Evening star., 1932-11-04
YOUNG DEPLORES
EMPHASIS ON FEAR
Announces His Unqualified d
Support of Roosevelt
and Garner.
Nv the Associated Press.

BY the Associated Press.
NEW YORK, November 4.-Owen D.
Young, in calling for the election of the
Roosevelt Garner ticket. told a political
rally that Il am not afraid of mobs If
Mr.. Hoover is elected, and I am not
afraid of markets and business If Mr.
Roosevelt is elected"
He also declared that lit is time lib
eral parties came into power to save
conservatives from their own deStruc-
ton and to save the rest of us who are
victims. too"
The prominent industrialist spoke last
night on the same program with the
Governor at a meeting arranged by the
Republicans-for-R Roosevelt League.
He said there had been some mis-
representations of my silence in this
campaign" and added he welcomed the
opportunity OF appearing with the Gov
ernor "and saving what will not be news
to him or to the President of the United
States-that 1 am supporting without
qualification Mr.. Roosevelt and Mr..
Garner"
mo Time for Threats"
let that definite statement" he con-
tinued. END any speculation as to where
I stand"
1t is no time for threats" he said a
few moments later. but the President
of the United States and his supporters
have not heSitated to predict what
would happen to securities and business
II he were not elected
Markets as we'll as mobs respond to
human emotions: markets as well
as mobS can be inflamed to their own
destruction; threats can destroy
business just as they can make bar
ricadeS.
Let no one be afraid-let no one be
coerced directly by threats or indirectly
by advice. We have not reached the
place in this great democracy where
there Is room for either He who uses
them will reap what he soWs.
Has Faith in Future.
IT am happy to say that Gov. Roose-
welt and the Democratic party have not
held up the specter of what might hap
pen by way OF social disturbance if he.
as the representative of the liberal
party, were not elected" Young also
said
Following the war, one of two
courses was open to this country"
Mr.. Young said "One was to retire
into self-satisfied isolation. demand our
debts in full and without ccmpro-
mise. raise prohibitive tariff walls,
refuse to lend our money in for
eign markets and take the consequences
OF an overwhelming surplus of cotton
wheat and meat thrown back on our
farmers, and surplus labor and manu-
featuring facilities thrown back on our
workers. The other was to seek the
maximum development of the worlds
trade and commerce in order that We
as the great creditor Nation of the
world. having the largest stake in its
prosperity, might share in its enlarged
markets.
Time to Call a Halt.
AT this moment I need not speak on
which course would have been the
wiser choice. That is not my point
here. My complaint is that We chose
neither course. but drifted aimlesSly
with the consequences which always
come to opportunist action unanchored
to principle. We permitted our farm
ers to expand their production. We
facilitated, if not encouraged. their 60
ing into debt, all on the theory that
the worlds markets would take their
surplus output. We carried on our
factories and our business on the theory
that there would be a prosperous world
lend money abroad in huge sums for
reconstruction and repair after the raw
ages of the Great War on the assump-
ton that the world would be able to
pay We led III the effort to re-estab
lish the worlds currencies on a gold
basis in order that that necessary in
strument Of all commerce and finance
stable currencies and stable eX-
changes-might exist This, under any
condition We should have done. but
having done all of that. We then turned
about and adopted program of Gre
ating unnecessary barriers in the great
highways of trade. We became peevish
because retaliatOrv action is taken By
others. We wake up to find the whole
world building competitive trade bar
riers, Just as We found it few years
ago building competitive armaments.
We are trying to reduce armaments to
preserve the worlds solvPncy. We shall
have to reduce competitive trade barriers
to preserve the worlds sanity. As be-
tween the two. trade barriers are more
destructive than armamentS and more
threatening to the peace of the world.
1t is time for lis to call halt. and
only a liberal party can do it.
This vaccilation and indecision as
to the policy of this country induced
false prosperity in the tWentleS and
very real catastrophe in the thirtles.
which came near pulling down the
whole economic structure of the world.
We firmly implanted ourselves on both
horns of this dilemma and we have i'm
paled the whole world on both horns
too And having done so We now ac-
cuse our lenders of stupidity and our
bankers of cupidity in the effort to dis
g1IiSe the real responsibility.
Pays Respects to Threats.
with the currencies abroad broken,
with our own economic machinery
threatened and endangered. with debts
both domestic and foreign in every land
crushing their people. it is time that
liberal parties came into power to save
conservatives from their own destruc-
ton and to save the rest of us who are
victims. too.
Not until then will our surplus cot
ton move from the plantations of the
South-not until then will our surplus
grain and wheat move from the farms
of the North-not until then will our
surplus manufactures move from the
factories of the c0untry-and not until
then will our surplus of labor and OF
commodities which now economically
crush us disappear. 1t is the restora-
ton Of trade alone which holds not
only the economic but the social saliva
ton of the World.
And so, Mr.. Chairman, in this cleo
ton l hope America chastened by dis
aster, suffering as she is, will rise to
that liberal leadership which will re-
place suspicion with confidence and
which never IS afraid.
And speaking of being afraid let me
pay my respects to the threats, ex-
pressed or implied, which are now being
used to influence our votes
There are more than ten millions of
people out OF work IN this country.
Some of them are in want, others are
threatened with it. Many have lost
their homes on mortgaged foreclosures,
others are threatened. Many have lost
their farms. And so we have millions