Evening star., 1932-07-03
DRY LAW HELD DOOMED
IN ACCEPTANCE SPEECH
Governor Denounces Hypocrisy, Stresses
Action and Asks March of Progress
Before Convention.

with it. Credit contract. Industry
stopped. Commerce declined and
unemployment mounted. And there
we are today.
Translate that into human terms.
See how the events of the past three
years have come home to specific
groups of people. First, the group
dependent on industry; second, the
group dependent upon agriculture;
third, and made up in large part
of members of the first two groups,
the people who are called small
investors and depositors" in fact,
the strongest possible tie between
the first two groups, agriculture and
industry, is the fact that the savings
and to degree this security of both
are tied together in that third group
the credit structure of the Nation.
Interests Declared United.
Never in history have the inter-
eStS of all the people been so united
in a single economic problem. Pic
ture to yourself, for instance, the
great groups of property owned by
millions of our citizens represented
by credits issued in the form OF
bonds, of all kinds. Federal, State,
county municipal-bonds of indus
trial companies, of utility companies,
mortgages on real estate in farms
and cities and finally the vast in
vestments of the Nation in the rail-
roads. What is the measure OF the
security of each of those groups?
We know well that in our compli-
Gated interrelated credit structure,
If any one of these credit groups
collapSes, they may all collapse.
Danger to one is danger to all.
And how, 1 ask, has the present
administration in Washington treat
ed the interrelationship of these
credit groups? The answer is clear:
It has not recognized that inter-
relationship existed at all. Why, the
Nation asks, has Washington failed
to understand that all of these
groups. each and every one, the top
of the pyramid and the bottom OF
the pyramid, must be considered to-
gether That each and every one OF
them is dependent on every other;
each and every one of them affecting
the whole financial fabric?
Craftsmanship and vision, my
friends. require relief to all at the
same time.
Discusses Taxes.
Just one word or two on taxes,
the taxes that all of us pay toward
the cost of government Of all kinds.
Well. I know something of taxes.
For three long years 1 have been
going up and down this country
preaching that government-Fed-
4aA1 re
much. I shall not stop that preach
ing. AS an immediate program OF
action, we must abolish useless Of
fees. We must eliminate actual per-
formance of government functions,
in fact. that are not definitely eS-
Sential TO the continuance Of govern
ment. We must merge-We must
onsolidate-subdivisio of govern
ment and, like the private citizen,
give up luxuries which we can no
longer afford.
BY our example at Washington it
self we shall have the opportunity
of pointing the way Of economy to
local government, for let us remem-
Der well that out of every tax dollar
in the average State in this Nation,
40 cents enters the Treasury in
Washington. D. c.; 10 or II cents
only go to the State capitals and 48
cents out of every dollar are con-
sumed by the costs of local govern
ment in counties and cities and
towns.
I propose to you, my friends, and
through you, that government of all
kinds, big and little, be made solvent
and that the example be set by the
President Of the United States and
his cabinet.
And talking about setting definite
example, congratulate this conven-
ton for having had the courage,
fearlessly, to write into its declara-
ton of principles what an over
whelming majority here assembled
really thinks about the eighteenth
amendment. This convention wants
repeal. Your candidate wants repeal.
And I am confident that the United
States OF America wants repeal.
Sees Dry Law Doomed.
Two years ago the platform on
which I ran for Governor the sec
ond time contained substantially the
asme provision. The overwhelming
sentiment of the people of my State
as shown by the vote Of that year
extends, I know, to the people of
you now that from this date on the
eighteenth amendment is doomed.
When that happens, We as Demo-
Gratis must and will, rightly and
morally enable the States to protect
themselves against the importation
OF Intoxicating liquor where such
importation may violate their State
laws. We must rightly and morally
prevent the return of the saloon.
To go back to this dry subject of
finance, because it all ties in to-
gether, the eighteenth amendment
has something to do with finance,
too, in a comprehensive planning for
the reconstruction of the great credit
groups, including Government credit,
l list an important place for that
prime statement of principle in the
platform here adopted calling for
the letting in of the light of day on
issues of securities, foreign and do
nestle. which are offered for sale to
the investing public.
My friends, you and as common
sense citizens know that it would
help to protect the savings of the
country from a dishonesty of crooks
and from the lack of honor of some
men in high financial places. Pub
nclty is the enemy Of crookedneSs.
FavOrs Public Works.
And now one word about unem-
ployment, and incidentally about
agriculture I have favored the use
Of certain types of public works. as
further emergency means Of stimu-
lating employment and the issuance
of bonds, to pay for such public
works. but I have pointed out that
no economic end is served if we
merely build without building for a
necessary purpose. Such works, OF
course, should in SO far as possible
be self-sustaining If they are to be
financed by the issuing of bonds. So
as to spread the points of all kinds
as widely as possible, we must take
definite steps to shorten the working
day and the working week
Let us Use common sense and
business sense, and, Just as one ex-
ample, we know that a very hopeful
and immediate means of relief.
both fer the unemployed and for
agriculture, will come from a wide
Dlap nf thp ooDvprtipu of fnapU mil