Date: February 24, 1931
Location: Northampton, MA
Summary: The U.S. should not fear a European agriculture agreement as it is better for us if Europe is financially strong.
(Original document available here)
Some fear is being expressed that a European agreement relating to agricultural products, especially wheat, will be detrimental to the United States. A conference representing twenty-four countries is now in session at Paris for the purpose of devising some system of international farm relief for Europe. It does seem somewhat strange to learn that more food is being produced there than can find a ready market. No doubt improved farm machinery has had the same effect as in the United States.
As our farmers have secured the adoption of a policy practically excluding importation of many of their products, we cannot object to a like policy by others. Yet we do import about $700,000,000 worth of farm products. While we may suffer some temporary loss of exports from a European agreement, in the long run our interests are so vast and varied that the economic strength of that continent will be greatly beneficial to us. Compared to the injury that we would suffer from a breaking down of the finances of that region, any agreement they may make would be distinctly to our advantage. European prosperity will be much better for us than European depression.
Citation: Calvin Coolidge Says: Dispatches Written by Former-President Coolidge and Syndicated to Newspapers in 1930-1931 (Calvin Coolidge Memorial Foundation)
The Coolidge Foundation gratefully acknowledges the volunteer efforts of Jill Leavitt who prepared this document for digital publication.