The Waterbury Democrat., 1934-09-17

put a stop to the wild speculation of the past;
 The acts regulating the issuance of securities, providing for the in vestor information essential to any intelligent appraisal of the value of securities.
 Build Up Treaty Navy
 In the field of national defense we have not been idle. Under the Vinson bill we are building up a treaty navy, and we are moderniz- ing the army under the emergency appropriations Nor have we neg lected the field of foreign relations. The announcement by the presi- dent of our new policy of nom intervention, and the withdrawal of our troops from Haiti; the rec ognition of Russia; and the negotiation of reciprocal trade treaties with our neighbors, now in progress, all have promoted the cause of peace.
 We are proud of this record of our party under the president s leadership. We must not, however,
 rest on what we have accomplish i ed. The measures enumerated, and
 all the others passed by the last
 congress. were parts of a unified program.
 That program has three. pur- poses:
 First, the relief of those in need; i; Second, the recovery of industry and agriculture from this depres- sion, and
 Third, the planning of our na- | tional life to eliminate so far as | humanly possible the causes Of that depression.
 Relief Is Adequate We have come a long way to- | ward realizing our first two
 objectives. Relief has been ade- quate, in spite of the enormity of
 the task, and more than four mill
 lion formerly unemployed are back at work. The banks are safe and
 the deposits of the people are se-
 cure. The prices of farm products and of the products of industry
 have increased until they more nearly approach the balance of normal times. The home owner and farmer are more secure in the ownership of their m e and farms.
 But we must not stop here. Ac- tion is necessary to hold what we
 have already gained, and to con- ltinue the improvement of condi- tions. Our opponents would have us repudiate the leadership of the
 president, under which we have
 come so far, and return to the
 inaction which has characterized the republican party both in state and nation. It was this inaction which allowed us all to be ex- plotted in the wild wave of specu- lation and swindling which pre- ceded the crash, and this inaction would return us to the depths of the depression.
 Party Provided Action Action was needed in March, 1883. and our party provided con- structive action. With continued action still needed, we offer the people of this country a program of action under the capable lead- ership of Roosevelt while the op- position, attacking this program,
 offers nothing in substitution. We are frank to admit that some of
 the measures we apply may not
 work out. But if they do not work l out they VIII Ut dll6F0u, OT OLuSr measures will be substituted in
 their place. We do not admit that
 it is impossible under our consti-
 tuition to improve our economic
 system. We do not admit that gov
 ernment has no right and no duty
 to prevent a repetition of the crimes of 1928 and 1929. Recovery can be lasting, we
 contend, only if it is a recovery of
 the whole people. We cannot exist
 half in prosperity and half in poverty. Any program of recovery,
 to bring lasting results, must be
 founded on the recovery of the worker. both agricultural and in-
 dustrial. The republican party has subscribed to the theory that if the big corporations and financial institutions are coddled through | the crisis, some of their prosperity will sift down through to the
 masses. We contend that no matter
 how much relief is given those on
 top, it will not correct conditions
 unless the man at the bottom of
 the economic pyramid is helped.
 An increase in the purchasing power of the masses is the only
 lasting help that can be given to
 the producer himself. And social
 justice demands that every man