The Republican. [volume] (Oakland, Md.) 1877-current, 1933-03-09
COMPLETE TEXT OF PRESIDENTS INAUGURAL ADDRESS

we would treat the emergency of
war, but at the same time through
this employment accomplishing great
ly needed projects to stimulate and
reorganize the use of our natural
resources.
Hand in hand with this we must
frankly recognize the over-balance of
population in our industrial centers
and, by engaging on national scale
in a redistribution, endeavor to pro-
vide better use of the land for those
best fitted for the land.
Advocates Boost In Values
The task can be helped by definite
efforts to raise the values of agri-
cultural products and with this the
power to purchase the output of our
cities. 1t can be helped by prevent
ing realistically the tragedy of the
growing loss through foreclosure, of
our small homes and farms. 1t can
be helped by insistance that the Fed
eral, state and local governments act
forthwith on the demand that their
cost be drastically reduced. 1t can be
helped by the unifying activities
which today are often scattered, I'M
economical and unequal. 1t can be
helped by national planning for and
supervision of all forms of transpor-
tation and of communications and
other utilities which have a definitely
public character. There are many
ways in which it can be helped, but
it can never be helped merely by
talking about it. We must act and
act quickly.
Finally, in our progress toward
resumption of work we require two
safeguards against a return of the
evils of the old order; there must be
a strict supervision of all banking
and credits and investments; there
must be an end to speculation with
other peoples money, and there must
be provision for an adequate but
sound currency.
These are the lines of attack. l
shall presently urge upon new Con-
gress in special session detailed meas
ures for their fulfillment, and l shall
seek the immediate assistance of the
several states.
International Trade Secondary
Through this program of action we
address ourselves to putting our own
national house in order and making
income balance outgo. Our interna-
tional trade relations though vastly
important, are in point of time and
necessity secondary to the establish
ment of a sound national economy.
l favor as practical policy the put
ting of first things first. l shall spare
no effort to restore world trade by
international economic readjustment,
but the emergency at home can not
wait on that accomplishment.
The basic thought that guides these
specific means Of national recovery is
not the insistence, as first considera-
ton, upon the interdependence of the
various elements in all parts of the
United States-a recognition of the
old and permanently important mani
festation of the American spirit of
the pioneer. 1t is the immediate way.
1t is the strongest assurance that the
recovery will endure.
In the field of world policy would
dedicate this nation to the policy of
the good neighbor-the neighbor who
resolutely respects himself and be-
cause he does so, respects the rights
of others-the neighbor who respects
his obligations and respects the
sanctity of his agreements in and
with a world of neighbors.
People Must Cooperate
If l read the temper of our people
correctly we now realize as we have
never realized before our interdepend
ence on each other; that we can not
merely take but we must give as well,
that if we are to go forward we must
move as a trained and loyal army
willing to sacrifice for the good of
common discipline, because without
such discipline no progress is made,
no leadership becomes effective. We
are, l know, ready and willing to sub
nit our lives and property to such
discipline because it makes possible
a leadership which aims at large
good. This I propose to offer, pledg
ing that the large purpose will bind
upon all as a sacred obligation with
a unity of duty hitherto evoked only
in time of armed strife.
With this pledge taken, l assume
unhesitatingly the leadership of this
great army of our people dedicated to
a disciplined attack upon our common
problems.
Action in this image and to this
end is feasible under the form of
government which we have inherited
from our ancestors. Our Constitu-
ton is so simple and practical that
it is possible always to meet extra
ordinary needs by changes in empha-
sis and arrangement without loss of
essential form. That is why our Con-
stitution system has proved itself the
most superbly enduring political me-
chanism the modern world has pro-
duced. 1t has met every stress Of
vast expansion of territory, of for
eign wars, of bitter internal strife, of