Evening star., 1933-03-12
BRIGHT
. IN j. s., SAYS 0CHS
Publisher in Full Sympathy
With RooseveIt's Banking
Program.
BY the Associated Press.


WEST PALM BEACH, Fla, March
11.-America is recovering from wild
debauch Of frended finance, crazy
speculation and insensate greed" but
never has the country had brighter
prospects ahead than at present.
Adolph S. Ochs. publisher Of the, New
York Times, said here today on the
eve of his 18th birthday anniversary.
Mr.. Ochs, also the owner Of the Chat
tanooga, Tenn, Times and for 80 years
a member of the board of directors OF
the Associated Press, will spend the day
in quiet observance with his wife ana
Mrs. Arthur Hays Sulzberger, his
daughter.
II am In full sympathy with Presl-
dent Roosevelt's program that only the
Federal Reserve Banks issue currency
and that based on liquid assets OF the
banks. mobilize the god OF the country
and maintain the gold standard" said
the dean Of American newspaper men
TODAY.
There is no need Of gold currency in
this country, and what we have. as we
have plenty, should be held to preserve
our credit throughout the world.
Get Rich Quick Epidemic.
"Never in its history was the United
States so rich, so strong. so powerful
and with brighter prospects ahead than
it Is at present. We have barely
scraped the soil Of our opportunities.
our illimitable resources, our industries
and inventive genius
1--WE are for the present recovering
from wild debauch Of frenzied finance,
crazy speculation and insensate greco.
Everybcdv seems to have lost their
sen-es of the responsibility Of wealth
and a get-rich-quick epidemic swept
thr country.
II think the situation is now well
understood and we are sobering up ana
painfully getting our house In oroer.
The tragic experience we are having
will result in educating the people that
cere."
Caution and conservatism is as neces-
sary in economics as in physical healln,
Mr.. Ochs said
"The Ten Commandments and the
Sermon on the Mount cannot be ig-
nored or forgotten" the publisher de.
clared. land should be our guide and
philosophy Of life.
Other Dcprcssions Recalled.
"Spontaniety and idealism. SO fright
fully dormant, will be awakened for
the peace and comfort Of our children
and If so. 1t will be full compensation
for our tribulations."
Declaring he had lived through other
periods OF economic depression and
then had seen the country "chasteneo
end better for the experience" Mr
Ochs said healthy minded and indus
trtous men of TODAY would gain knowl-
edge and experience that they could
capita lie to their everlasting advan-
tage"
"The world" he said, SIS on the eve
Of astonishing developments in science
and industry The inventions and de-
velopments Of the last rs years will be
far SURPASSED within the next score or
more Of years.
During my lifetime, there has been
introduced and placed in practical op-
eration-to mention on)v some OF the
most important--the Atlantic cable,
electric mower and light. the telephone.
automobiles, radio. wireless. airplanes.
tclevision. manufacture Of steel water.
gas, paper made of wood, the web
printing press. the linotype, stereotyp-
ing reinforced concrete. concrete roads.
"All these and other important de-
velopments in science, surgery and
medicine were unknown when I was
born. All will be further developed in
the next few years.
Mald;stribution Blamed.
II do not believe our trouble lies in
our production, but rather in under
consumption and maldistribution. We
shall cast aside and scrap much that
is now in use to be replaced by new
and more perfect implements for the
convenience and comfort of mankind
and for his remunerative and enlarged
employment So, you see, am an op-
timist on my 18th birthday"
Mr.. Ochs expressed sadness "of the
calamity that has struck Southern Cali
fornia.'
Mr. Ochs was born at Cincinnati,
Ohio, March ~, 1858.