Milford chronicle. [volume] (Milford, Del.) 1878-1974, 1932-03-11
HOOVER SUMMONS
ALL TO WAR ON
HOARDED RICHES
ICertinnei from FhA Pagel

livery through his committee of an
anti-hoardmg instrument i'm the
shape of an unlimited baby bond
issue by the Treasury in denomina-
tiOns as low rs $50, paying per
cent and rStiSsm0hle upon 60 days
notice. Knox said,
Tonight after three weeks of in
tenSive effort more than 1900 COM
. munitieS eompriSiug nearly the en-
tire urban population OF the United
States await the starting gun. The
quest is to find the hidden dollar
and to urge its unemployment as
part OF the working capital of the
country.
Most emphatic0lly the drive to
be launched is not 4 drive to sell
, government bonds. 1t is, however,
broadly speaking, Il nationwide
campaign to put money back to
work. We have organized national
employment agency to find jobs for
idle dollars. We do not care what
the job is so long as the dollar goes
back to work.
After the President spoke, follow
ed. The three remaining speakers
stood before the microphones of both
major broadcasting system, placed
in the Willard Hotel.
Secretary Mills endorsed unequiy-
Ocally the campaign of the Citizens
Reconstruction Organization. Detail
ing the governments effort to re-
lieve credit strain he added that the
real task of reconstruction must be
undertaken by the people them
selves.
THE time has come when we can
appeal to them to take such steps
to help themselves as are definitely
within their power" he said.
The treasury chief asserted that !
boarding could be accounted major |
factor "in the inability of our bank !
ing system to function fully in this !
emergency and has in fact been one !
of the primary causes of the later |
phases of the business depression.
Senator Robinson declared fiat his |
belief that recovery cannot be ac- |
cOmplised until the huge volume of |
money now stored in mattresses, and |
safety deposit boxes has been re-
stored to circulation. He named va
rious safe investments" such as real |
estate and some types of bonds, but |
urged most strongly the purchase of |
government securities.
Sees Money Essential TO Win
1--WE are now at war with subtle
forces more cunning and destructive
than foes armed with deadly in
struments of modern warfare, the
Senator said Just as money was
necessary for victory in 1918, so it is
essential in the present economic
war. There is perhaps an abundance
of money if the funds now out of use
and hidden could be restored to cir
culation"
Dawes pointed an oral finger di-
rectly at those whose money has
been withdrawn from banks or i'll
vestments and held i'll the shape of
currency.
mo matter whether you have now
in your possession ten dollars or ten
thousand dollars i'll coin or cur
rency", Dawes said, you, and others
like you, combined, possess about
one billion dollars of boarded money |
and belong to a most powerful finan-
cial group upon whose actions, in
of the Presidents call,
largely depends the return of pros
perity to the United States.
"As long as this currency is out
of circulation we must remain as a
people for an indefinite time under
the terrible haTdShipS of an unpre-
cedented business, industrial and
stagnation with all its
human misery.
President Hoover's address set the
keynote for those that were to fol-
low. He declared that every hoard
ed dollar deprives some wage Garner
Of some part of his pay.