The Future Economic Policy of the United States

By William Adams Brown Jr.; World Peace Foundation | Go to book overview

CHAPTER VII
THE PRICE WE MUST PAY

SOME interests within the United States will argue that the price Americans must pay to lead and participate in a dynamic, prosperous world is too high. It is important to examine what the sacrifices, if real, will be.

Americans want to help prevent trade reaching another impasse of barter deals and "Chinese walls" created by tariffs like the Smoot-Hawley Act. They want to avert exchange controls which freeze funds so that it is impossible to get dollars out of Europe or Latin America in payment for our goods or loans. They want to end extreme economic nationalism that would sweep the world into wars for markets.

Yet Congressional debate and the pronouncements of pressure groups battling over extension of the Reciprocal Trade Agreements Act give warning that American interests will challenge minutely and energetically every concession this country proposes to make in behalf of a functioning world system. People in this country are realizing more fully that solution of our international economic problems is tied up inseparably with our desire for international security and peace. But Americans cannot pick and choose--do only what selfishly benefits ourselves to gain the apparent advantages of playing our own game-- and at the same time reap the benefits that can come only through cooperation.

-62-

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