Transcription
For 10 years after the first world war, as today, there was a great for our products all over the world. This scramble for world markets resulted in some pretty short-sighted thinking. For instance, some people reasoned that all we had to do was to get our products onto ships bound for foreign ports and prosperity was guaranteed. They forgot that a lot of this business was done on credit. We wanted our pay in dollars and the only way the other fellow could get dollars was to sell us something or to send us gold. From our point of view, everything was rosy. But from the other fellow's point of view, things looked entirely [Music] different. Because our tariff made it difficult to send us goods, other nations had to ship us gold. Gold? What's the matter with gold? Why nothing so long as it keeps