Evening star., 1932-11-05
PRESIDENT SPEAKS
Il TIMES TODAY
Moves Across Illinois and
Wisconsin En- Route to
St. Paul Rally.
CONTINUED From First Page.)

Continued From First Page)
other. will not accept the proposal for
outright repeal of the eighteenth
amendment, with the consequent return
OF the saloon and its resultant lack of
protection to dry States
AS examples of what he called "the
great constructive measures of the ad-
ministration," Mr.. Hoover told for the
first time his story of the loan by the
Reconstruction Corporation to the
Dawes bank Of Chicago and his ne
gotiation of the one-year moratorium
en- war debts
The constant Misrepresentation OF
this episode for political purposes by
Democratic politicians is SANDER upon
men of their own party as we'll as a
cruel injustice to Gen. Dawes" the
President said with reference to the
Dawes bank loan
Tells Story of Run.
Dawes bank and the quick investiga-
sound but not Immediately saleable for
cash.
The inquiry showed, he said, that Of
the l22 900 depositors los, 900 were saw
ings depositors and that their average
savings were only S140 cash. Drawing
a picture of intertwined banking connec-
tions, the President said 755 country
banks had commercial deposits in the
Dawes institution and that these banks
had 6,500,000 depositors, including d.
900 other banks with 100000 900 deposit
tors. The Reconstruction Corporation
loans. he said ended the panic.
Do,r ha Drociiopt cold aknou- nd
appreciated the use that would be made
In this campaign Of such calumny" and
said he would not ask for assistance.
Mr.. Hoover said the action was finally
taken on the insistence "of the two
Democratic members of the Reconstruc-
tion Board and the leading Democratic
banker of Chicago who was then men,
toned as a candidate for the presi-
dency" and others.
Mr.. Hoover said that the Reconstruc-
ton Finance Corporation had inter-
vened to save banks in 5000 towns Of
$4,000 population or less. He added lit
Is not burden upon the taxpayer. But
it is the salvation of millions Of jobs
TO men and women"
Defends Moratorium.
After telling of the historic negotia-
tions which led up to the moratorium
proposal, the President said
Il know that the proposal OF the mo-
Satorium diverted the entire current OF
thought and changed the history Of
what otherwise would have been a
tragedy to the whole OF civilization"
At the very outset of his address the
President said the Democratic cam
paign is mot campaign of issues; it
Is a campaign of avoidances,"
trn
1880 down to the present moment the
strategy of the Democratic party" he
said, has been an effort to implant in
the unthinking mind through deliber-
ate Misrepresentation the colossal false
hood that the Republican party is re-
sponsible for this worldwide catas-
trophe.
The candidates have sought con-
stantly to dlstort the facts as to the de-
preston; they have sought to minimize
+ the measures by which the administra
ton saved the United States from a
generation Of chaos"
Turning to the tariff, the President
said he had established the complete
absurdity" of Gov. Roosevelt's argument
and that as result the Democratic
candidate had uttered confused
charges and contradictory statements"
Mr.. Hoover said that although Roose-
welt said he would leave no doubt or
ambiguity as to where he stands on
any question of moment now before the
country, the people of the country are
still unable to find the method by which
he will execute his six-point program
for farm relief"
1T is one of the great mysteries of
this campaign" the President added.
The Chief Executive then listed what
he called other "evasions" by the Demo-
cratic candidate, including:
What he proposes to do in respect to
the soldiers bonus
Whether he repudates the Demo-
cratic proposals for S3,500,000,0 900 addi-
tionql expenditures in the last session
OF Congress"
whether, as he proposes to negotiate
reciprocal tariffs he will omit the agri-
cultural commodities from these agree
nents"
Whether he will support or repudiate
Messrs. Wheeler, Norris, Huey Long, w.
r. Hearst and others in their long
continued efforts to put Government in
large business undertakings"
whether he has accepted the pro-
posal of his supporter, William r.
Hearst, for $4,000 100000 bond issue"
ST. PAUL PLANS RALLY.