4 NOVEMBER 1932, Page 3

Tariffs and Trade A nation launching into the uncharted sea

of Protection, whether it be Protection by tariffs or Protection by quotas, may have something to learn from exPerience painfully garnered elsewhere. From that point of view an article in The Times of Wednesday, from the pen of its Paris correspondent, has a rather strong claim on attention in this country. The Union of French Export- ing Industries, faced with a fall in the value of French exports from 8,400,000,000 gold francs in 1913 to 3,000,000,000 gold francs at the present time, has addressed a letter to M. Herriot laying down its policy in regard to the removal of tariff barriers. On that The Times' correspondent observes : "Time belief is now growing in France that the gradual throttling of all trade. which has followed attempts to keep out imports is due, in France as elsewhere, to extreme protectionism and especially to the quota system, which in spite of the assuranees of its sponsors, had had the effect of raising prices and above all of disorganizing markets." It may be added that while tariffs make international trade difficult, quotas cut a definite proportion of it off altogether. Another Times correspondent—at Buenos Aires—mentioned on Thursday that to carry out the Ottawa agreements imposing quotas for frozen mutton and lamb would mean the ultimate extermination of the Patagonian sheep industry.