Evening star., 1932-01-09
Excerpts From Smith Speech
Republicans Blamed for Conditions and Bond Issue
Suggested for Necessary Public ...
Improvement"
improvement

r. xcERPTs from the speech Of
Alfred E. Smith at the Jack
son day dinner last night fol-
IL low:
For half q century it has
been the proud boast Of the Republi-
can Party that they were the only
marty fit to govern, that 1t has mo-
ponoIv of brains and experience. be-
cause during the major part of that
npriod they we're in power In this coun-
trv and represented 1t abroad In
srme peculiar way they managed to
fasten into the public mind that they
we're the party that, by some auto
matte means, produced prosperity.
They led the people to believe that
there was some connection between
their party and the business interests
of the country which Justified them
in adopting as their slogan Ihe Full
Dinner Pail
Before elections the foremen and
managers of plants and business houses
we're around telling the employees that
their wages and jobs depended upon
Republican success at the polls, not
withstapding that every business de-
nression since the Civil War has oc-
CURED under Republican admins
tration or was directly traceable to
one They reached the high spot in
1923 when they flooded the country
with nropaganda to the effect that the
Republican Party and the Republican
party alone was responsible for all of
the efficiency displayed in business;
for all the progress and all the prosper
ity which human ingenuity had de-
vised for the promotion of American
business.
wear OF age. what happened? Bank
failures throughout the length and
breadth of the land, bankruptcy pro-
ceedings. foreclosure Of mortgages, de-
probation of prime securities, paralysis
of industry and business, and crowning
It all, 100000 people out of employ
ment and the establishment of the
bread line for the first time in many
years.
Variety of Suggestions.
Many suggestions have been made
as to the causes and the reasons. Many
more have been made as to relief. The
latter fall into three classes. The first
class includes international relations,
such as reparations settlements, ad-
iustment of foreign debts, disarmament
and tariff reform. The second class
comprehends expanding credit by
means Of home loan discount banks
and the creation Of a Reconstruction
Finance Corporation and more liberal
terms for rediscount by Federal Re
serve banks. The third class is the
cne that covers immediate relief for
the millions Of unemployed.
I am in complete sympathy with all
constructive and workable plans for
international adjustments and expan-
sion of credit, but these cannot be
worked out In time to solve the i'm
mediate problem of unemployment
With respect to the third, the Federal
Government plan is to pass 1t along to
the States, their localities and to pri-
vate charities. AS to this problem.
consider the attitude of the admins
tration to be indefensible inasmuch as
it already has been proven that the
States, localities and private charities
cannot cope with it. Cities and 10
calities have exceeded their debt limits
and face constantly decreasing reve-
nues.
In New York City alone, where there
is intensive manufacturing and conse-
ouently large opportunity, II any exists
for employment, there are more than
700 900 people without employment and
more than 100000 of them are heads
of families with women and children
depending upon them.
I have served on all Of the commit
tees so far brought into existence,
whether public or private, for the relief
Of this situation and I am prepared
to state definitely that, notwithstand-
ing an appropriation of $4,000 900 by
the City Of New York, S8000,000 by
the State of New York, and S20,000000
more by private gift from our citizen
ship, we are able only tc scratch the
surface in New York City, and only
for short time at that. We are
long way from bringing any full meas
ure Of relief. I am reliably Informed
that this condition prevails throughout
the United States.
Disguised Dole Assailed.
The direct results of this form of
relief are tWo-one Is to extend charity
to people in their homes and the
other is to provide work Of no lasting
benefit to the taxpayers whose money
is appropriated 1t is nothing more or
less than a disguised dole. At best,
all this relief must be for an extremely
limited period. Private funds can last
only for short time and the local.
ties are unable to carry the burden
much longer.
With respect to the solution OF the
unemployment problem, we must ab-
solutely forget politics and we must re-
gard the United States to be in state
of war 1t is a war against unemploy-
ment, disease and malnutrition. The
results growing out of this business
depression are creating greater havoc
with the family life Of America than
s,tt ~ "a
and we must resort to extraordinary
means in order to bring about a solu-
ton
1 suggest, first: An issue of Federal
bends for necessary public improve
ments, as distinguished from so-called
made work for the purpose of carrying
over a Winter.
When it is known to the American