The Waterbury Democrat., 1934-10-25
President Urges Banks ToRenew
 Confidence Ln People OfAmenca
Proposes Organisation Of An Alliance Ar "AIL-
 American 1eanl" With Labor-C Capital Business Banking, Agriculture Industry In Harmony

President Roosevelt's address last evening before the American Bankers Association in Wash ingtOn, D. C., was as follows:
 am glad to be here tonight at your invitation to speak to you informally about some of our common ploblems.
 As many of you know by per- sonal experience, it is not a new thing for me to talk with bank CTS. I have been seeing many of your number almost daily during the past year and a half, and let me make it quite clear that in these meetings I have not done all the talking.
 have been a good listener and l have asked many qnes- tions. have found there is the striking lack of unanimity of opinion among bankers that characterizes many other groups in the country.
 It has been my purpose to seek out underlying agreement in the opinions that bankers have expressed.
 A true function of the head of the government of the United States is to find among many discordant elements that unity of purpose that is best for the nation as whole. This is necse- sary because government is not merely one of many coordinate groups in the community or the nation, but government is essen tially the outward expression of the unity and the leadership of all groups.
 Government Leader
 Consequently, the old falla- cious notion of the bankeRs on the one side and the government on the other as more or less equal and independent units has passed away. Government by the necessity of things must be the leader, must be the judge of the conflicting interests of all groups in the community, including bankers. The government is the outward expression of the com mon life of all citizens.
 What is the bank and what are it's relations with the people? Why do the people through their government supervise banks? The people put their money into banks. They do this in order to protect it and in some cases to have it earn a small in- come.
 It costs money to provide this service and, therefore the banks are permitted to invest these de- posits in order to pay their ex- penses and to provide a reason able profit to their stockholders.
 The public has no means of knowing whether the bank is making safe investments, so it turns to its government to super wise the bank. Government has accepted this responsibility.
 Public Confidence
 In its relation with bankers, the purpose of government should be threefold. First, to promote the confidence of the people in banks and banking in view of the important service that banks and banking may perform for the people as a whole. Second, to make this confidence real and living thing by assisting banks to rem der themselves useful and worthy of this confidence through wise supervision.
 A third purpose now offers it. self, and wish with all earnest ness to press this point tonight. Government should assert it's leadership in encouraging not only the confidence of the people in banks, but the concerne of the banks in the people.
 In March, 1883, I asked the people of this country to renew their confidence in banks. They took me at my word. Tonight I ask the bankers of this country to renew their confidence in the people of this country. l hope you will take me at my word.