AMERICA'S POLICY.

Press, Volume LXIII, Issue 19162, 19 November 1927, Page 15

AMERICA'S POLICY.

OUTLINE BY MR COOLIDGE,

(bs cable— pbess association—copxhight.) '.australian and n.z. cable associatiox.)

NEW YORK, "November 17

President Coolidge, - addressing the Union League at Philadelphia, said: "In part we have adopted, and very generally maintained, for a period or' more than 100 years, a system of protective tariffs. This.enabled us to develop our natural resources, to build up great industries, to furnish employment for our increasing population and markets for the various products of farm and factory. Tliis policy lately has been extended to include the restriction of immigration. "Without the influence.of a protective tariff it would never have been possible for our country to reach its present stags of diversified development. Any material reduction in the general tariff rates would ultimately result in drastic deflation of. agricultural and industrial values and in the standard of living. Under the present system our' foreign' commerce has reached its highest-peace time record, and the national income has steadily increased to enormous proportions — 1)6,000,000,000 dollars last calendar year. . "We are in the postion that, with further moderate taxation, we can consider internal developments. On the sea' we shall round out a navy with more submarines and cruisers, and private ownership should provide it with an auxiliary merchant marine of fast cargo boats'; On land we shall build up air forces, especially by encouraging commercial aviation. We are more concerned than ever with foreign affairs. The wealth of our people is going out in a constant stream of record dimensions for restoration and.development in all parijs of the world. We want our moral influence to ,be on the side of liberty, education, fair elections, and honest, constitutional, Government.

"Where our obligations to our own citizens under international law have required it we have extended help to those attempting to secure these results, but we refrained from meddlesome interferences, because we recognise not only the right but. also the necessity for each people to work ont its own destiny."