Evening star., 1936-10-15

Roosevelt neaQed lnCO MlCnlkAH JUQdy
to drive home his assertion at Chicago
that the New Deal was aligned against
abuse" of the power Of concentrated
wealth" and not against private enter
prise.
Behind a corps of 80 motor cycle
patrolmen he rode last night along
streets lined by a cheering multitude.
numbered in tens of thousands, to face
$4,000 persons in the packed Chicago
Stadium where he set forth the EN-
phatic declaration.
"All that this administration has
done, all that it proposes to do-and
this it does propose to DDS to use
every power and authority Of the Fed
eral Government to protect the COM
merce Of America from the selfish
forces which ruined it."
Stresses Progress.
To the credit Of the New Deal, he
claimed, 'the train of American busi-
ness is moving ahead. Mind you, 1t
did not get out Of the ditch itself. it
was hauled out by your Government"
The Presidents return as seeker Of
reelection to the city-and stadium
where he was nominated in 1882 was
marked by mass turnout which taxed
the efforts Of 900 policemen.
To clear his automobile route from
special train to stadium the motor cycle
escort parted a marching throng esti-
mated at 100000 to 10000 by the
police and Co-chairman Barnet Hodes
of the Reception Committee.
In the line of march were 50 bands.
Hemming 1t in was q l6-block long
canyon Of humanity. which Police
Capt Thomas Kilroy said numbered
$4,000 spectators to the block. jammed
20 deep in q storm Of falling paper
from windows overhead.
Entering the stadium in a glare Of
lights amid the din of fireworks and
the rumble of cheers. President Roose-
vet launched promptly into his theme:
That behind the growing recovery
of today is q story of deliberate Gov
ernment acceptance of responsibility
to save business-to save the American
system Of private enterprise and
economic democracy-a record un-
equaled by any government in history"
He asserted the previous admins
tration in Washington" had failed to
act because ''it was high-f1nance-
minded-manned and controlled by
handful of men, who. in turn con-
trolled and by one financial device OF
another took their toll from the greater
part Of all other business and in
dustry."
The audience interpolated loud
"boos."
Under that system, he said, 'inde-
pendent business was allowed to exist
only by sufferance"
In 1888. he said, the average busi-
nessman" wanted the Government to
take certain actions. He listed them:
Lists Actions
81. Stop deflation and falling prices
and We did it.
q. Increase the purchasing power
OF his customers who were industrial
workers in the cities-and We did it.
''3. Increase the purchasing power
of his customers on the farms-and
We did it.
"a. Decrease interest rates. power
rates and transportation rates-and
we did it.
IS. Protect him from the losses due
to crime, bank robbers, kidnapers,
blackmailers-andw we did it."
He declared the administration thus
had preserved ''privaue profit and free
enterprise.
The met Federal debt today" he
said, was lower in proportion to the
income Of the Nation and in propor-
ton to the wealth Of the Nation" than
on March 4, 1888.
In the future" he predicted, "it
will become lower still because with
the rising tide of national income and
national wealth, the very causes OF our
emergency spending are disappearing
Government expenditures are coming
down and Government income Is
going up."
Depositors Declared Benefited.
Bank depositors had benefited. since
he took Office. from the Governments
guarantee of their accounts, he said,
investors by rising stock and bond
levels, merchants by increased in
come of customers, persons in the in
dustries by greater earnings and fewer
bankruptcies, railroads by increased
trafic and farm middlemen by a
steadier supply of products.
Some people say that all this re-
covery has just happened" he said,
but in a complicated modern world
recoveries from depressions do not
just happen. The years from 1929 to
1888, when we waited for recovery
Just to happen, proves the point. But
in 1888 We did not wait. We acted"