Milford chronicle., 1933-08-25

had but two dependents, making a
total of Sc million persons with
practically no purchasing ability.
There has never been a lack OF
ability on the part of manufacturers
to make products. but l am sure you
agree with me that it is futile to be
able to make products if the people
have not the money to buy them.
at was not so long ago that we
all heard the advocacy of "living
wage" After the war the demand
schooling here. Before being ap-
was for Saving wage" In the
last four years we have witnessed a
large percentage of our population
reduced to an "existing wage"
"Curtailed income was reflected in
curtailed buying, and that, in turn,
was reflected in curtailed produc-
tiOn. The vicious circle did not stop
there, it continued on to where saw
ings deposits in banks were ma
terially lowered. This, in turn,
meant that money for mortgages,
money for the conduct of business,
and money for the expansion of new
businesses was not available.
I'm the late winter of last year, 1
received a telegram from President
Hoover, asking if 1 could be present
at the White House the following
morning, at a conference he had
called of the presidents of natiopal
organizations.
"T annraoiatad NV COLL ,yay mt q
personal one, but because 1 hap
pened to be president of the Ma
tional Secretaries Association.
"As the President came into the
Cabinet Room, where some twenty
persons, including Mr.. Green presi-
dent of the American Federation of
Labor, the president of the Chamber
of Commerce of the United States, |
and the president of the American
Bankers Association were gathered,
one was startled with his appear /
ance. His face was drawn and gray
ish, his eyes looked tired and his |
shoulders were stopped. His open !
ing words were:
Gentlemen our country is on the /
brink of national disaster"
Zone could not help but appreciate
with these ominous words, that here
was a man whose every sincere eff
'oTt had been thwarted, whose fears
for future Of our nation were dark
est, who had witnessed every effort
be had made prove unsuccessful.
"As | left the meeting, some two
hours later, I could not help but feel
hat the. President had called this
,rOup together for the purpose of
his heart and mind,
md sharing with his fellow country
nen the misery he then was under
,oing.
"Since that date. l have watched
very closely the developments in our
rational government.
without attempting to appear par
isan, it must be admitted that the
'eople of the nation had, in a large
egree, by circumstances beyond
heir control, lost a great measure
f self respect and faith in our
american institutions which four
ears of hopeless and almost help {
ess inaction had all but destroyed. /
"In fairness to Mr.. Hoover, it ought (
} be said that, in the latter days of
is administration, had he proposed ;
s soccialistic legislation as is |
resident Roosevelt's National In I
ustrial Recovery Act, it could never
ave passed Congress. I
"The Act itself is revolutionary to 6
merican concepts of Government. c
There is no need to deceive our I
elves. The figures are convincing /
lere is not room for argument. {
"This government cannot continue [
, feed the millions of people now
4 the charity list without going in h
bankruptcy nationally and locally.
"The facts from whihc this vonclu- II
on is deduced are as clear as the
)onday sun. And if we have bank II
lptcy and stop feeding the hungry t,
)rds, then revolution and chaos
are us in the face with equal GER C.
inty. n