Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-20
'sBIC BUSINESS INDICTED
FOR PRESENT CONDITIONS
Senator Brookhart Cites Many Failures
in His Address in National
Radio Forum.

broadcast last night over q nation Woe
hoolup Of the Columbia Broadcastlne
System follows:
The death Of Theodore Roosevelt
changed the whole course OF American
history. After that untimely event, the
Government in all It's branches literally
fell into the arms Of big business
This surrender began during the last
DAYS of President wilson's administra-
ton and during his illness. IT Roose-
welt had lived he would certainly have
been President again. Then the sordio
story of Harding, Fall and Daugherty, Of
Mellon and Eugene Meyer would never
have been written. The elder La Fol.
lette stood stoutly against this financial
rule. and his giant efforts live TO-DAY II
the revival Of the Progressive cause.
This may be properly designated as
the era Of business in government.
It was business" that put the jokers
in the Federal Reserve act and drove
the surplus credit of the country to
New York for promotion and specula-
ton. It was big business" that lowered
the interest rate to itself for specula-
ton and longtime bond issues, ano
raised 1t upon agriculture and every
other little business. 1t was pig pusl-
ness" that seizeu control OF the war
Finance CORPORATION, the Federal Lana
BANK. the intermediate Credit Bank
and finally the Federal Farm Board It
self for the destruction of the family
farm home and the promotion OF the
corporation farm.
Decries "Big Business"
n was "bie financial business" that
promoted and sponsored the transpoIta
ton act, pumped seven billion dollaIs
Of water into the valuation OF the rail-
roads, raised agricultural rates 90 per
cent together with what nad gone pc.
million dollars from the treasury OF
the United States.
II was business in government" that
huih ships with public funds and at
enormous cost and then SOLD them 10
n was 'sbir business" that planned in
secret to force a general dehation IN
Nav. 1920. postponed it and further
infiated it so it could secure ample ereoIt
for its own protection, let 1t IAN IN DC
tober and, according to the ManuIac-
turers' Record, Debated agriculture IN
fhe whole sum of 80 billion dollars ana
little business by IS billions more. while
itself rode through triumphant upon
the credit savings of the whole people
n WAS 'biz business" that organized the
chain store system. 1t was dig DUST
ness'' that demanded branch banking
sv~fern. that sent its bank examiners
csIt to decry loans to farmers, closed
600 banks because they nao frozen
agricultural paper, although LOT %
wears that paper was the best q pank
could get: advised investment In long,
time bonds and until recently closed
banks because the bonds naa oeplecaSs
ated. 1t was big business" that passed
o,Ir tariff laws and sacrificed our foreign
markets on the altar OF greed.
II was sTbig business" that took It's
s,Yrnluses accumulated under tarin p.o-'
lection. went abroad and built factories
- hreak down American laborers ana
farmers with the cheaper labor OF 1or-
n vas s'big business" gone mad with
power and the lust for profits tnaL IA.
fated all stocks and bonds ana Klteo
their values 400 to 500 per cent lnCo
tire sky. Then, In spite Of all the Wis
soT, ~ high finance the bubble burst.
StiII sq,ip business laughed for time,
6eeIares more dividends than ever. mar
shaled its economic armies and nnaiiy
stoned the panic at q value level sun
400 per cent up in the air.
wreck and Ruin.
Agriculture lay PROSTATE where II nae
been since 1920. More than million
and a half farmers had lost their MONIES
or their life savings. Six million WORK
ers were discharged to protect ue
profits Of big business. Norman Ous a,,
raSs. ceased to function. Big business
rtiIl looked on in contempt and in scorn:
when we get ready we will cure II All
I'm with another stock boom and let 9ur
HE hanks crawl out. We want the III
tie ones destroyed, but we must save Ine
big ones so they CT put out nrancneS
in place of the little ones.
They first planned a consolidation o.
tl1e big Eastern railroads as peslS Oh
a big stock boom. This met senator
Co,Izens and blew up. Stocks went
lower still. Then came the mo.atoi l I'M
~ foreign debts. For few days the
hoorn prevailed, but too many knew
these stocks and bonds were still enor-
ynoaIsly inflated and began unloading
and again the boom collapsed. Inc
Yaxt move is the is per cent freignt
rate advance. but that has gone state
mate. and the big financial crowd now
stand appalled, at the wreck ana rum
they have wrought and trembling IoI
their own financial safety Tney muSC
have a acapegoat, so they point BACK
"a vearx 10 the war and then sigh II
Was All inevitable because of the war.
Thev think the people will forget that
ne were q debtor Nation when the war
began and soon paid over $5,OOU'oUU,-
OO0. They also want US TO forget that
directly end indirectly from war profits
we have loaned other people ABOUT Sz4,-
600 600 900 more and there was no de-
fault on these until we had been year
and a half In this depression. No, the
war did not cause it. 1t is the culmina-
zion Of business in government" 1t Is
tine most colossal failure in human his
aI3i1 business has garnered extor-
Tomato profits. but it has ruined the
General prosperity of the country. The
duty Of civilization is to provide en-
y1loyment for every one so he can earn
food, clothing, shelter and education
for his family big business In gov
eTnnnert'' has failed in these great pur-
noseg. In spite of its manipulation OF
10Th great political parties and OF IL
sinister philosophy Of party regularity
n has failed. Since business has falleo
n PERFORM these fundamental obllga.
tios1s n the people 1t Is necessary Cna'
the Government step in and perform
these duties. There is no other cnolce
end this Is the great issue before th'
next session Of the Congress.
Has Better Chance.
The question then arises, has thu
Government a better chance OF success
than the eternal gamble OF big pusi
ness? History 50 declares. All aoml
that the best thing IN our clynlt1aIr =,
the Government Of the States and D!
he Government Of the United States II
the District of Columbia, the Canal Ion'
and the Territories.
The next item in Importance Is ou
public road system. operated by Tn
States and the Federal Government
Jointly. There Is one little dot an
that Is private business In toll bridges
which must certainly be removed,
Next in importance is the Post ono