Evening star., 1933-05-08
ROOSEVELT SPEECH
HA|[EDBY LEADERS
Steps to Increase Wages
Listed as a Next Objective
in Domestic Program.

in Domestic Program.
CONTINUED From First Page)
direction. That Is why powers are being
II necessary, for an enlargement Of
credit. in order to correct the existing
wrong"
As for o supervision Of agriculture
about to be given him by Congress, he
said, "The extent of its use will depend
entirely upon what the future has in
store"
Explains Gold Embargo.
Regarding the gold embargo and the
recent refusal to make gold payments
on Government bonds, he said series
Of conditions arose recently which
might have meant q drain on the gold
supply by foreign countries and q re-
sulting flight Of American capital out
Of the country.
"Gold. and to partial extent silver"
he declared, "are perfectly good bases
for currency, and that is why de-
ClOcQ LUJ " lCt 6lly Va tllC 6OIO INV
In the country 60 out Of It,"
Addressing the people as my friends, {"
the President went over thoroughly the
actions he has taken in his two months
in the White House and emphasized
that these had resulted In no surrender
of power by Congress, but rather q
delegation Of himself as the agent Of
Congress to put an emergency program
into effect.
I'VE are working toward a definite
goal" the Chief Executive explained,
which is to prevent the return of con-
ditions which came very close to de-
stroying what we call modern civiliza-
ton. The actual accomplishment OF
our purpose cannot be attained In a
day. Our policies are wholly within
purposes for which our American con-
stitutional government was established
P150 years ago.
II know that the people Of this coun-
try will understand this and will also
understand the spirit in which we are
undertaking this policy.
High Average Sought.
II do not deny that We may make
mistakes of procedure as We carry out
the policy. I have no expectation Of
making hit every time come to bat.
What seek Is the highest possible
batting average. not only for myself
but for the team. Theodore Roosevelt
once said to me: If can be right rs
per cent of the time shall come up
to the fullest measure Of my hopes
Asserting that two months ago "the
country was dying by inches" Mr..
Roosevelt said that today we have
reason to believe" that things are bet
ter.
Industry has picked up." he said.
railroads are carrying more sfreight.
farm prices are better. but am not
going to indulge in issuing proclama-
tions Of over enthusiastic assurance"
The President made no reference in
his talk to the proposed banking re-
form legislation nor to war debts. Nor
did he refer to the disputed 30-hour
work week bill.
As for his policies, he said, it was
wholly wrong to describe them as
control Of industry. agriculture and
railroads asserting they were rather
a partnership in planning and a part
nership to see that the plans are car
ried out"
Drain on Gold Supply.
As for the gold embargo and the
country's departure from the gold
standard. he said a situation developed
three weeks ago resulting in a drain
on the national gold supply by foreign
flight of American capital from the
country,
Asserting this might have resulted in
panic and the complete stoppage of
the wheels of industry and that gold
Is required as basis for currency, he
declared:
Il decided not to let any Of the gold
now In the country get out Of it."
The administration has the definite
objective" he explained. "of raising
commodity prices to such an extent
will, on the average. be able to repay
that money in the same kind of dollar
which they borrowed. We do not seek
to let them get such a cheap dollar
that they will be able to pay back q
great deal less than they borrowed.
In other words. We seek to correct
a wrong and not to create another
wrong in the opposite direction. That
Is why powers are being given to the
administration to provide, if necessary,
for an enlargement of credit, in order
to correct the existing wrong.
These powers will be used when, as
plish the purpose"
Discusses Domestic Program.
Going over his domestic program, he
pointed to an early public works bill
| designed to stimulate directly and in
directly the employment Of many others
in well-considered projects"
The industrial supervision measure
now taking shape. he said. would be
well considered and conservative"
Telling of his entry into the White
House two months ago, the President
said, I'VE were facing serious prob
lems-the country was dying by inches. y
He added:
THE situation in that crisis did not
call for any complicated consideration
of economic panaceas or fancy plans.
We were faced by q condition and not
theory"
Lauding Congress for its support OF
him In the emergency, he insisted there
had been no surrender of power.
''The function OF Congress" he said.
'is to decide what has to be done and
to select the appropriate agency to carry
out its will. This policy it has strictly
adhered to. The only thing that has
been happening has been to designate
the President as the agency to carry
gress. This was constitutional and in
keeu.ng with the past American tradi-
tion'
Singer Sends ''Biessirgx"
Among the hundreds Of congratula-
tory kilograms received at the White
House was one from the Nassau County
Republicans" Of Nassau County, N. Y,
saying, "Do not alter your course"
From Hollywood, Calf, John Nc
Cormack, the singer, sent his bless
ings" and his thanks for your inspiring
address"