A full study of the effect of a reduction in tariff barriers on certain American industries. and in particular on wage standards and payrolls. is certainly in order before the Congress enacts legislation. I want to say. as one who believes in exchange of surplus commodities between nations. and as one who in private life has worked for freer international trade. that care must be exercised to see that substandard foreign labor must not be allowed to lower our own highliving standard. On a casebycase basis I am convinced a quota system which will protect American Industry and labor can be worked out by agreement. and I have always favored the idea of the Reciprocal Trade Agreements Act. In this connection I have spoken in favor of trade as against aid on a number of occasions during the 83d Congress. quoting my philosophy of economics that it is the stuff the United States produces. plus the stuff we import. less the stuff we export that measures our standard of living. It has been gratifying to me that among the many letters and communications I have received from constituents. practically all favor extension of the Reciprocal Trade Act.
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quota system