FOREIGN TRADE: Two-Way Dollars

Standard Oil Co. of NJ. this week added its name to the growing list of U.S. companies urging lower tariffs. In a statement to the Clarence Randall Commission, Jersey Standard said: "Deterrents to international trade or investment . . . in U.S. laws or regulations should be reduced to the fullest possible extent consistent with national security, and . . . any further restrictions . . . should be avoided as injurious to our country and its citizens."

For the oil industry, said the company, "large-scale American participation" in developing overseas supplies is second in importance only to "a vigorous...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!