Evening star., 1932-03-11

represents the Duylng po"et oi The ma
ton" he said, must cooperate II
the program for RECONSTRUCTION H 70
succeed"
Tumulty on Air.
SHARPLY criticizing the hoarder Of
idle dollars, Joseph p. Tumulty, attor-
ney, secretary to the late President
Wilson, last night reminded the Ma
tional Capital in a radio address over
Station WRC that America had always
emerged victorious from panlcs ana oe-
pressions. and called upon the people
to substitute the philosophy OF 1aitn
for the philosophy Of fear and douot'
I'm the life of this Nation panics ana
depressions are not unusual nappen-
fn0s." he said. They are the diseases
that affect the body polite. America
in the past has been afflicted by panics
and depressions, and by reason OF our
great resources she has emerged Irl-
unnphantly, stronger and better, more
magnificent and prosperous In every
way"
Tracing briefly the history OF panics,
when we had bad fall" Mr.. Iumulty
pointed to this record as the trial pal
ance of America that he who runs ana
is based upon the basest and neanest
passion of man." he declared, that OF
fear. The man who boards not only
runs in panic from himself but by ms
very act he separates himself from MS
fellow countrymen who intend TO Stand
by their Government and its people 10
the end.
"One who boards pulls down the tenn
pie of credit upon his head" said the
speaker. Uncle Sam, II the necessity
should come, can do without the
hoarder but the hoarder cannot do
without Uncle Sam"
Clouds to Pass Away.
Paying tribute to "our beloved Uncle
Sam" Mr.. Tumulty said: With the
vicissitudes of the past few years he
has grown older and grimmer. but with
1t all wiser still. He is not discouraged
nor in panic. He knows that from a
fringe Of nations along the Atlantic
Seaboard in 1776 America has grown
into great economic power-the lead
ing Nation among the nations of the
world. He is conscious that the things
through which we are passing are tran
STORY and ephemeral; that soon the
clouds will pass away, and that then
will come the sunshine. He is hoping
that in this emergency we will show
ourselves worthy of those who set UP
this Nation, who built it out of their
tears and sacrifices. There could be no
better times than this-the Bicenten-
nal-to prove that we are worthy sons
Of worthy sire"
Arthur HELEN. attorney, speaking
people of this city to help restore con-
hdence and bring a return of pros
perity by bringing out their idle dollars.
BY far the greater part of the busi-
ness OF this country, and, in fact, any
country, is done on credit" he said.
This applies not only to the large
organizations but to the individual citi-
zen, to you and to me, whether our
means are large or small. Now, the
basis Of all credit is confidence and
faith in our Government, and in the
sound financial and business institu-
tions of the country"
The speaker addressed his talk to
those of you who have money in safe
deposit boxes old socks. bureau drawers
and similar places. boarded and out of
which is just as unproductive and dan
gerous as idle hands or idle brains"
Cites Harm Of Hoarding.
The harm Of boarding was laid by
Mr.. HELEN to three things-first, it is
dangerous and hazardous; second, it
hurts you directly, and you are getting
no return on what you have saved, and.
third, it hurts legitimate and honest
business, which thrives and flourishes
only If money Is in circulation, and
unless business is thriving and -four
ihing in the end you are the sufferers"
Declaring the Government needed the
help of the hoarder, the speaker sug-
gested that the principal means of
Offering such assistance were "by TAX
ing advantage of the present low prices
to purchase merchandise or make neces-
sary home improvements, by depositing
this idle money in a sound bank, and
by investing it in sound securities"
In recommending purchase of "baby
bonds" Mr.. HELEN explained that by
such purchase you are really getting
interest-bearing dollars for your pres
ent misunderstanding dollars and at
the same time are doing your bit to
restore to the Nation and all its citi-
Zens happy and prosperous times"