Evening star., 1932-08-21
ROOSEVELT, LAYING
SLUMP TO HOOVER,
OFFERS 8 REMEDIES
Protection of MASSES" His
Aim, He Tells 25,000 in
Ohio Audience.
STOCK MARKET CRASH
BLAMED ON REPUBLICANS
More Rigid Control of Banks and
Securities Pledged - Stirs
Crowds Enthusiasm.
BY the Associated Press.

BY the Associated Press.
COLUMBUS, Ohio, August 20.-Nine
Fundamental" economic remedies
which he said were for the protection
of the great mass of average American
men and women" were proposed today
by Gov. Franklin D. Roosevelt as he
fired the opening gun in his road cam
paign for the presidency this afternoon.
Charging that the Presidents accept
ance speech and the Republican plat
form are empty of hope" the Demo-
cratic standard bearer also aimed a
four -barreled attack at the Hoover ad-
ministration.
Thousands jammed the streets to
cheer the New York Governor as he
arrived in the city earlier in the day.
About $4,000 sat in base ball stadium
to hear his first away-from- home cam
paign speech He was introduced by
James M. Cox, former Governor OF
Ohio.
Il propose an orderly, explicit and
practical group of fundamental rene
dies" Gov. Roosevelt declared.
Protection for Masses.
These will protect not the few. but
the great mass Of average American
men and women, who, I am not
ashamed to repeat, have been forgotten
by those in power"
His nine proposals are:
l. Prevention of the issuance OF
manufactured and unnecessary securi-
ties of all kinds, which are brought out
merely for the purpose OF enrich,ng
those who handle their sale" And a
requirement that sellers of legitimate
securities disclose their bonuses and
commissions.
2. Full Federal regulation OF hold
ing companies which sell securities in
interstate commerce"
3. Federal authority in the regulation
Of exchanges in the business OF buy
ing and selling securities and commodl-
ties"
T. More rigid supervision of national
banks for the protection of depositors. ;"
S. Discouragement and prevention OF
the "unrestrained use Of bank deposits
in speculation. to the detriment Of local
credit"
Distinct Banking Functions.
6. Separation of investment banking
and commercial banking.
Z. Restriction OF Federal Reserve
banks, whose funds, prior to 1929, were
used practically without check for many
speculative purposes"
OF the other two, the Governor said:
Finally 1 propose two new policies
for which legislation is not required.
They are policies Of fair and open
dealing on the part of the administra-
tion with the American public.
In the first place promise you that
1t will no longer be possible for inter-
national bankers or others to sell to the
investing public of America foreign Sc
curities on the implied understanding
that these securities have been passed
on or approved by the State Depart
ment or any other agency of the Federal
Government
'In the second place. I assure you
that high public officials in the next
administration will neither by word nor
by deed seek to influence the prices OF
stocks and bonds"
Attacks Hoover Policies.
The Governor pointed his attack on
the Hoover administration in this man.
ner:
Il sum up the history of the last
administration in four sentences.
1T encouraged speculation and over
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