US Presidency
1932

I have for many years advocated speeding up of public works as relief to unemployment in times of depression. Since the beginning of this depression, in consonance with this view, the Federal Government will have expended in excess of $ 1,500 million in construction and maintenance of one kind or another as against a normal program of perhaps $ 650 million for a similar period. The budget for next year calls for over $ 550 million or double our usual outlay. If we shall now increase these programs we shall need instantly to increase taxes still further. We have already forced every project which we have justification with any regard to the taxpayer and the avoidance Of sheer waste. It is not my desire on this occasion to argue the comparative merits of extending such a program and that of financing an even larger program of employment on productive works through the Reconstruction Finance Corporation.