Evening star., 1935-09-20
tl,des have determined to a large

tudes have determined to a large
extent the course which our national
growth and progress have taken.
Scientific achievement and tech
biological advancement have in a large
measure been responsible for the di-
verse economic approaches of the va
rious sections of the country today.
The wants, requirements and apti-
tudes of labor vary considerably
throughout the country. The business
man. the farmer and the manufactur-
er all have different problems. de-
termined by the conditions which exist
in their respective localities. Such
economic differences and conflicts
are always aggravated by depression
forces, thus making recuperative, cor
rective and preventive treatment ex-
ceedingly difficult. But in the final
analysis all these various divergent
economic interests have one common
objective. We are all striving in our
respective endeavors for the welfare
and progress of the Nation as whole
Seeks to Balance Interests.
Thus. it becomes the problem Of the
Federal Government to seek policy
which will endeavor to balance al
equitably as possible these conflicting
interests so that the results of oul
enterprise will accrue to the benefit
of all concerned. This is the policy
that the Roosevelt administration has
followed. seeking to balance as nearly
| y>Accih1a thu ny1r,nrtI1r,iffoc IN, owl
culture and industry.
The situation in March, 1888, hac
become so acute and so widespread
| that our weakened economic system
did not have sufficient regenerativt
force to bring about effectual anc
beneficial recovery. Recovery had tt
come from specific and directed ac-
tion, with the salient objective ol
sound and sustained economic anc
social stability. Delay, obstacles ..nc
hindrances Of any kind would have
only prolonged the want and suffer
ing Of the American people and even.
tually doomed lis to social disaster.
As these facts are presented fairly
at the high court of American public
| opinion, the verdict is certain to bt
that we have secured recovery because
of what President Roosevelt has done
The litigantS who say that we hav'
secured recovery in spite of what
Roosevelt has done are certain tt
have their case dismissed for lack o
evidence. But I ask all of you to beal
witness with me now that thesi
plaintive plaintiffs do admit the fac
of recovery
Beyond this indisputable economi
recovery as reflected in busines
gains. there is far deeper and NOR,
significant change which has takei
place in the last 30 months. There il
another story which recovery figure.
alone cannot tell. That is the stor!
of the confidence that has super
seded fear, the hope and faith tina
have overcome deSolation and de
spair, and the recovery psycholog.
which has displaced the depression
psychology.
Behind every business cycle in it.
upward and downward movements il
a psychological cycle which, ever
though it is intangible and, therefore
far less responsive to objective action
nevertheless is essential to a com
pletely restored economic system
An assurance of reasonable security
and reasonable protection against
dire consequences of major economic
descriptions are indispensable factors
in creating and maintaining the con.
fidence and support of the great
majority of our people in our demo
cratic institutions and procedures
Business facts must be undergirdeo
with the faith of the people. Let u!
contrast, therefore, these genera
features of security and confidence