The Daily Alaska empire., 1931-06-24
THE PRESIDENTS SPEECH.

Gains in the stock market and other signs indi- cate an upward trend in the business and in- dustral morale of the country Of course. it is toe soon to say that the improvement is not tempor- ary but the hope that it might be permanent is very earnest and exists among those of all classes of good citizens
 We believe, however, that the apparent increas- ed confidence is more due to the optimistic and sensible speech delivered by President Hoover at Indianapolis than to the reparatons and the war debt holiday We can detect only one bit of falla- cious reasoning and purpose in the otherwise brave address of the President and that is his endorse ment of the tariff and declaration that the tariff wall ought to be made tighter. But the Chief Ex- ecutive's resolute purpose to refrain from adopt ing foolish panaceas and to rely on the country's resources and resourcefulness is reassuring. Into the discard went the dole system, the Hearst pro- posal for five billion dollar appropriation for public works and other wastefu plans His declara- ton that public works must be considered by engi- neers and must be needed in themselves was sound Any other sort of public works would be mere waste Let quote from the President:
 We shall keep this ship steady in the storm We will prevent any unnecessary dis tress to the United States, and by the activi- ties and courage of the American people we will recover from the depression.
 would be remiss if I did not pay tribute to the business, industrial, labor and agricul- tural leaders for their remarkable spirit Of cooperation. Their action is magnificent proof of the fundamental progress of Ameri- can institutions of growth in social and economic understanding, of our sense of responsibility and of human brotherhood.
 Leaders of industry have cooperated in an extraordinary degree to maintain employ ment and sustain standards of living. There have been exceptions, but they repre- sent small per cent of the whole. Labor has cooperated in prevention of conflict in giving greater efforts and consequently in reducing unit costs. We have had freedom from strikes, lockouts and disorder unequaled even in prosperous times We have made permanent gains in national solidarity.
 Our people take justifiable pride that their united efforts have greatly duced unemployment which would have otherwise been our fate; it is heavy but pro- portionally it is less than one-half that of other industrial countries. Great as have been our difficulties no man can contrast them with our experience in previous great depressions or with the condition of other important industrial countries without glow of pride in American system and confidence in it's future
 While we fostering the slow but positive processes of the healing of our eco homie wounds citizens necessarily filled with anxiety and in their anxiety there is the natural demand for more and more drastic action by the Federal Gov ernment. Many of their suggestions are sound and helpful
 Every suggestion which comes within the proper authority and province of the Executive is given most earnest considera- tion We are, of course, confronted with scores of theoretical panacea which however