New Britain herald., 1928-06-27

division in our ranks and to sub merge these fundamental issues for which we can unite in concert"
 Pleads Fr Harmony
 He declared that as congress now is constituted and as it likely will be composed for many years to come, there appears no likelihood of re- peal or nullification of the 18th amendment"
 He pleaded for harmony and fo, honorable compromises" He at- tackled what he called false issues advanced by republicans" including sham prosperity" he advocated honesty in government. and pleaded for a strong farm relief position and for democrat foreign policy.
 High points of the speech fol- low:
 ''The democratic party has labor ed to establish the doctrine that the fundamental function of government is to secure equality of rights and opportunities for all citizens.
 Tn this campaign the republicans cunningly seek to raise false issues through which to win their way back into public favor.
 "The national administration dur ing the last sever years is indefensi- blG from any standpoint. For cor ruption and inefficiency 1t Is paral- leled only by the disgraceful prosti- tuition of power in states dominated by the republican party. The asser- ton of our opponents that the dem- ocratic party cannot be trusted to promote sound business is totally false. The democratic party has at no time interfered with lawful en- terprises. It is the defender of legitimate business.
 Better Prosperity Coming
 "The prosperity of the present by no means equals that under demo- cratic control.
 "1rhe facts on the whole do not justify the boast in the Kansas City platform.
 Conditions Worse
 "The secretary of the treasury ad- mits in his annual report for 1927 that conditions during that year were worse than in 1926.
 ''The Presidents industrial con- ference board asserts that business prosperity in the United States is confined to giant corporations. The bureau of foreign and domestic commerce examined one hundred thousand concerns in 1927 and re- ported thirty-four thousand of them earning no profits whatever.
 The commissioner of internal revenue states that only three -fifths of the corporations manufacturing textiles and the same percentage of corporations manufacturing leather products reported net incomes for 1925.
 "The record of commercial and bank failures reflects the falsity of this claim of exceptional prosperity.
 Tn 1919. only 50 state banks and four National banks failed with ag- gregate liabilities of less than $12.- 100000: in 1925 361 state banks and 1o3 National banks with total lia- bilities of s175.oo0,0Oo passed into receiverships. Note the figures for 1926: 77s state banks failed with of 6,0oo,0o0; the data for 1927 is incomplete but it shows total liabilities of state banks which became insolvent during that year in excess of 100000.
 What are the facts with respect to commercial failures? There were 29 per cent more in 1927 than in the previous year.
 Annual farm products decreased more than $1.50o,00o,00O comparing 1924 with 1927.
 20 Per Cent Decrease
 "The bureau of labor statistics reveal 20 per cent decrease now in over 1927.
 "The depressed condition of agri- culture is of common knowledge. This. the greatest of all industries, has been steadily declining since the party initiated its policy of def1ation in 1921. Every one knows that agriculture has been go- ing backward since Wilson's admin istration ended. Never before has there existed such discontent among farm producers. They attribute their distressed condition to the poli- cies of the republican party.
 "The economic equality of agri- culture with other industries may be promoted by reducing the tariff on articles consumed by farmers; by a system of export or by the adoption of the principle of the McNary- -Haugen bill. Such equality can never be established by merely raising the tariff on importations of products which are grown in substantial sur plus above domestic requirements.
 Farm Relief
 This convention should invite support from farmers by declaring adherence to these principles.
 The mingled stupidity and au- dacity which prompted the Kansas City convention to boast prosperity evidenced by insolvent banks. bank rupt farmers and merchants and by millions of unemployed laborers, in- vite decisive political revolution. The farmers of the west and of the middle west will not support Mir. Hoover. He has led the forces op- posed to the McNary- Haugen bill and challpnped ifa advorates"