Evening star., 1931-06-16
Text of HOover's Address
President Tells Indiana Editors That Period Of Great
Prosperity VIII Follow Present
Business Depression.

Loan and Farm Board system. We
have steadily urged the maintenance Of
wages and salaries, preserving American
standards OF living, not alone for its
contribution to consumption of goods,
but with the far greater purpose Of
maintaining social good viii through
avoiding industrial conflict with its stif-
fering and social disorder.
We are maintaining organized CO.
operation with industry systematically
to distribute the available work 30 as
to give income to as many families as
possible.
We have reversed the traditional poll
cy in depressions Of reducing expendi-
tureS upon construction work. We are
maintaining steady expansion Of ulti-
mately needed construction work In CO.
operation with the States, municipali-
ties and industries. Over two billions
Of dollars Is being expended, and today
and indirect employment through these
enlarged activities. We have sustained
the people in 81 States who faced dire
disaster from the drought.
We are giving aid and support to
the farmers In marketing their crops,
by which they have realized hundreds
OF millions more in prices than the
farmers Of any other country. Through
the tariff We are saving our farmers and
workmen from being overwhelmed with
goods from foreign countries where even
since out tariff was revised wages and
prices have been reduced to much lower
levels than before. We are holding
down taxation by exclusion Of every
possible governmental expenditure not
absolutely essential or needed In in
crease of employment or assistance to
the farmers. We are rigidly excluding
immigration until our own people are
employed. The departures and deporta-
tions today actually exceed arrivals. We
are maintaining and will maintain sys-
tematic voluntary organization in the
care for distress. There are q score of
other directions In which cooperation
is organized and stimulation given. We
propose to 60 forward with these major
activities and policies. We will not be
diverted from them.
BY these and other measures which
we shall develop as the occasion shall
require we shall keep this ship steady
in the storm. We will prevent any
unnecessary distress in the United
States, and by the activities and cou-
rage Of the American people we will re-
cover from the depression.
tribute to the business, industry. labor
and agricultural leaders for their re-
markable spirit Of cooperation. Their
action is magnificent proof Of the fun
damental progress of American institu-
tions. of our growth In social and eco
nomic understanding. Of our sense of
responsibility and Of human brother
hood.
Wages Maintained.
Leaders of industry have co-operated
in an extraordinary degree to maintain
employment and sustain our standards
of living. There have been exceptions,
but they represent a small per cent Of
the whole. Labor has co-operated in
prevention of conflict in giving greater
effort 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 can take justifiable pride
that their united efforts have greatly
reduced unemployment, which would
have otherwise been our fate; IL is
heavy but proportionally 1t is less than
one-half that Of other industrial coun-
tries. Great as have been our difncul-
ties no man can contrast them with
preSsions or with the condition Of other
important industrial countries without
a glow of pride in our American system
and a confidence in its future.
While We are fostering the slow but
positive processes Of the healing Of our
economic wounds. our citizens are nee
essarily filled with anxiety, and in their
anxiety there is the natural demand for
more and more drastic action by the
Federal Government. Many Of their
suggestions are sound and helpful.
Every suggestion which comes within
the proper authority ana province Of
sideration.
Scores Of PanAceas.
We are, Of course, confronted with
scores of theoretical panaceas. which,
however well intended, would inevitably
delay recovery. Some timid people,
black with despair, have lost faith IN
our American system. They demand
abrupt and positive change. Others
have seized upon the opportunities Of
d d'scontent to agitate for the adoption
of economic patent medicines from for
eign lands. Others have indomitable
confidence that by some legerdemain
we can legislate ourselves out Of q
worldwide depression Such views are
as accurate as the belief we can exor-
else a Caribbean hurricane by statu-
tory law.
For instance, nothing can be gained
in recovery Of employment by detouring
capital away from industry and COM
merce into the Treasury Of the United
States, either by taxes or loans, on the
kHaak kHn GnN0FVHNaAV9t
create more employment by use Of these
funds than can industry and commerce
itself. While am a strong advocate
of expansion of useful public works In
hard times, and We have trebled our
Federal expenditure In aid to unemploy-
ment, yet there are limitations upon
the application of this principle. Not
only must we refrain from robbing in
dustry and commerce Of its capital and
thereby increasing unemployment, but
such works require long engineering and
legal interludes before they produce ac-
tual employment. Above all, schemes
Of public works which have no repro
ductive value would result In sheer
waste. The remedy to economic de-
preston Is not waste, but the creation
and distribution Of wealth.
It has been urged that the Federal
Government should abandon It's Sys-
tenn of employment agencies and should
appropriate large sums to subsidize
their establishments in other hands. ]
have refused to accept such schemes, as
they would In many places endow po-
htical organizations with the gigantic
patronage of workmens jobs. That
would bring about the most vicious tyr
amy ever set up In the United States.
We have instead expanded our Federal
Government agencies which are on
non-political basis. They are Of far
greater service to labor.
Dole Is Denounced.
We have had one proposal after an
other which amounts to dole from the
Federal Treasury. The largest is that