The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1934-01-03


ttonal industrial recovery act.
We seek the definite end OF pre-
venting combinations in furtherance
Of monopoly and in restraint OF trade,
while at the same time we seek to pre-
vent ruinous rivalrieS within indus
trial groups which in many cases re-
semble the gang wars Of the under
world and in which the real victim in
every case Is the public itself.
Under the authority OF this con-
gress, we have brought the component
parts Of each industry together around
common table, just as we have
brought problems affecting labor to a
common meeting ground.
Though the machinery. hurriedly
devised, may need REIMBURSEMENT from
time to time, nevertheless think you
will agree with me that we have Gre
ated a permanent feature OF our mod
ernized industrial structure and that
II will continue under the supervision
but not the arbitrary dictat;on OF gov
eminent itself.
You recognized last spring that the
most serious part OF the debt burden
affected those who stood In danger
OF losing their farms and their homes.
I am glad to tell you that refinancing
IN both OF these cases Is proceeding
with good success and in all probable
ity within the financial limits set by
the congress.
Farm Plan Succeeding
But agriculture had suffered from
more than Its debts. Actual expert
ence with the operation OF the agri-
cultural adjustment act leads to my
belief that thus far the experiment OF
seeking balance between production
and consumption Is succeeding and
has made progress entirely In line
with reasonable expectations towards
the restoration OF farm prices to par
ity.
I continue in my contention that in
dustrial progress and prosperity can
only be attained by bringing the pur-
chasing power of that portion of our
population, which In one form or an
other Is dependent upon agriculture,
up to level which will restore a
proper balance between every section
Of the country and every form of work.
In this field. through carefully
planned flood control, power develop
ment and land use policies, in the
Tennessee Valley and in other great
watersheds, we are seeking the elm
ination Of waste. the removal of poor
lands from agriculture and the en-
enlargement of small local industries
thus furthering this principle of bet
ter balanced national life.
We recognize the great ultimate
cost Of the application OF this rounded
policy to every part Of the union.
Today we are creating heavy obi
cations to start the work and because
Of the great unemployment needs OF
the moment. look forward, however
to the time in the not distant future
when annual appropriations, wholly
covered by current revenue. will en-
able the work to proceed with q ma
tional plan.
Promises Big Return
Such a national plan will, in q gen.
Grafton or two. return many time:
the money spent on It; more import
ant, 1t will eliminate the use Of in.
efficient tools. conserve and increase
natural resources. prevent waste, ane
enable millions Of our people to take
better advantage OF the opportunities
which God has given our country.
I cannot, unfortunately, present tt
you picture of complete optimism re-
garding world affairs.
The delegation representing the
United States has worked in close co.
operation with the other American re-
publicS assembled at Montevideo te
make that conference an outstanding
success.
We have. I hope, made It clear tt
our neighbors that we seek with them
future avoidance Of territorial expan.
sion and Of interference by one nation
In the internal affairs OF another.
Furthermore. all OF us are seeking
the restoration of commerce In way!
which will preclude the building up O
large favorable trade balances by any
one nation at the expense Of trade
debts on the part of other nations.
In other parts of the world. how.
ever, fear OF immediate or future ag.
1ression, and with this the spending
of vast sums on armament and the con.
t.nued building up Of defensive trade
barriers. prevent any great progress II
neace or trade agreements.
Ready to Cooperate
have made 1t clear that the Unit
I'd States cannot take part in politica
arrangements in Europe but that w
stand ready to cooperate at any tim'
il. practicable measures on work
basis looking to immediate reduction
Of ornaments and the lowering Of thu
barriers against commerce.
I expect to report to you later II
regard to debts owed the government
and people Of this country by the gov
elnments and peoples OF other coun
tries. Several nations, acknowledging
the debt, have paid In small part
other nations have failed to pay. ON
NEUTRALITY-SUSPICIOUS. paid the install
ments due this country In full.
Returning to home problems, VI
have been shocked by many notorious
examples of injuries done our citizen
by persons or groups who have beer
living off their neighbors by the U.s.
Ct methods either unethical or Grim
inal.
In the first category-a field which
does not involve violations Of the let.
rer Of our laws-practices have beer
brought TO light which have shocked
those who believed that we were II
the past generation raising the ethica
standards Of business.
They call for stringent preventive
or regulatory measures.
I am speaking Of those individual!
who have invaded the spirit and pur.
pose Of our tax laws, OF those high Of
l.cials OF banks or corporations whit
have grown rich ct the expense o
their stockholders or the public, o