Evening star., 1932-11-06


protect every family and fireside so far
as 1t was humanity possible from de-
terioration.
We have proved time and again in
actual war the altruism and patriotism
Of our people, the solidarity of their
action toward common objective. But
in this war against the invisible forces
we have seen groups Of men attempting
to profiteer from the miseries Of our
people, both to increase their own for
tunes and to increase their political
strength. We have seen the very meas
ures we have taken for defense Of our
people and reconstruction Of recovery
subjected to the cheapest Of political
Misrepresentation. We have seen at
tempts of these same groups, even in
this national emergency bring forth a
philosophy Of government which would
destroy the whole American system on
which we have builded the greatest Ma
ton Of $50 years.
Indeed this is the same philosophy
Of government which has poisoned all
of Europe. They have been the fumes
Of the Witch's caldron which boiled in
Russia and in its attenuated flavor
spread over the whole Of Europe, and
would by many be introduced into the
United States in an attempt to secure
against emergency conditions. We have
had to meet such handicaps from our
opponents, both while meeting the first
emergency which endangered the Ma
tion and in the building Of employment
and agriculture.
I have enumerated at various times in
this campaign, the measures adopted by
the Republican administration to meet
this emergency. l have enumerated our
long-vieW policies to cement that re-
covery and to stimulate progress in our
country for the future.
l will take your time tonight to re-
fresh your minds on the unprecedented
measures adopted from the beginning
of this depression. I will also refresh
your minds on the measures. lack Of
measures or destructive measures pro-
posed by our opponents.
Cites Tariff Benefits.
l. The first of our measures, which
subsequently proved of great emergency
service. was the revision cf the tariff.
BY this act we gave protection to our
agriculture, from a world demoraliZa-
ton which would have been far worse
than anything We have suffered, and
we prevented unemployment to millions
of workmen.
2. We have secured extension of au-
thority to the Tariff Commission by
which the adjustments can be made to
correct inequities in the tariff and to
make changes to meet economic tides,
thereby avoiding the national disturb
ance of general revision of the tariff.
with all its greed and log rolling. That
authority becomes of vital importance
today in the face of deprecated cur
rencies abroad.
Defends Wage Level.
8. At the outset of the depression we
brought about an understanding be-
tween employers and employees that
wages should be maintained. They
were maintained until the cost of living
had decreased and the profits had
practically vanished. They are now the
highest real wages in the world.
With the concurrent agreement Of
labor leaders at that time to minimize
strikes. we have had degree of social
stability hitherto unknown in the his
tory Of any depression in our country
I cannot pay too high tribute to the
leaders of labor, leaders Of industry and
the population in general for their in
telligent self-control and their devotion
to the cause of order in time of stress.
of the Democratic party began his
speech in New York by accusing the
Republican party of Waging campaign
of fear, declaring that the success of
the Republican party at the polls next
Tuesday night be followed by mob
disturbances to public order. How does
the gentleman explain the last three
years Of unparalleled social calm? Does
he mean to charge that this magnificent
body of self-disciplined citizens is sud-
denly overnight to become a mob? Or
does he mean to imply that his party
is the party of the mob? In either
event does he mean that we must ac-
cept the threat of mob rule in the
United States as guide to our conduct
on election day?
I. An agreement to a spread of work
where employers were compelled to re-
duce production was brought about in
order that none might be deprived OF
all their living and all might partici-
pate in the existing jobs and thus give
real aid to millions of families.
5. We have mobiliZed throughout the
country private charity and local and
State support for the care of distress
under which our women and men have
given such devoted service that the
health of our country has actually i'm
proved.
6. BY the expansion of State, mu-
nicipal and private construction work
as an aid to employment and by the de-
velopment of an enlarged program OF
Federal construction which has beer
maintained at the rate of 100000 00C
a year throughout the depression. We
have given support to hundreds oi
| thousands of families.
pIJ 10 ~ hn
moratorium and the standstill agree
ment upon external debts of that coun-
try We saved their people from a col
lapse that would have set prairie afire
and possibly have involved all civiliza-
ton itself.
g. We created the National Credit
Association by cooperation of the
bankers of the country, with capital
of S500,000000 which prevented the
failure of thousa nd banks with all the
tragedies to their depositors and bor-
rowers.
g. BY drastic reduction of the ordi-
nary operating expenses of the Fedora
Government, together with the increas-
ing of the revenues of the year 1882
we contributed to balancing the Federal
budget and thus held impregnable the
credit of the United States.
TO- We created the Reconstruction
Finance Corporation originally with
So 600 900, 900 of resources in order that
having maintained national credit, we
should thrust the full resources OF
public credit behind the private credit
of the country and thus re-establish and
maintain private enterprise in an un-
assailable position, that with this back
ing of the Federal credit acting through
existing institutions We might protect
depositors in savings banks, insurance
policy holders. lenders and borrowers ir
building and loan associations, through
banking institutions expand the funds
available for loans to merchants, manu-
facturers, farmers and marketing as.
sociations; that we should protect the
railways from receiverships in order
that in turn railway securities in the
great fiduciary institutions such as in
suranee companies and savings banks
might be protected and score o.
other services performed.
IopdiuO ApencieS Orga nized