US Presidency
1936

The age of machinery, of railroads; of steam and electricity; the telegraph and the radio; mass production, mass distribution, all of these combined to bring forward a new civilization and with it a new problem for those who sought to remain free. For out of this modern civilization economic royalists carved new dynasties. New kingdoms were built upon concentration of control over material things. Through new uses of corporations, banks and securities, new machinery of industry and agriculture, of labor and capital all undreamed of by the fathers, the whole structure of modern life was impressed into this royal service. There was no place among this royalty for our many thousands of small business men and merchants who sought to make a worthy use of the American system of initiative and profit. They were no more free than the worker or the farmer. Even honest and progressive-minded men of wealth, aware of their obligation to their generation, could never know just where they fitted into this dynastic scheme of things.