US Presidency
1935

After careful consideration, I have asked the Congress to extend the life of this useful agency of government. As we have proceeded with the administration of this Act, we have found from time to time more and more useful ways of promoting its purposes. No reasonable person wants to abandon our present gains we must continue to protect children, to enforce minimum wages, to prevent excessive hours, to safeguard, define and enforce collective bargaining, and, while retaining fair competition, to eliminate so far as humanly possible, the kinds of unfair practices by selfish minorities which unfortunately did more than anything else to bring about the recent collapse of industries. There is likewise pending before the Congress legislation to provide for the elimination of unnecessary holding companies in the public utility field. I consider this legislation a positive recovery measure. Power production in this country is virtually back to the 1929 peak. The operating companies in the gas and electric utility field are by and large in good condition.