Evening star., 1932-11-01

congress. he cannot get LlllQgS OOne
ping. You know and know that there
In lies the difference between the lead
erShip of the two parties.
You know, and know that the DEM
ocratic party is not satisfied merely
with arresting the present decline, but
that we seek to build up and improve
to put these industries into a position
where their wheels will turn and
where opportunity will be given to them
to re-employ the millions of workers
they have laid off.
1t is net enough merely to stabilize
to lend money! 1t is essential to in
crease purchasing power in order that
goods may be sold. There must be
people capable of buying goods in order
that goods may be manufactured and
sold. When that time comes, under
a new leadership, these same gentle
men will be there doing business as
usual.
The American voter, the American
Workingman, the mill worker of New
England, the miner of the West, the
railroad worker, the farmer and the
White-collar man will answer this silly,
spiteful threat with his ballot on No
vember g.
As have pointed out before in this
campaign, the fruits of this depression,
like the fruits of war, will be gathered
in future generations. 1t is not, my
friends, the pinch of suffering and the
agony of uncertainty that the grown
up people are now feeling that count
the most. it is the heritage that our
children must anticipate that touches
an even more vital spot. But it is not
today alone that counts. Under
nourishment and poor standards of iv-
ing and inadequate medical care of
today will make themselves felt for
so years to come.
I stood in Topeka, Kans, and said
to the farmers that the tragic effects
of Accent wheat, and 9-cent corn, and
Scent cotton is not SO much what the
farmer himself must feel when he sees
the labor of his hands wasted on a
product that does not yield him a
living.
The bitterness of it all is what it
means for his children.
1t is the same for you-you workers
in industry. There are none of us who
do not hope that our children get a
better break than We have habitat
the chance for an education. for rea-
oOLldplC oJdiG Ill llIe, may De JdSSSU OH
to our children, an opportunity for
them that is built out of the hard
work of our own hands. We want
them to have opportunity for profitable
character building wholesome
living-good work and good play. We
want to know somehow that while per-
fection does not come in this world,
we Go try to make things better from
one generation to another.
Poverty Stalks Land.
This depression with its vast unem-
ployment has swept away much of the
material gains that We had hoped to
use. Grim poverty stalks through the
land. 1t embitters the present and
darkens the future.
Against this enemy every ounce of
effort and every necessary penny of
wealth must be raised as a defense.
And. my friends, it is not that we lack
the knowledge of what to do The
tragedy of the past years has been
the failure of those who were RESPONSE
BILE to translate high-sounding plans
into action.
The present leadership in Washing
ton stands convicted, not because it
did not have the means to plan, but
fundamentally because it did not have
the will to do. That is the reason
that the American people on November
8 will register their firm conviction
that this administration has utterly
and entirely failed-failed to meet the
great emergency.
The American people are heart
sick people-"hope deferred maketh the
heart SICK
Tef mo ofor ,,o,, ~ oy,r,,o. ?.
1921 and 1922 there was a depression:
very mild. compared with the present
one. but nevertheless a depression.
There developed large amount of un-
employment. The President of the
United States in September, 1921, call
ed the Presidents Conference on Un-
employment" This conference employ
ed a number of experts, who prepared a
highly competent report. It happens
that this report did not appear until
after the depression was ended 1t
was published in 1923-six years before
the present depression began. 1t said
many sound things. 1t proposed the
control Of credit expansion by the
banks. the prevention Of overexpansion
of industry, the control OF public and
private construction in boom periods
and security against the suffering that
might come from unemployment. 1t
was good report. my friends. Sound
and intelligent people worked on it and
contributed to it.
The chairman Of that unemployment
conference in 1921 was the then Secre-
tary of Commerce of the United States
Secretary Hoover.
Hoover Did Nothing.
The President complains because
have charged that he did nothing for
long time after the depression be-
gan That is true. I add to that
charge that from the time this report
was published in 1928. for the six years
that preceded the crash in 1929, he did
nothing to put into effect the pro-
visions advocated in 1923 against the
possibility of future depression.
Instead of that. he participated in
encouraging speculation, when not only
the sound business brains of the coun-
try we're saying that it should be dis
couraged, but in spite of the fact that
his own report in 1923 said that de-
pressions are certainly in part due te
overspeculation. He failed to prepare
by positive action against the recur-
renee of a depression. On the con-
trary-the exact contrary-he intensi'
| fed the forces that made for depres.
sions by encouraging speculation.
re55st He ~ sM &ss,tT Th3s b Il = ALL M ASl