The standards of living in the United States for the workingman ara higher than those of any other people. It has long been. recognized that other countries with whom we compete in the world market have not measured up to us in this respect. I fully realize it is more or less true that when we raise our tariff barriers to protect our workers European and Asiatic employers. to enable them to make our tariff inoperative. have cut their cost of production by reducing. wages. thus decreasing their buying power and also their standards of living. in order that they may undersell us. not only in the markets of the world but also in our very own market. We know. too. that if they fail to achieve their end by reducing wages and living standards. they resort to monetary inflation. for which we in the end pay. Therefore. shall we step away from our own rigid economic nationalism which. it is claimed by our international enthusiasts. lowers the living standards of the workers in foreign lands only to bring American living standards down to theirs?