill was introduced, to Con- gress in 1913, the Democratic ways and means committee of the House present- ed it to.the country as a “‘competitive tariff.” ‘That measure’ was surely not a protective tariff. "It greatly reduced the-tariffs on American manufactures and it removed almost the whole pro- tection “of - the “agricultural industry. The competition which it provided was competition with foreign wages and standards of lving. Tested Briefly, ‘The Democratic tariff was subjected to test for only a few months prior to the outbreak of the war. Those few months showed the beginnings of dis- aster in both industry and agriculture. The production of abroad com- peting with our goods ceased during the war and tantt! "IU:D boeun: rel:fi tively unimportant. was not un puezye ‘was_restored that its {ll effects were completely disclosed to the Ame: It would seem fair to thors of the measure at. the time the Underwood bill was passed that it was the ideal of an “effective competitive” tariff. Be this as it may, competition, to be effective, must mean foreign will have o) ) of success- m:v‘lnvmln; our mm:rkeu. ‘The ‘effect of the formula there. set forth means a reduction of the tariff and a American tl’.r?m prices to mmom‘!:: T e oo tvg;.nle of those who labor whether. plan of | ey ds have increased steadily | that the duties which we proj would m :hg rice_of mant tured -ye decreased. It was urged ing the pressure of competition of for- eign goods, our industry would (:,n in efficiency. The answer to that is found in our vastly increased production per man in every branch of industry, which, indeed, is the envy of our competitors. Imports on Increase. ‘They asserted that the enactment of e iport et Guring the last seven our imports. ye e years our total , particularly of e mave greatly increasec. They bre- duce, have grea 5 - dicted thal asing u:yoru it would follow that our sales goods abroad would likewise decrease. Again they were wrong. Our exports have in- creased to unprecedented totals. In fact, every single argument put forth by our opponents against us at that time was roved to be fallacious. The tariff writ- i by the Republican party in 1922 has been accompanied by everything which our opponents predicted that the tariff would prevenlt;w It meen accom- ied by employmen! prosperity. p"?meT-’nflcommmuunmvd- uable arm of the Government. It can be strengthened and made more useful in several ways. But the American people will never consent to delegating authority over the tariff to any com- mission, .whether non-partisan or bi- partisan. Our people have a right to ex- press themselves at the ballot upon so vital 2 question as this, There is only one commission to which delegation of that authority can be made. That is the great commission of their own States and the President. It is the only commission which can be held respon- sible to the electorate. Those who be- lieve in the protective tariff will, I am sure, wish to leave its revision at the hands of"that party which has been de- votad to establishment and maintenance of that principle for 70 years. None Is Perfect. No tariff act is perfect. With the shitfing of economic tides some items may be higher than necessary, but un- doubtedly some are too low. This is particularly true so far as New Eng- land is concerned. New England has many protected industries. One im- portant branch of them, the cotton and wool industries, have not for the past few years been in a satisfactory condi- jtion.” They. comprise about 26 per grate to foreign countries. So that in the pursuit of foreign trade we have an exchange of citizéns as well as of goods. Take Prosperity . Abroad. Furthermore, our’ citisens ' who go abroad to develop foreign countries, our citizens who loan their savings to de- velop foreign countries are contributing to the advancement of trade. But they do much more. They. builld up the standards of living-and the in other countries. Unless be constantly ~evidenced amongst all nations that the .lives and properity of all citizens .abroad shall be protected, the foreign trade and the economic life | of the world ‘wilt erate instead of thrive. This does not imply that our citizens going abroad are not subject to the laws of the country where they reside. They must be subject to such of international obligation. This im- plies no imperialism. It is the simple recogntion of the principle of com- ity and mutual interest among all na- tions. Confidence in this principle is a tration when we came into power seven and a half years nfronted as we were by millions of unemployed— ‘was to devise measures to vigorously re- ‘, :w 89 wwand ow lggien ? necessity to the advancement of civili- zation itself. Fortunately the occasions where it has been necessary to send armed forces to preserve this principle ¥ are dimiolshiog. Asldy Fom He aeab Bere can | laws unless these laws are a_violation ; cent of New England’s industrial life. ‘Their depressed condition has not been peculiar to New England. The same situation has prevailed throughout the|by world and is due largely to the same factors—style changes, production in new areas and decided changes in the trends of consumption. There has been less hardship in the United States than abroad, and that fact has been due to the partial protection afforded in the tariff against inundations of foreign goods. Any change in the present policy of protection would, without question, re- Sult in a flood of foreign textile prod- \ets which. would mean no less than Tuin to New England industry, both manufacturers and workmen. That our American tetxile industry and its workers need solid protection is | clearly demonstrated by a comparison }of wages, and it must be remembered that our most severe wmgetltlon from abroad always comes in those types of cloths in which the element of labor represents the chief item of cost. A woolen and worsted weaver in the United States earns an average of 65 cents an hour, in Great Britain 30 cents,.in Ger- many 20 cents, in France 13 cents and in Italy 8 cents. The American cotton weaver earns an average of 40 cents an hour, the German 17 cents, the Fronchman Jess thap 11 cents and the ¥ [ [ 2 | our STAR, WASHINGTON, Italian 7 cents an hour. And in New England wages are higher than these averages for the whole country. The American protective tariff i the only insurance to our 600,000 familles who earn their livelihood in the cotton and wool manufacturing industries. against conditions and standards of living which necessarily result from them. Prospects Favorable. ‘The prospects for the textile industry are today much more favorable than for some time past. Both the world situation and domestic situation are im- proving. I believe these industries have turned the corner. -And there are omens of much broader significance which sustain me in my beliefs. As never before in the industry there is demonstrated a will to pool its best brain resources in the solution of pres- ent and future problems in order that there shall be mutuality of benefit to manufacturer, worker and consumer. Elimination of waste in production and distribution are in progress. Security and steady employment are more as- sured than for a long time past. During this campal ponents have asserte sistent to support the protective tariff and-at the same tim ‘Their theory is that if by & tariff wall | against competitive goods we reduce the sales of goods fcyu.s M'l&r:ltn coun- diminish loreign countries with which 1o buy goods from us, and thus in turn sales abroad are decreased. It B e s reduce the s to rkets, then we diminish the abil- ries to pay the debts This theory was the old days of direct as applied to th choosing, the Congress of the United | the e American situation. Economic theories . Responsil can not dally with critical policies which affect the wellbeing of the sole basis of a by the sclentists that every theory and every hypothesis must be placed upon the scales where the were in quantities, not argu- Not a Direct Barter, One Erl.ml.ry fault of this economic theory is that foreign trade is no longer & direct barter between nation and another. become more of the nature of a com- nmmlmmvhkhuln-finmm:r goods or credit and from which y retake goods and credit. =Let me give you an example: We ship more goods to Great Britain than we receive from her,l |nut we _buyd v;:t. ’qmlnmlu of tropical goods, and sl in turn sup- plies the tropical countries with her manufactures. In this way the settle- ment of ' international balances ande obligations is lifted entirely out of the category of direct barter. ] ‘The - first answer, - however, to this et .2 L o o 000 of ann are ad- mitted m of ical products” and selves luce. TOp hich we do not our- Of “the ' remainder, from 6 per cent to 7 per cent are lux- uries, upon which duties are levied for revenue and which' are bought by our people irrespective of price. The pur- chasing power of foreign' countries is cel un 1o the extent of this 70 cent. A fu answer is that 30 per cent or $1,250,000,000 of imports came in over the tariff wall and paid dutles to useful revenue of the Government of about $470,000,000. The purchasing Eo'" for our goods was nundiminished y this amount. A still further answer to this theory opposed to the protective tariff is the enormous increases of what are usually called the “invisibles” of foreign trade. That is the expenditures for freights, for insurance, by ts, grant remittances, for interest and a tundred other items. Sought Out Faets. Some ‘yesra ago, believing that these transactions were of vastly more im- portance in the determination of our natfonal = policies than had been credited to them, I instituted an an- nual determination of the facts. These determinations show that foreign na- tions now receive from us about two billions of dollars per annum for serv- ices, including such items as $770,- 000,000 paid out in foreign countries our tourists and $240,000,000 re- mitted by immigrants in our country to relatives abroad. This sum of two billions can_be applied by foreigners to the purchase of goods or to pay- ments on debts or for services in the United States just the same as the money which they receive from the sale of goods to us. If we add this two_billions to the $4,185,000,000 in goods -they sell us it makes their ehlflxmflpowcr over six billions. So that proportion of the foreigners' buying power, which is effected by protective tariff diminishes. to evyer:h: smaller ratio. answer is that the ?ml nfmti;n:r volume of ports is, in fact, deter- mined by the degree of froopemy of nations. By the very result of the tariff we have been able vastly to increase our imports of luxuries, raw materials and things we do not produce. With our domestic prosperity we require more raw materials, and by that same prosperity we have the resources with Which to buy them. By our prosperity Wwe have been able to go abroad as tourists and also to remit to our rela- tives in Europe. This, I , finally portance of this theory that our Serlously damages e burpE RRYE the wages prevalent abroad and the | ol between nations. The | Y. D. €. TUESDAY.. OCTOBER 16, 1928 FORE £ R . | Republican nominee for presidency addressing Springfield, Mass., audience as Bay State drive begins with appeal for l:lr“l' forelgn countries and thus diminishes our export trade. Experience Is cited. But if any more answers are needed’| to this theory there is_that of actual | practical experience. I have already rved that we have increased our imports during the last seven and a half years under the present tariff act by over $1,675,000,000 annually, or to.an amount at least 80 per cent above pre- war average after allowing for the higher prices. The exports of five lead- ing manufacturing nations of Europe to the United States have increased 75 per cent since 1913, whereas the sales of these same nations to the rest of the world have increased only 72 per cent. Certainly that does not indicate any great destruction of their ability to sell us something despite our tariff. In short, there is no practical force in the contention that we cannot have a pro- tective tariff and a growing foreign trade. We have both today. I spoke a few minutes ago of loans which our_citizens make to foreign countries. It is an essential part of the sound expansion of our foreign trade that we should interest ourselves in the development of backward or crippled countries by means of loans from our m}us capital. They bring blessings to the lender andthe borrower. When we make a loan.abroad .the | amount of that loan is not ordinarily exported in gold, but in goods or serv- ices, either directly or indirectly. ‘Most of them find their way out of our toun- | D try in the form of farm products, of machinery, plant equipment and sup- plies purchased of us. ‘We receive the first benefit in markets for our farmers and for the making of these goods, and that gives addifional employment to our people. The bor- rowever receives the second benefit he- cause the i tion™. of - g machinery and equipment, whether it be railways, power plants, harvesting: machinery or typewriters, brings great= er productivity to the receiving coun- and the whole world trade benefits. Some of this -new . industrialization abroad may result in_occasional com- petition with items here and there in our export trade, but the broad, gen- eral results of world betterment are as I have stated them. If foreign loans are applied to constructive develop- ment in foreign lands and if they are provided from capital beyond that which we require for our own needs, then they are necessarily beneficial, Argument Is Denied. Two_assertions have been made in connection with our war debts and for- eign trade that merit a word. The first, is the one I referred to before, that tariff prevents the imports of goods necessary to repay interest and capital upon these loans, and the second is that these payments must be ultimate- ly made in goods and that these. goods will some day replace the output of our factories and reduce the employ- ment of our workmen. This latter argument has been vigorously put for- ward as a reason for canceling our war debts. I deny its practical validity. The whole of the weight which I have applied to the fallacy that the protective tariff ruins our export trade applies equally to this matter. As I e b p e percen o power of foreign countries. Inut’ktllel‘end it bably increases. imports, because by creasing . our domestic prosperity it enables us' to buy far more goods of the raw material, tropical and luxury type. All the facts I have stated showed the increased buying power of foreign countries. avply equally to their abllity to pay loans and interest. The $320,000,000 annually due us upon war debt settlements represents today less than 5 per cent of the present total annual buying power of foreign coun- tries for our goods and other purposes. f this 5 per cent, four-fifths would he paid through invisibles as duty-free goods and only 1 per cent at the largest computation in competitive goods. A d, practical fact enters here also, which is that their buying power from us is constantly increasing. The fact is the increase in our tourist expendi- [turc alone in Europe since the war i would enable them to take care of the entire amount of their .annual pay- ments on these debts. The increase alone in our imported goods since 1922 | would pay the whole amount three times over. And the polyangular course | of trade which I have mentioned does! not require that these transactions bec directed with any nation, Denies War Profit. While I am on this subject of our war debt I should like to call attention | to another current misrepresentation. That is the statement that we made a ! profit from the World War and that | these debts were wrung from the blood | of other countrles. This is. absolutely | untrue. While certain individuals may have profited, as a whole this country was a great loser by the war. We emerged. from it with the loss of.life of our sons, with the depleted -health of others, with a huge debt, increased taxes, inflated currency, inflated ‘agri- culture, useless factories, with a short- age of housing and other facilities for the very basis of living, with suspended public works and inadequate communi- cations, demoralized railways and count- less other national losses which will continue for a generation. The increase in wealth and prosperity | in the United States has come since the war—not during that time. It is due | to the hard-working character and in- | creasing efficlency of our people and| to sound Government policies. And in | the largest measure the adoption and | application of these policies were due to that great son of New England, vin Cool o e rompeeity. this. gross 3 great, prosperity, great in- in wealth J; n one of the ‘This crease Its prosperity is thus increased | Pl many other parts of the world would have been compelled to suspend their development and expansion for lack of capital. Had it nat been for the industry and genius of the American people in the last seven years recov- ery of the world would have been de- layed a quarter of a century. Merchant Marine. A merchant marine under the Amer- ican flag is an essential to our foreign trade. It is essential to our defense. There is only one protection of our commerce from discrimination and com- binations in rates which would impose onerous charges upon us in the trans- portation of our goods to foreign mar- kets—that is a merchant marine under the control of our citizens. We have had need to revise our vision upon overseas transportation during the past few years. It no longer comprises large numbers of tramp steamers going hither and yon. From the point of view of our commerce it consists of about 25 important sea routes which are the ex- tensions to foreign destinations of our inland trade routes, upon which we need regular, ferrylike service of large cargo liner ships. This development of large units and repetitive operation fits with the character of our industrial development and opens wider hope for our return to the sea. We have endeavored for two genera- tions to find: methods for restoration of that prestige on the ocean. which New England at one.time gave to us. late years we have tried Gov- ernment. ownership and operation. No one can:now, claim that Government operation. gives promise of either ef- ficlency or.permanence. But by Gov- ernment operation we have maintained our. independence and- our defense in e meerthe trade routes and to buld up substantial flow ‘o -goods. Thus it has been but at heavy 8':‘?3 tes have gained in of' to mmve been dis- operation b, rise. i e \vate enterprise. With the legislation passed by the last Coa‘ur'gr:s& through which- a number of in t aids are given. to the merchant marine, is 3 that the Governmenit, will ultimately: be able to retire from competition -with its own cnm: in. the shlrplng. business, but I ot rest until we. are sure that private enterprise can carry the burden | grow’ in strength.” It is'a uclemlnty y ation will always be unsatisfactory. The government can not.. operate . cheaply; - it - cannot rid itself . of pernicious bureaucracy and politics; it cannot. avoid ‘the intermin- able difficulties and. wastes which come !rn:x this kind of organization and di- rect or. indirect political pressures. The of & substantial merchant marine lies-ultimately in the new character of overseas. shipping, in the energy and initlative of -our citisens with assist- ance and co-operation of the Govern- ment. That assistance and co-operation ntr: x;g‘w being given and must be con- & 5 Sums Up Speech. Now let me sum up the thought I should like to leave with you. I have talked to you about the tariff, about in- ternational tfade, the merchant marine and other economic forces. which may, af ce, seem far removed from our daily lives. I have tried to make the point that these. subjects are no longer remote from any one of you. The time may have been, as some one once said, when the tariff was a local issue or Toreign trade and shipping concerned only the local seaports. It is so no longer. Touch the tariff on textiles and North Carolina feels the blighting in- fluence as quickly as Massachusetts. Nor does it stop there. The farmer finds a diminished market in'the lessened de- mand caused by lower wages. Unsettle the credit structure and it is not Wall street that suffers most; it is the little bank, the little factory, the little farm, the modest home. A shartage of ship- ping to the Gulf ports at once de- creases prices to the farmer in Kansas, for he must take more expensive routes to foreign markets. The old local de. cisive issues are largeiy gone. The pres- ent issue is the wellbeing and comfort and security of the American family and the American home. On that issue eal Estate " Loans B C Proper_ty Only) No Coméi;nZoChuzed You can take 12 years to pay off your loan without the expense of renewing. $1,000 for $10 per month including interest and prin- cipal. Larger or smaller loans at proportionate rates. PERPETUAL BUILDING ASSOCIATION Established 1881 Largest in Washington Assets Over $18,000,000 Cor. 11th and E N.W, JAMES BERRY, President JOSHUA W. CARR, Secretary By ‘it we have been| HOOVER GRATIFIED | BY BAY STATE TRIP Plunges Into Task of Prepar- ing Next Speech i New York #donday. (Continued _from First Page.) vailing optimism over the Massachu- setts situation. Hoover has greatly im- proved his chances of carrying that State, with its 18 electoral votes, as the result of his personal tour through a section of the State, it was declared. Hoover dispelled any doubt that may have existed as to his ability as a cam- paigner during the trip just" ended, members of the party pointed out. He delivered more than a dozen extempo- raneous talks to widely varying groups of citizens in towns through which the party passed by automobile near Bos- ton. State leaders hailed Hoover’s trip as a real triumph for the Republican cause in New England. Hoover's next speech will be before a crowd of 20,000 persons in the famous “Garden.” The subject of this address still ap- pears to be uncertain. In the tentative plans there will be no street parades or | other old-time political ballyhoos on the occasion of the New York visit. Hoover will spend most of Monday in confer- |ence at the Waldorf-Astoria Hotel with | State political leaders, and he will at- my party presents, as proof of its ca- pacity, the record of growing comfort and security of the past seven years, I could not as a Californian conclude without a tribute to the large part which New England men Rave played in the advancement of my State. They pioneered its first commerce.” A Boston man, Thomas O. Larkin, was one of the first American consuls in Mexican Cali- fornia, and in large part to his ability and courage was due the peaceful an- nexation of my State. It was Daniel ‘Webster who inoved California’s admis- sion to the Union. It was New England men who established our school system and our universities. Today the sons of New England are among the leaders in our public affairs. _Views Spiritual Issues. Here in New England American business began and because the pros- perity of industry and commerce af- fects the life of every man and woman, every boy and girl, I have dealt with it in this address. But there are other things more important. Because I talk of business it does not mean that I place material things above spirit:al things. On_the contrary, I see pros- perity merely as the rich soil from tend a Juncheon in his honor at the hoel in the eanly afferncon. HOOVER'S BUSIEST DAY. Massachuseits Tour Said fo Have At- tracted 250,000 Persons. HOOVER TRAIN EN ROUTE TO WASHINGTON, October 16 (#)—Her~ bert Hoover is returning to his head- quarters today from New England after his most strenuous single day of cam- paigning since his nomination as the Republican presidential candidate for President, Invading Massachusetts, which the Democrats have claimed as their terri- tory, Hoover was greeted by enthusiac- tie crowds from the time he entered the State in the early morning hours until he boarded his special train for the re- turn trip to Washington late last night. Leaders of the Republican party esti- mated that upward of a quarter of & million people saw him in the more than dozen cities through which he passed. These leaders said that the visit of Hoover not only should stimu- late the party organization to greater efforts, but also have its effect on the fight to keep Massachusetts in the Re- publican column. Makes Extended Tour, During his stay in the Bay State Hoover traversed almost the entire length of the State and delivered six speeches in addition to talking briefly to 10 cifferent delegations that called upomx him at the home of Gov. Alvan T. Ful- lg’, whose guest he was while in Bos= . His principal speech—the third he has delivered east of the Mississippi—was made at the Arena in Boston. In this he discussed the tariff, foreign trade and merchant marine and for the first time hit out at the Democratic platform proposal for a “competitive tariff.” This formula of impost duties, he said, would result in a depression of American wages and American farm prices. His tariff declaration brought the most vociferous applause that he was accorded at the arena, but no less hearty was the greeting given by an overflow crowd at Symphony Hall when he declared there afterward that this and other economic issues called for the best thought and energy of government, ‘Wants Loyal Congress. In his address to the overflow au- dience Hoover called upon the people of Massachusetts to support not only the national Republican ticket, but also the congressional and State ticket. “It is impossible to contemplate & successful Republican administration unless our States will support not only the national ticket, but also their State and congressional ticket,” he said. “The Government of the United States does not lie in the hands of the President. It lies in the hands jointly with the President and Congress, and unless we may have the same party in control of both branches of Government we can have no successful Government, and, Lhere(orel. du g;;uhnre to give me your support lo implore you that you shall give it to the Republican candi- date for Senator. “If it should occur that I shall be elected President I should ask for no higher hope than that T have been able to conduct that office with the integrity which spiritual virtues as well as edu-' cation and art and satisfactions in life can grow. i Your founders' came to these shores not. through lure of gold; not with the ambition to establish great mercantile enterprises; not with the thirst for adventure. Their first objectives were far. different and more lofty. en necessities of life and of the spirit had been attended to, their first great desire was to advance learn- ing and perpeéfuate it for posterity. Out of that lofty ambition came the crea- tion of a score of institutions of higher learning. ~ Later the same spirit in- spired the establishment of other eol- leges in order that women might share equally with men in the opportunities of higher education. And from these institutions went forth- the -men and women who dotted our Western country with colleges and universities which have now become great, and who carried a love of learning that has led our Cen- tral and Western States to endow their public schools and universities not with millions of dollars, but literally with hundreds of millions. s New England ‘taught us the ways of business. But you gave us somef us men and women on fire with the passion for truth and service. You set us the first example in patriotism. The early New Englanders cast their lot for libertry in words that can never die when the people of Roxbury de- clared: “Our pious fathers died with the pleasing hope that we, their chil- dren should live free. Let none, as they will answer it another day, dis- turb the ashes of those heroes by sell- ing their birthright” These words did not spring from any consideration of material advantage. Those of our New England citizens who came in Iater times have caught that spirit and have carried it forward. It has spread its influence .to all our country. As a Westerner, I make grateful acknowl- edgement of our everlasting debt. Your example set the pattern for America's development. bles, if any. Such shées are to be had Select -the style you want and you fancy. Kid. [e———|o|——[o]——=[o]ch 0| —= o[ ——]a|e—=]1] far finer and more precious. You sent' pfl YSICAL ‘gu URE Style Plus RENOWNED FIT, COMFORT, STYLE and VALUE or character and resolution and spirit of Calvin Coolidge.” e Fashion Plates —will tell you nothing. by Earment will soon teil 3ou’ It yon e s mistake in taking it to the wrong place. w FURRIER 1008 Eye St. N.W. EXCURSION .$2.00 .$2.50 .$3.00 Lynchburg ! $4.00 Danville . ....$5.00 (Virginia) Saturday, ‘Oct. 20, 1928 Special Train Leaves Union Station. Leaves 7th St. Station. Leaves Alexandria. .. Tickets will be honored returning on Sl Fesular traing excent CRESK Sunday, Oct. 215t - This will probably be the last of these hi e week end ason: we, therefore, gest _you take advantage of same to ke trip home. onst Co. Exclusive Washington Agency It takes genius of the highest order to design LASTS that show the height of style yet comfort and correct foot trou- in the Physical ‘Culture Lines. we will FIT you in the shoe Step-ins, Two Straps, One Straps, Three Straps in Brown and Grq Patent Leather, Oxfords; also Satin. Exclusively Sold at— Edmonston s, CARL M. BETZ, Mgr. 612 13th Street ».7z4%%... le——=lo|c——|ale——ln]=