TARIFF: The Balance Tips

A high tariff and an adverse trade balance—this is the anomalous condition brought about in this country by a peculiar set of economic conditions. When the Fordney-McCumber Tariff was enacted economists felt that it would largely cut off Europe's opportunity to pay its debt to this country in goods. Imports into the United States during March amounted to $402,000,000. This is the highest figure since August, 1920, and reflects the current trade boom and its increased purchasing. Since imports are so largely raw materials, it also reflects heavy current manufacturing. Meanwhile our...

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