The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-03-04
Drastic Action Intimated,
in Ringing Address at
Inauguration.
FLAWS MONEY CHANGER
End to Speculation With
Other Peoples Cash
Is DeCreed.
EyT nitcd Press

ny [ NiftN IftNN
THE CAPITOL, WASH
INGTON, March 4.-Presi-
dent Franklin d. Roosevelt to-
day struck out for immediate
and drastic action, if neces-
sary, to handle the economic
crisis confronting the country.
In his inaugural address. delivered
before thousands Of spectators mass
ing the broad plaza of the Capitol
building, he declared that if nee
essary he would go so far as to ask
congress for the broad executive
power to wage war against an
emergency as great as the power
that would be given me if we we're
in fact invaded by foreign foe
The Presidents inaugural address,
brief but sharply serious in the face
of the difficulties confronting him.
handled the financial situation Of
the country fearlessly
Demands Bank Supervision
practices of the unScrupulOus
money changers stand indicted in
the court of public opinion. he de-
clared and then set forth his lines
of attack.
l. There must be a strict super
vision of all banking and credits
and investments.
2. There must be an end to spec
ulation with other peoples money.
8. There must be provisions for
an adequate but sound currency
Detailed measures for fulflllment
of this program he said he would
urge upon the new congress and
ask the immediate assistance of the
several states.
Would Ask Broad Powers
If congress refuses to put through
measures deemed necessary. Mr..
Roosevelt said. he then would seek
the broad emergency powers he had
referred to.
He said however, that he hoped
the normal balance between the
executive and legislative authority
might be adequate.
Il am certain that my fellow
Americans expect that on my in
duction into the presidency 1 Will
address them with a candOr and a
decision which the present situation
Of our nation impels," he began.
This is re-eminently the time to
speak the truth, the whole truth,
frankly and boldly
Nor need we shrink from hon
estly facing conditions in our cOun-
try today This great nation will
endure as it has endured. will re-
vive and viii prosper. So first Of all,
let me assert my firm belief that
the only thing we have to fear is
fear itself - nanleless, unreasoning,
unjustihed terror, which paralyzes
needed efforts to convert retreat
into advance
In every dark hour Of our ma
tional life, a leadership of frank
ness and vigor has met with that
understanding and support Of the
people themselves which is essential
to victory. I am convinced that
you again will give that support to
leadership in these critical days
Realities Are Faced
In such spirit on my part and
on yours, we face our common diff
flculties They concern, thank God.
only material things. Values have
shrunken to fantastic levels; taxes
have risen; our ability to pay has
fallen; government Of all kinds is
faced by serious curtailment of in
come; the means Of exchange are
frozen in the currents Of trade; the
Withered leaves Of industrial enter
prise lie on every side; farmers find
no markets for their produce the
savings Of many years in thousands
Of families are gone.
More important a host Of I'M
employed citizens face the grim
problem Of existence, and an equal
ly great number toll with little re-
turn Only foolish optimist can
deny the dark realities of the mo-
ment
Yet our distress comes from no
failure Of substance. We are strick-
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