Evening star., 1932-10-07
BY the Associated Press.

yesterday to luncheon meetings Of the
Roosevelt Business and Professional
Mems League, held throughout the
country:
I am glad to have this opportunity
of speaking to luncheOns In many parts
Of the United States of the Roosevelt
Business and Professional Mems League
I have heartily welcomed the support
of your organizations. You represent
a very large group Of the thoughtful
business and professional men through
out the Nation.
You represent a liberal and under
standing point of view toward the re-
lationship of business and government
and you include in your membership all
political parties.
It sometimes has been said that 1t
takes a great national crisis to rouse
the interest Of business men in the af-
fairs of government-but do not be-
lieve that this is any more true Of bust
ness men than 1t is of any other occu-
patton or profession in the country. II
is, however, undoubtedly true that fol-
many years Republican leaders have
been able by asSiduous advertising to
persuade large percentage Of business
men that their best interests lay In the
success of the Republican party.
G. O. p. Leadership Attacked.
It is needless for me 20 point out that
the events of the past three years have
proven to very many of these same
business men that the Republican lead
ershlp is by no means proof against un-
sound economics resulting in disastrous
speculation and subsequent ruin. Fur
thermore, this same leadership has been
unable to do more than put temporary
patches on a leaking roof without any
attempt to put a new roof on our eco
nomic structure. And you all know
that a roof that has to be mended in
some new place after every rain won't
last long, but must be rebuilt as quickly
as possible. And business men in every
part Of the country have learned this
other lesson from the depression: That
an artificial, overstimulated business
boom is an unsound menace, especially
II 1t affects only one portion of the
population, while other portions Of our
population are getting poorer and
poorer. That is why have so greatly
stressed the necessity Of restoring pros
perity to our agricultural interests, to
our cattle interests, to our mining in
terests, as an essential adjunct to re-
storing general business prosperity.
This doctrine I have been preaching
ever since the day was nominated,
and am happy that the President in
his speech on Tuesday finally has come
to agree with me on this point when
he says every thinking citizen knows
that the farmer, the worker and the
business man are in the same boat
and must all come to shore together VI
I am glad also that he thereby ad-
mits that the farmer, the worker and
the business man are now all of them
very much at sea!
I have just returned from visit to
a score of the States Of the Nation.
made this trip primarily to learn at first
in the various sections of the country.
I took occasion to explain various as
poets Of the program which I propose
as chart to guide my administration
If I am elected President.
Back in April in discussing certain
questions I used the term to describe
my policy-not a new term, but one
which had historic standing-"a concert
Of interests" I have conceived 1t to
be a necessity in the present state Of
affairs to keep this constantly in mind.
Cites Belated Promises.
To do otherwise Is to go from group
to group in the country, promising
temporary and oftentimes inexpedient
things. 1t is to go to the farmers and
promise them something and to the
business men and promise them another
thing. In fact, we have had an ex-
cellent example recently of belated
promises addressed specifically to a
group in the hope that with some new
temporary expedient, suggested month
before election, the minds OF farmers
may be turned away from the grim
fact of a consistently unfriendly atti-
tude on the part of the administration
over many years. This type OF cam
paigning, which might be called q PORK
barrel' campaign, Is not my notion OF
what the country needs in a time nke
this. 1t Is my profound conNctlon tnat
the Democratic candidates are to be IN
trusted with the administration OF gov
ernment at the coming election. Inefe
will be high responsibility and I am
not going to enter upon that RESPONSE
bility without charting a course SUI
ficiently broad and deep to make certain
a successful voyage I am not going
to confuse the long view by small items
of temporary expediency. Hence !
have described the entire compass OF
nv policy as a concert Of interests
and South, East and West
industry, mining, commerce
and finance. s ,
With this broad purpose in mlno, !
have further described the spirit OF my
program as new deal, wnlcn Is
plain English for changed concept OF
the duty and responsibility Of govern
ment toward economic life. Into tpls
general plan and actuated by this splilt,
I have been setting the details OF the
program intended to right speclnc
troubles of specific groups without. at
the same time, inf1icting hardships upon
other groups. Above all, my program
has looked to the long view. intendlhg
to see that the factors that brought
about our present condition may not
occur again.
Use Of Credit Ungeverned.
The central fact of our economic life
is it's failure to see beyond the barriers
of immediate concerns. Perhaps IL ls
too strong a word to call this 1gno-
rance-but it certainly means that we
do not know enough about ways to pro-
duce and we do not know enough about
ways of keeping on producing. Win
the most efiicient system Of industry
ever devised, our country has been
brought to the point of reducing It's
output by one-half while most OF US
sit around and look at each other In
bewilderment and indecision. We need
to know how to keep on working. II we
can learn this, and believe we can,
all other problems can be solved WIN
ease
The theory upon which We have been
proceeding for 10 years Is shocking
impossibility; it is that goods can be
produced which cannot be bought.
There were two unusual features that
characterized business during our late
decade of prosperity. First, great strides
toward productive efficiency were made.
Second, the goods produced by this
efficiency were in large part being pur-
chased on credit. Credit is, Of course,
necessity to business. But today we
know that our recent use of credit was
ungoverned and unmeasured. To re-
duce it to homely terms, people incurred
more debts than they could safely carry
and the incurrence of this debt en-