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1 Wesley Livsey Jones, Foreign Trade Zones in Ports of the United States: Report, April 24, 1924 1 (1924)

handle is hein.trade/ftzu0001 and id is 1 raw text is: Calendar No. 499. 68TH CONRESS, SENATE. REPORT 1st Session. No. 477. FOREIGNTRADE ZONES IN POR 'S;0F TH-E UNITED STATES. APRIL 24 (calendar day, APRIL 2S), 1924.-Ordered to be printed. MR. JONES of Washington, from the Committee on Commerce, submitted the following REPORT. [To accompany S. 2570.1 The Committee on Commerce, to whom was referred the bill (S. 2570) to provide for the establishment, operation, and mainte- nance of foreign trade zones in ports of entry of the United States, to expedite and encourage foreign commerce, and for other purposes havin- considered the same, report favorably thereon and recommend that tle bill do pass without amendment. Extensive hearings were held by the Commerce Committee during the first session of the Sixty-seventh Congress on Senate bill 2391 with the same title and for the same purposes in view as this bill. The committee did not deem it necessary to have additional hearings. The tariff act of 1920 extended the bonded warehouse privilege beyond what any previous act had given and permits some of the operations proviaedfor in this bill but hampered largely by many of the restrictions and inconveniences theretofore existing and which it is hoped to avoid by the system proposed in this bill. Much of this report. is taken from the report submitted in the Sixty-seventh Congress on Senate bill 2391. The prosperity of a nation depends upon the extent and activity of domestic and foreign trade. We are peculiarly situated, however. If all foreign trade were shut off, business would be affected disas- trously for a while, but after a readjustment to suit the conditions prosperity would return and establish itself on a stable basis. No nation, however, capable of maintaining itself upon its own resources will interdict all foreign trade. World relations are becoming more and more intimate ani interdependent. The more perfect the means of intercourse the better it is for business, and the nation that has the most efficient instruments of commerce will secure the greatest good from foreign trade.

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