Imperial Valley press., 1934-01-03
PROGRESS ON
RECOVERY IS
SAT|SF FACTORY
Continued From Page u

clan of the gun, organized bandit
ry, lynching and kidnapping. There
could be no misappreSension of
whom Mr.. Roosevelt spoke.
The message was more than an
address to congress or even to the
people. With an aroused section of
big industry moving inevitably to
| legal challenge of much recovery le-
! gislation, the President addressed
himself also to the third branch OF
government, normally left to go its
way alone and without advice.
Paragraph by paragraph, the Pre-
Sident touched upon and dealt gen.
orally with the problem of the ma
ton.
Silent On Currency
He did not unfold to the con-
gress his plan for currency or the
dollar but remarked briefly on his
| partial utilization of initiation pow
ers and said again he was aiming at
a medium of exchange less variable
in purchasing and debt paying pow
| er.
Inquiry and examination have
convinced Mr.. Roosevelt that Ger
tain of our sister nations" are con-
fronted by domestic problems at this
time which prevent them from en-
| tering Into stabilization discussions
based on permanent worldwide OBJ
| jectives." But in those words is the
unqualified reiteration that such
| stabilization is an ultimate object
of Roosevelt's money plans.
| Credit of the government has
been fortified by the economy act,
Mr.. Roosevelt said, and the "over-
whelming majority" of banks, both
national and state which reopened
last spring are sound. The govern
ment is assisting in return of near
ly 100000 900 of frozen money to de-
positors of banks which we're not IL
censed to resume business.
The President reported great
strides toward the objectives OF
MIRA and estimated that uniform
hours and wage standards apply to
95 per cent of the industrial en-
ployment within the scope of that
agency
Readjustment of machinery hur-
riedly devised may be necessary
from time to time, the President
added, in summing up the works
of the NRA.
He forecast that refinancing the
debt burdens of farmers and home
owners menaced last spring by
foreclosure would be effected with
in the financial limits set by con-
gress. The program is proceeding
with good success.
Farmer Chief Sufferer
But agriculture itself has suffer.
ed from more than its debts, thu
President continued. Actual exper'
ience has convinced him that tht
Agricultural Adjustment Admins
tration experiment is succeeding 81
far in it's effort to find a balanc,
between production and consump
ton.
Flood control, power development
and land use policies are to figure
largely in solution of agriculture
problems. Citing the Tennessee,
Valley and other developments, tn,
President said his administration
was seeking:
l. Elimination of waste.
2. Removal of poor lands from
agriculture.
8. Encouragement of local indus.
tries.
The objective is better balanced
national life.
The ultimate cost will be great
Mr.. Roosevelt conceded. He ex.
planned that heavy obligations were
being incurred to start work or
the Tennessee and other great wat
ersheds because of tremendous en-
plOyment needs.
81 look forward, however," Mr.
Roosevelt said, "to the time in the
not distant future, when annual
appropriations, wholly covered by
current revenue, will enable the work
to proceed with national plan.'
The return in a generation or two
would be many times the money
spent, Mr.. Roosevelt believes.
Save the genuine, important
things of our civilization and per-
nit the vicious and wasteful part
of society to perish, the President
counselled congress.
1--WE could not save it if we wish
ed he said. "They have chosen
the way of self-destruction."
"It is an integrated program, ma
tional in scope" he earnestly told
the congress as he approached the
end of his momentous communica-
ton.
The fruit of mechanical invention,
the power of machine production TIC