New Britain herald., 1929-12-03


 who is himself dependent upon some laws for the protection of all that he has and all that he holds dear. shall insist on selecting t!r particu- lar laws which he will obey. he un. dermincs his own safety and that of bis country.
 IaWbrcal,cr Enemy His attitude may obscure. bui il can not conceal, the ugly truth that the laWhrcakpr. whoever he may be. is the enemy Of society," We can no longer gloss over the unpleasant reality which should be made vital in the consciousness Ot every citizen that he who conducts or trIftiCs with crime. who is indifferent to it and 10 the punishment of the criminal or 10 the lax performance Of official duty. is himself the most effective agency for the breakdown of SO cicty."
 Mir. Hoover specified three steps which he had concluded were neCcS- Sary to bring about more efficient en- forcemcnt of prohibition. These were transfer 10 the department of jus tice of the functions or detection and ''to considerable Gc2rec" Of prose- cution now lodged with the prohihi- tin bureau in the treasury depart mont; relief for cOngested court con- ditons by simplifying procedure for netty cases, and qualification of the prohibition laws to avoid necessity of reSortinG to statutes. some of them 40 years old. He added that agencies charged with preventing smuggling should be organized into one border patrol under the coast guard.
 President Hoover said that al though the country had enjoyed d large degree of prosperity and sound progress during the past year" the long upward trend Of fundamental progress had given rise ''to oVer-optimism as to profits which translated itself into a wave Of uncontrolled speculation in sc- curities, resulting in the diversion of capital from business to the stock market and the inevitable crash"
 Praises Federal Reserve
 Fortunately he continued, "the federal reserve system had taken measures to strengthen the position against the day when speculation would break. which together with the strong position Of the banks has -St f,,l through the crisis without impair ment. The capital which has been hitherto absorbed in stock market loans for speculative purposes .s now returning to the normal channels of business
 There has been no imitation in the prices of commodities: there has i been no undue accumulation of | goods, and foreign trade has cN- | banded 10 a magnitude which cX- l erts stcadying influence upon aC- i tiNity in industry and employment.
 "The sudden threat Of uncmplOy- ment and especially the recollection ! of the economic consequences of previous crashes under much less secured financial system created un- warranted pessimism and fear. It was recalled that past storms of similar character had resulted in re- trenChmcnt of construction. reduc- ton Of wages and laying off of workers"
 "Thc natural result was the ton- dency Of business agencies through 1 out the country to pause in their l plans and proposals for continuation 1 and extension of their businesses. and this hesitation unchecked could i in itself intensity into depression | with wid spread unemployment and | suffering.
 "I have. therefore. instituted sys- 1 tematiC. voluntary mea sures Of CO., ! operation with the business institu- ! tiOns and with state and municipal 1 authorities to make certain that 1 fundamental businesses of the coun- ' try shall continue as usual that i wages and therefore consuming pow 1 CT shall not be reduced. and that q 1 special effort shall be made to cX- 1 pand construction work in order tO assist in equalizing other deficits in employment. Due 10 the cnlargcd i sense of cooperation and rcsponsi- 1 bility which has grown in the busi- i ness world during the past few years ] the response has been remarkable 1 and satisfactory.
 eve have canNaSs"d the federal of prudent expansion in such work that should hn helpful, and upon
 which inc different departments ] will nal.. Somc oarlN rcnommcnla.