FOREIGN TRADE: Courage v. Hysteria

"Is this a country of free enterprise, courage, risk taking and initiative, or is it in a state of hysteria and fear psychosis?" The question was asked last week by Ohio Lawyer Charles Phelps Taft, 56, brother of the late Senator, in a speech on tariffs at Chicago's World Trade Conference. In answering his own bristling question, Midwesterner Taft let fly at the chemical industry and others who want tariffs kept high. Said he:

"The chemical industry ... is still fighting the long-dead German dye trust of 1914. [The chemical companies] finance the...

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