The Waterbury Democrat., 1936-05-16
"EIection Is Over, 7
 Exclaims Speaker In
 Dramatic Conclusion
Reviews Outstanding Achievements of President Roosevelt From Dark Days of March '30 to Present
 Day-C Confidence, American Credit Restored
(BY DEMOCRAT STAFF MAaV)

(BY DEMOCRAT STAFF MANI
 New Haven, Conn, May 16-- U. S. Attorney General Homer 5. Cummings declared that flor all practical purposes the election !s now over" In the course of hAs keynote address to the delegates gathered for the democratic state convention in New Haven Arena last night.
 Tn summing up hls remarks the Attorney General, 8 native of this state and gifted orator who has raised many . democratic gather ing to its feet by the power and passion of his Oratory, said, "the people do well to love the Pres ident. j. :"
 His summation of the accom- pIishments of Che Roosevelt ad- ministration in the face of the heritage which was left 1t was both brilliant and all inclusive. He was greeted with . line dis. play of enthusiasm by Che as- sembIed delegates and ringing cheers interrupted his address on several occasions.
 His speech in full follows: Ladies and Gentlemen of the Con-
 vention!--
 It is an agreeable experience to return to my home state and to have an opportunity to salute old" time friends and party associates upon the eve of another great Democratic victory. Here I find the consollng presence of my col- leagues of other days, and here too, see the ardent and shining faces of the younger men and women who have come into the party to renew its vitality and to carry on its great traditions. l felicitate the leaders of our or" ganization upon the happy man- ner in which these groups have been brought together and mold. ed into Q coherent and united force.
 To our able Senators and Con- gressmen, to our efficient State Chairman and his associates upon the State Central Committee, and to all the faithful members of our pOrty who are gathered here to- night, I extend my .af1ectionate greeting.
 LAuds Cross
 I pause to pay especial tribute to the NeStor of Connecticut De" mocracy--Qovernor Wilbur L. Gross, whose scholarly attain. ments, broad statesnnanship and, may say, salty personality, have added luster to the great office he administers with such marked distinction. He has won an ea. during place in the affections of the people of Connecticut.
 Members of the Convention, we have come long way together and there are many things yet to be done. The last three years have been fruitful years. Our peo. pie have successfully passed through Q great crisis. When the present administration came into power, our country was in the throes of Q depression far more devastating than war. Our starld- ards of civilization were being progressively impaired. Our peo- pie were being forced to accept Q less and less adequate scale of liv. ing. Our financial structure was in ruins. Our industries had practically ceased to function and we trembled upon the verge of an economic abyss which threatened to engulS the nation. The great captains of industry and finance. who had been 50 potent in the old days, and who had assumed that they possessed Q patent upon prosperity, were in Q state of be. wilderment bordering upon abject terror. They saw nothing ahead but universal bankruptcy and the Il. { quidation of assets under condi. tons 50 desperate that they could not and would not have been el1. dured by any free people.
 Banks Closed
 DO not for e moment imagine that I exaggerate. During the Hoover Administration COSY banks were forced to close their doors. The managers of the fnan- cial institutions that still survived were, in their desperation, calling in loans, selling the securities that were pledged to meet them, fore" closing mortgages and restricting credit, thereby accelerating the yOeed with which we were ap" preaching complete chaos.
 The startling withdrawals of gold for hoarding or for export to foreign countries, which took place in February and the first few days of March 1888, made further gold redemptions impossible. Those who could lay hands upon gold bullion, gold coin or gold certif- icates were carrying them stealth fly to storage in safe-deposit boxes. During this thirty day period, S476, OOO00 in gold had been withdrawn from the Federal Reserve Banks and the United States Treasury, of which $3ll,- 100000 was for export, or to be earmarked for foreign account. Simultaneously there was Q great demand for money of all kinds, for domestic hoarding. No man knew what the next day might bring forth. Foreign trade had been brought to standstiil. price levels were falling everywhere, ana the burden of debt was beating our people to their knees. Fail- ures and bankruptcies had reached unparalleled proportions. Our agricultural population was in dire distress and farm evic- tons were taking place at the rate of more than tWo hundred thoa- sand . year. Uncounted millions were out Of work.
 Funds Depleted
 Nor ls this all. The funds Of ~a.o~fta a.aA s.ruass&Rn fte1saa aaa6 fHa