Evening star., 1933-07-05

it is the duty of Uncle Sam to see that
the money of its citizens is placed in safe
| banks, where it can at all times be
obtained by the depositors' checks
upon it. 1t is a tremendous step in
the right direction and will prevent
privation and want coming to those
who have entrusted their accumula-
tions to banks.
Under the banking act modified
form of branch banking was also estab-
liShed. This was greatly objected to
by many, but Uncle Sam came 10 the
conclusion that even branch banks
which are sound and solid are better
than independent local banking units
which constantly fail with great losses
to depositors and causing such great
distress to them.
| President Roosevelt also recommended
an economy measure. which has been
of the greatest Importance to the Ma
ton 1t temporarily reduced the salaries
of all employees. This was most regret
table, but absolutely necessary. 1t per-
mitted Government bureaus and COM
missions to be consolidated or abol-
ished at greatly reduced eX-
pense 1t gave the President the right
to reduce and to do away with subsidies
and bounties-all to the end that the
Governments own financial structure
should be put on safe and sound
basis-a basis that requires in the
future that the Government should not
spend more than It collects in taxes
from the people. Our Federal income
from taxes had dropped from S5,5OO,-
OOO. 900 in round numbers to $2,2O0,-
900 900 in round numbers. We had to
cut down cur expenses. I'had preached
this doctrine of economy all during
the depression, and, of course, was de-
lighted with the Presidents recUm-
mendationS.
NV friends, there were some mistakes
made in some of these general economy
measures-notably, some or the eH-
service men were cut too much, but tEe
Congress and the President have already
remedied that mistake in part, they haV-
ing increased the disabled eX-SerVlce
mems compensation more than $780,
coo 900 over that fixed by Gen. Hines,
and in due time Uncle Sam will cor
rect every injustice.
Don't let us bother too much about
mistakes. Mistakes must necessarily be
made. but Uncle Sam will see to It
that such mistakes will be few and lar
between and promptly remedied.
But many of our people were without
food and clothing, and the President
lief act Five hundred million dollars
were authorized to be leaned the States
for this humane purpose. This was
promptly passed.
Next President Roosevelt directed
that the farm situation be promptly
dealt with. and not only were measures
enacted which tended to raise the prices
of farm products, but measures were
enacted by which those who owned
| g. -, o0f fhpYo lInHpr
the hammer because of this depression.
Likewise, at the request of President
Roosevelt. a workable amendment to
the home loan mortgage bill was passed
and is now being put into operation,
which measure will save the mortgaged
homes of the people in this emergency.
In other words, Uncle Sam took hold
firmly and vigorously of two OF the most
important propositions right at the
flrst-homes and farms What could
be more important OF more timely
than the saving OF the homes and the
farms of the Nation?
Relief for Unemployed.
Then came relief for those who were
unemployed. The refOrestration act
was recommended by the President and
passed by the Congress. by which
measure hundreds of thousands OF
young men in the country were given
honest and honorable employment, and
the general condition of the country
was benefited 1 am Informed that
25O,OOO young men are employed in
this project now.
A great public works program was
next recommended by the President
and instituted by the Congress. with an
authorized appropriation OF S4O0 ,0CO,
so as to relieve further the horrible
unemployment which exists among our
people.
The idea of Uncle Sam was. and is,
that II we can put men and women
back to work SO that they can earn an
honest livelihood. normal conditions
elixir of life Work. at a living wage
for all of our people, will solve all OF
our economic problems.
In furtherance of these general plans
to relieve unemployment. the Muscle
Shoals project. already largely built at
Mu-cle Shoals. but not even begun at
Cove Greek Dam and other dam sites
on the Tennessee River. was recon-
mended by the President and authorized
by Congress to be finished, and thus
was announced vast improvement in
the Tennessee Valley.
1t is a project thai has probably been
nearer to my heart than any other for
nearly 90 years. and its authorization
made me supremely happy, for it is
wonderful thing for the people of
Tennessee and adjoining States.
And to those Tennesseans who are
listening to me tonight, I want to say
that, in my Judgment, it Is one of the
greatest benefits that Uncle Sam has
ever bestowed upon a people, and I
want every one of you I'd be grateful
. 10, Mo nj fnr q
l am grateful.
And then President Roosevelt recon-
mended and the Congress passed, what
is known as the industrial recovery act,
by which more than three billions of do
lars were authorized to be used to aid IN
industrial recovery, and this project is
rapidly being put into action. Many
thought this was revolutionary
measure, and, frankly, it iS-but, my
friends. We were in precariOus and
frightful condition in this country: and
we had to go the very limit under our
constitutional powers in order to bring
about a recovery. and that is what
Uncle Sam is proposing in the indus
trial recovery act. Industrial recovery
is vitally necessary in order to put
men and women back to work, and to
bring about a restoration of prosperity
and happiness among our people.
OF course. objections arise to the
industrial recovery act. To carry it
out We permitted the President to Sus-
pend the antitrust laws, but it had to
be done to make the recovery act a sue
cess. This Is extremely unfortunate, and
Uncle Sam provided that these anti
| trust laws should be suspended for a
period of only two years. We all know
that the suspension of these ordinarily
most necessary laws will be done away
with as soon as possible. 1t was one
of tho, many great questions that gave