Side by side in the New York Times one day last week appeared the follow-ing headlines:
WORLD MUST TRADE OR FIGHT, HULL SAYS
U. S. TARIFF BOOST WORRIES JAPANESE
In Manhattan Secretary of State Hull had delivered a rousing defense of the
New Deal's policy of lowering tariffs by reciprocal trade treaties. In Washington, President Roosevelt had upped the tariff on Japanese cotton cloth by a thumping 42%. Certain results of this move will be to put more money in the pockets of U. S. textile millers, make U. S. consumers pay more...