The Waterbury Democrat., 1934-03-05

as one great team to victory"
 That team is before me this morning-3,50O leaders of 500 great organized industries rep resenting, as measured by em- ployment, more than 90 per cent of the industrial field which is covered by the MIRA. Naturally am deeply gratified that the faith which I expressed last June is so well justified in March.
 I do not undertake today to present either a broad review of all the manifold causes which led up to the distressful situation from which the nation is emerg- ing or a reorganization of the events, the measures and the re- suits of this past year. You are here as the direct representa- lives of only one element in our complex modern life but at the same time because of the fine spirit you have shown can con. gratulate you on an approach to your own problems which shows an understanding of the many other problems which criss-cross and dovetail into each other to make up the broad objective of the American people.
 Every Man For Himself
 It is sufficient for me to point out once more that the difficult and dangerous situation into which the United States had got itself was due to the general at- titude, "every man for himself: the devil take the .hindmost." h. dividuals are seeking quick riches at the expense of other individ- uals. Geographical sections were seeking economic preference for themselves to the disadvantage of other sections. Cities were recklessly offering inducements to manufacturing plants to move away from other cities. Within given industries unfair compe- tition went on unheeded or re. suited in vast consultations whose securities were peddled to the public at dishonest prices. There was little consideration for the social point of view and no planning whatsoever to avoid the pitfalls of overproduction or of selling methods which foisted ar- ticles on gullibfe public, which the family budget could not af- ford.
 That is a strong picture but you and I, in the bottom of our hearts, know that it is a true picture. Most of us participated in the making of that picture. We did not know as much then as we know now and because our eyes have been opened 1t is pos- sib1e that future history will call that crazy decade of 1919 to 1929, one of the greatest blessings that ever came to the American people.
 American Remedy Applied
 It was because the situation in March, 1883, was so serious ali along the line that remedies had to be applied to every phase of the illness. The objective was, as you know, to apply these remedies in the American way and not to copy those which are being tried in other countries which do not live under the same form of democratic government as ours. I am aways a little amused and perhaps at times a little saddened-and I think the American people feel the same way--by those few writers and speakers who proclaim tearful1y either that we are now com init. ted to communism and co1lectiv- ism or that we have adopted fascism and a dictatorship. The real truth of the matter is that for a number of years in our country the machinery of dem- ocracy had failed to function. Through inertia on the part of leaders and on the part of the people themselves the operations of government had fallen into the hands of special groups, some of them vociferously led by peo. pie who undertook to obtain special advantages for special classes and others led by hand full of individuals who believed in their superhuman ability to retain in their own hands the en- tire business and financial con- trol over the economic and so- cial structure of the nation.
 Compliments Industries
 The fine response given by the overwhelming majority of the component parts of industry as represented here today proves to me that you have the same un- derstanding of our broad purpose as Is held by the average of work CTS of the -United States-and that word workers means almost all of the American people. You have shown sincere desire for real cooperation; you have shown prompt response to the govern mental request for national unity. For this support give you my thanks.
 The National Industrial Re- covery Act was drawn with the greatest good of the greatest number in mind. Its aim was to increase the buying power of wage earners and farmers so that industry, labor and the public might benefit through building up the market for farm and fac tory goods. Employer, wage earn CT and consumer groups are all represented on its boards with the government; all three groups Wltn Jn6 navy interests of all the people as their main responsibility.
 > What we seek is balance on our economic system-balance be. tween agriculture and industry and balance between the wage earner, the employer and the con- sumner. We seek also balance that our internal markets be kept rich and large, and that our trade with other nations be increased on both sides of the ledger.
 You and I are now conducting a great test to find out how the business leaders in all groups of industry can develop capacity to operate for the general welfare Personally I am convinced that with your help the test Is suc- ceeding.
 The very conception of MIRA follows the democratic proced- ure of our government itself. Its theory of self regulation follows the American method rather than any of the experiments be- ing tried in other nations. The very fact that you have been in Washington to criticize and to ,.--... 4r~ x.,,x, NRA fa u,nrk-