The Archive · 1939

U.S. Tariff Blamed Houston

The United States tant wall i: driving other nations into war by depriving them of commodities they must have to exist, according to Dr. P. G. Haines, economíst of Texas A. and M. College.

"Italy went into Ethiopia for agricultural tand and agricultural products she once could get here," Dr. Haines said.

"The same is true of Japan, which has gone into Manchuria and China so she can maiše her own cotton. When she has consolidated her position, she never will buy another bale here.

"The United States before the World War, was a debtor nation, [owing Europe some $2,500,000,000," Dr. Haines continued. "After the war, the picture had changed and Europe owed us some $19,000,000,000. The only way trade could be carried on under this set-up was for Europe to buy our goods with gold, or to trade their goods for our goods. The United States has sixty per cent. of the world's gold, so it was impossible for Europe to use gold. The American tariff shut the other door. So the rest of the world is going to war and we are going to hell," Dr. Haines said-—United Press.

Text read from the printed page and cleaned; old type leaves the occasional error.

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