That day was 220 years ago today. The below is from About.com.
On September 17, 1787, the 55 delegates to the Constitutional Convention held their final meeting. Only one item of business occupied the agenda that day, to sign the Constitution of the United States of America.
After being signed in September of 1787, Congress sent printed copies of the Constitution to the state legislatures for ratification. In the months that followed, James Madison, Alexander Hamilton and John Jay would write the Federalist Papers in support, while Patrick Henry, Elbridge Gerry, and George Mason would organize the opposition to the new Constitution. By June 21, 1788, nine states had approved the Constitution, finally forming "a more perfect Union." No matter how much we argue about the details of its meaning today, in the opinion of many, the Constitution signed in Philadelphia on September 17, 1787 represents the greatest expression of statesmanship and compromise ever written. In just four hand-written pages, the Constitution gives us no less than the owners' manual to the greatest form of government the world has ever known. We have no tribal council, nor can we vote anybody off the island. But, we do live in the land of the free, and as long as the Constitution stands, we always will.
Agricultural groups used to be united in pushing for free trade agreements. They focused on export opportunities. "Ninety-eight percent of the world's population lives outside the United States," they said. "We must access that market." Never mind that 99% of the worlds farmers also live outside the United States.
But now, after steep declines from the 1980's and early 1990's, our ag trade surplus is nearly gone. We are a net food importer, and have been for several years. That is because ag imports far exceeded the exports. But you will never hear some groups mention imports.
The American Farm Bureau Federation still supports virtually all trade agreements. A recent press release promoting the Peru trade agreement again focuses upon exports. No mention of imports. No mention of the trade deficit.
Some state Farm Bureau affiliates are starting to look at the other side of the trade flow ledger - the import side. When they do, eyebrows rise.
Major ag groups such as OCM, R-CALF USA and National Farmers Union like trade that produce a net benefit for America. "Net benefit" includes not only the trade flow ledger, but sovereignty, safety and other factors. This is not protectionism, but realism defined by our Constitution and our collective wallets.
The American Farm Bureau Federation is a big organization that has supported all trade agreements for a long time. It is hard for enlightened members and states to turn around that policy ship, but it is necessary to do it. Currency manipulation and border adjustable tax strategies by foreign governments make current "free trade" policy a fallacy. There is room to move without doing a 180 degree turn.
COOL is an unfulfilled promise, and our markets lack transparency.
Regulation of the domestic use of many banned chemicals is in effect here.
How strongly enforced do you suppose that regulation is in developing nations?
Wars aside, when it comes to consumer goods and food, do you feel safer yet?
* Low quality imports are one major factor driving quite a few industries to seek federal regulation rather than oppose it. Voluntary industry standards mean nothing to foreign companies sending in low quality goods at low prices. This is a strange change showing turbulence in the views of CEO's these days, which is probably turning many against the current failed trade policies.
* The New York Times published two editorials on regulation. One calling for regulation of all toy imports, with a well financed regulatory agency. The other editorial is poorly written, comments on the need to regulate all food and goods, focuses upon food, but doesn't really say anything specific.
* Sherrod Brown, who won the Ohio Senate race on promises to fix trade policy, is calling for labeling of all food.
* We are now seeing substandard steel coming in. This is a major problem. So far, the story is only in industry publications. But if someone dies, on a collapsing bridge for example, the whole thing will blow up.
On Tuesday, the Senate voted 74-24 to ban Mexican trucks from America's highways. It will be included in a transportation bill to be voted on later this week. NAFTA provides for Mexican trucks to come into the U.S. when equivalent safety standards are in place. But NAFTA was a bad idea, and spawned a lot of other bad ideas enrshrined in trade agreements.
We know what "equivalent standards" mean. Nothing. N-O-T-H-I-N-G. China's lead paint standards exceed the stringency of U.S. standards, but we now know how effective that is.
Byron Dorgan (D ND) sponsored the bill. If the measure gets into the omnibus transportation bill after conference committee, will Bush veto it?
The Wall Street Journal Editorial Board members are crying in their martinis. I've reprinted their editorial dismay below the fold (hit "read more").
