Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-10-20

enterprises, that is, for improvements
which will pay for themselves out of
their earnings in operation. These
loans will furnish employment. A
considerable part of the loans to rail-
roads were for employment and con-
struction purposes. And even the
loans to banks have kept bank en-
ployes at work in addition to keeping
money in circulation or available for
use.
Insurance statistics show that S.
100000 of our population are either
insured or protected as beneficiaries
by life and accident insurance, while
practically everyone is protected by
fire and tornado insurance, and many
by auto, burglar, fidelity, and other
forms of insurance. These insurance
companies invest their funds in bank
stocks, railroad bonds, utility bonds.
farm and home mortgages. Anything
which stabilizeS the value of those
securities protects our insurance.
Anything which stabilizes our rail-
roads protects our transportation and
our markets. Anything which stabil-
ICES our banks and financial institu-
tiOns stabilizes and protects our
credit and the purchasing power of
our customers.
This is HOover's way of restoring
confidence, employment and ultimate
prosperity. Roosevelt's way would be
by helping the so-called forgotten
man" by starting at the bottom in
stead of at the top but he hasn't told
us how. If we were building a new
country or an entirely new financial
system, the bottom would be the nat
ural, logical and wise place to start.
But we are merely repairing an old
system, an old house as it were
Would anyone plaster and otherwise
redecorate an old house with holes
still i'm the roof Surely not He
would first patch the roof. That is
just what Hoover is doing in STABILIZE
ing our railroads, our banks, our in
Surance. Even Governor Roosevelt
now approves the loans to railroads.
although at first he criticised them.
But nobody knows yet where ROOse-
welt stands with reference to any
other of these agencies designed to
stimulate credit, employment, and
better times. No one yet knows
whether he would continue HoOvers
efforts to overcome the depression in
this way or would suggest some new
and untried experiment. Uncertainty
is the most disturbing factor in bust
ness and finance. The fear of change
is what is holding recovery back right
now. If Hoover is elected. we may
confidently expect continued and de-
clded recovery. If Roosevelt is
elected, we will have and must ex-
pect a further period of uncertainty,
until he is inaugurated next March
and thereafter until he can get his
new plans. if he has any and his
speeches so far fail to disclose any,
through the Congress and in action.
1t seems to me that we will have to
mark time just about a year at best
if he is elected.
True the Democrats did suggest a
general sales tax, but Garner couldn't
even hold the Democratic house in
line for that. Lower tariffs are sug-
gested, but two-thirds of our imports
now come in free And who in Pine
county wants a lower tariff on butter
fat, oleomargarine, potatoes, or ruta-
bagas? Garner wanted to erect some
1900 pOstOffices in most towns of the
size of Sandstone and Pine City at a
minimum cost of $4,000 each. Few,
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