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year extension of the Reciprocal Trade Act. He said then: “If we fail in our trade policy, we may fail in all. Our domestic employment, our standard of living, our security, land the solidarity of the free world all are involved.”
A bill in line with the Presi- * dent’s trade program was intro- s - duced in the House of Representatives by Representative Kean of > New Jersey on April 15. •« When * certain Congressional leaders expressed unalterable opposition ta \ that bill, they induced the Presi- * dent to say that he would conar/tj promise 1 r a one year extension < of the present Act, which did not include the recommendations of the Randall Commission to authorize the President to go ~V further in reducing trade barriers than the present act permitted. So when the expiration date of the evisting trade act arrived, the Congress was offered no choice except to let the Act expire unnoticed or to hurriedly pass a bill to extend it for one year and it was stated in Senate debate that pressure had been brought on the President to agree that if the extension were approved he would not use the power given him to make any new agreements during the next year. This would, of course, make the extension an empty gesture.
I had these facts in mind when, in my University of Virginia.. Commencement address on June ) 14, I recalled .the consequences of our failure to follow the leadership of Woodrow Wilson after World War I when he advocatedinternational cooperation to restore "relations of mutual_advantage” among nations. I pointed • out specifically that at a time when trade wars were bringing on a world-wide \ depression, the United 'States sought to isolate itself behind the highest tariff ip our history and thus set the stage for World War II.
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