Evening star., 1932-11-05

the true causes Of this situation before
the American people, he should with
draw all this multitude Of conflicting,
confusing and misleading statements
and disclose to the American people
that the most tremendous fact in mod
ern history was the great war and its
aftermath. It would be only fair to
point out that the difficulties we are
now struggling with even domestically
in the United States consist to large
degree of the tremendous increase in
public debt, the foreign war debts and
liquidation of war imitation, the neces-
sity to maintain a larger Army and
Navy to protect ourselves in a greatly
disturbed world. This war having
come on during Democratic admins
tration, and they having spent the
money, they should not have forgotten
that the undertakings of that period
are what create a multitude of the
difficulties of this country today. They
ought frankly to recognize the problem
with which the American people are
faced. They should not be appealing
to discomfort on basis that ignores
causes If they wish to find solutions
for the guidance of the American peo-
pie through these times, they should
not continue to ignore these great bur-
dens imposed upon the United States
nor the effect on the world, ourselves
included, by the enormous blotting out
Of lives in foreign nations by the World
War, the fabulous waste Of their prop
erty, the fabulous increase of their
debts, and the fabulous increase of
ornaments, and the continued friction
and hate that have arisen among them
out of harsh treaties.
The Democratic candidate should not
continue to ignore the panicS which
overlook these nations when their citi-
Zens recognized the fact that all prop
erty and material wealth must be re-
adjusted in values from war conse-
quences. He should not overlook the
frantic attempts of their governments
to reduce the expenditures of their peo-
pie by reducing the import of goods
the scramble of their citizens to turn
what property they could into gold:
the ultimate results in dictatorship and
upsetS in governments. He should not
continue to ignore the effect of these
things upon the United States and the
dangers which so accumulated that we
became the last fortress of world eco
non1ic stability, and at one moment we
held even that by the narrowest Of
margins.
Should Recognize Facts.
He should recognize the effect Of the
stoppage Of the import of goods by
these governments, not out of tariff
reprisals to the Hawley-Smo bill,
but out of their public necessity. He
should recognize the effect upon our
credit system of the foreign with
drawal of S2,4O0,OOOOOO of credits and
gold from the United States He should
recognize the fears which these events
produced in our own citizens, causing
them to draw out $1,000, 100000 and
put it into boarding And he should
cease to ignore the fact that We were
faced with a crisis of such dimensions
that unless strong action had been
taken in the passage of bill for which
Democratic members of Congress voted,
with the full knowledge of the facts,
We could not have held the gold
standard.
And he should recognize that unless
We had taken other strong and un-
precedented measures we could not have
prevented the collapse of our insurance
companies, our banks, the foreclosures
on millions of homes and farms, the
strangulation Of credit which would
have brough about almost total unem-
ployment.
1t is true the Democratic members
voted for the measure giving increased
authority to the Federal Reserve Sys-
tenn. creating the Reconstruction Cor
poration. the support of mortgage
banks. and if they did it without
knowledge Of these facts of which they
now appear to be so innocent, they are
an easier group to persuade into legis-
lation than I have hitherto believed.
Thev now fell to admit that these
measures which we have put into mo-
tion have begun to bring about stability
and prosperity in the United States,
of which there is one great word of
proof. That is that since the adjourn
ment Of the Democratic House of Rep
resentatives last July down to the
present moment over 100000 men
have gone back to their normal jobs.
They are going back at the rate of
100000 a month unless they are inter-
cepted by change in policies.
Now all of this statement that I
have given to you has importance in
four respects-first, because it proves
the falsity of the foundation of their
campaign; second, because it shows
their utter confusion of mind, and
either their insincerity or their utter
lack of grasp Of the forces loose in the
world, and consequently the danger of
placing men who have such lack of
penetration into the control Of the
Government CT 120,000,O00 American
people; third, because the continuous
broadcasting of misinformation, al
though it is daily of conflicting char
IN yfvh htr 1nIo
from, indicates an responsibility which
does not promise well for the Govern
ment of these same 120000,O0O people;
fourth. because they should as a re-
sponsible political party cease to appeal
to unthinking people for votes be sed
upon their suffering by misleading them
as to its causes.
A Great Mystery.
Having again disposed of the futile
misrepresentation and evasions of the
origins of this depression and the false
basis OF their appeal, I shall now con-
slider some of their other evasions
which have developed in the campaign.
The Democratic candidate in his
speech Of acceptance says he will leave
no doubt or ambiguity as to where he
stands on any question of moment now
before the country.
Notwithstanding this disarming prom
Use, the people 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. It is certainty that there
will be six doors of exit from this
attractive house, although he refuses to
disclose the other specifications and
the walls have not yet been built.
The people have yet to learn what he
proposes to do in respect to the soldiers
bonus. He seems to think that cash
sum of $4,000, 900, 900 to be paid 13
years hence Is no different from cash,
but he says he intends it should be paid
when there is a surplus in the Treas
ury with which to pay it. That means
a surplus of $4,000, 100000. I assure
the veterans that so long as there is a
Democratic Congress there will never
be q surplus of $4,000, 100000
The people deserve to know more Of
his promise to take 1000, ,000, 900 off
the expenditures Of Government. and