Nogales international., 1932-10-15

eI am Republican" Mr. Durant's cable read II voted
and worked for the election of Herbert Hoover 1928
shall Hoover next November nor will hundreds
of thousands of Republicans who like myself are interest
ed in his retirement to private llfe
"HOOyER HAS BEEN A GREAT DISAPPOINT-
MENT to his friends and the people generally His ad
mnistaton has parallel for nefciency since the es
+abshment of our Government With full knowledge OF
conditions existing when seeking the election 1928
Hoover was willing and anxious to assume the responsol
ties and promised much His failure largely OF his own
making due to wllngness to take advice and his In
ability to act promptly when prompt action is necessary
His excuses for his many failures at this late day are not
accepted by thoughtful people conversant with the facts
With our country it's present deporabe condition and
no Improvement in sight plain speaking is in order
"Aow me to mention a few of the many glaring Hoov
or failures HOOVER FAILED when he made no attempt
to control the action of the Federal Reserve Board ahough
he was personally warned that unless he acted promptly
and vigorously the greatest financial panic in history was
inevitable Hoovers failure to act caused shrnkage IN
the value of listed securities the UNHEARD-OF SUM OF
SEVENTY FIVE BILLION DOLLARS ($75,OOOOOO,OOO)
and in the depreciaton of real estate unlisted securities
industrial properties and commodities nearly as much
"HOOVER FAILED in not insisting upon and obtaining
revision of our banking laws which certainly needed re-
vision shown by the closing of over 4OOO banks IN tne
short space years with loss to depostors OF nun
dreds upon hundreds of millions of dollars taxing from
thousands of honest harworng and women the saw
ngs of lifetime And by the way notice that these same
deficient banking laws for political purposes even no"
being defended by of Hoover most ardent and en-
thusastc banking supporters The people are demanding
and are entitled to safe banking system which Will abso
lely protect depositors boh saving and commercially
from oss even though Government supervision and Gov
enent guarantee may be necessary to the success1u
working of the plan.
"HOOVER FAILED ignominiously and at terrific
cost to the Government in his farm relief measures the
most absurd and uneconomlc plan ever attempted some
thing must be radically wrong with administration that
will compel thirty million farm and their depend
ents employ their capital and contribute Their aoor IN
the production necessities OF life without pro1t an
in most cases. at actual loss Hoover although claiming
to be dry with all the of the Federal Govern
ent at his command failed to enforce the law governing
the manufacture and sale of spTltuous liquors Wncn mas
resulted in giving to every large city IN the united STATES
thousands of dsreputabe speakeases with the resultant
resnect for law not countenanced by any other Govern
mont on earth Failure to enforce the law has given the
criminal class strange hold upon our country to the e
tent that decent lawabdng citizens are helpless ana IN
constant fear of their lives and the safety OF their children
"Hoover for reasons best to himself, permit
ted the men who part in the World Var to be SUP
iected to treatment which has aroused the criticism and
condemnation regardless of party of every
citizen of the United States
"FRANKLIN D. ROOSEVELT A MAN OF lNIEG- 1e5,
RITY AND ABILITY, IN MY OPINION, BE ELECTED
BY AN OVERWHELMING MAJORITY"
William c. Durant is recognized one of Americas
greatest industriass and financlers; man VINO mas III
jated more enterprises built factories and VINO mas
the reputation of having made millions for his trenos
srd associates than any in the United States man
who was the recognized stock market leader curing the
Coolidge administration and who with his associates con-
that market on the constructive side for three years
nrior to Hoovers election; who realizing how c-
a was the situation built up by overenthusastlc captains
Of industry and financial giants ESQ caled) sought person
81 interview with President Hoover early in 1929 and plead
- I'll him ~ take action which would avert the great
which later only involved the United States