Those who wish to benefit foreign producers are much more likely to secure that result by continuing the present enormous purchasing power which comes from our prosperity that increased our imports over 71 per cent in four years than from any advantages that are likely to accrue from a general tariff reduction.
Calvin Coolidge: “Those who wish to benefit foreign producers are much more likely to secure that result by continuing the present…”
Editor's note · Context
He argues that maintaining strong purchasing power is more beneficial for foreign producers than reducing tariffs.
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