US Presidency
1938

These two steps taking care of relief needs and adding to bank credits are in our best judgment insufficient by themselves to start the Nation on a sustained upward movement. Therefore, I came to the third kind of Government action which I consider to be vital. I said to the Congress: You and I can not afford to equip ourselves with two rounds of ammunition where three rounds are necessary. If we stop at relief and credit, we may find ourselves without ammunition before the enemy is routed. If we are fully equipped with the third round of ammunition, we stand to win the battle against adversity. This third proposal is to make definite additions to the purchasing power of the Nation by providing new work over and above the continuing of the old work. First, to enable the United States Housing Authority to undertake the immediate construction of about three hundred million dollars worth of additional slum clearance projects.