Evening star., 1936-10-15
~ the Associated Press.

Z
last night follows:
Four years ago dropped into this
city from the airways-an old
friend come In a new way-to ac-
cept in this hall the nomination
for the presidency of the United
States. came to a Chicago fight
ing with its back to the wall-fac-
tories closed, markets silent, banks
shaky, ships and trains empty.
Today those factories sing the
song of industry-markets hum
with bustling movement, banks are
secure, ships and trains are run
ming full. Once again 1t is Chicago
as Carl Sandburg saw 1.-THE city
of the big shoulders'-the city that
smiles. And with Chicago whole
Nation that had not been cheerful
for years is full of cheer once
more.
On this trip through the Nation
I have talked to farmers. have
talked to miners, ! have talked to
industrial workers-and in all that
I have seen and heard one fact
has been clear as crystal-that
they are part and parcel of a
rounded whole and that none OF
them can succeed in their chosen
occupations il those in the other
occupations fail in their prosperity.
I have driven home that point.
Message of Confidence
Held Out to Business Men.
Tonight give the same message
to the business men of America
to those who make and sell the
processed goods the Nation uses
and to the men and women who
work for them. To them say:
Do you have a deposit in the
bank? 1t is safer today than it has
ever been in our history. 1t is
guaranteed. Last October LIST
marked the end of the first full
year In S. years without a single
failure Of a national bank in the
United States Isn't that on the
credit Slde OF Jne IOVeruHicHt .
account with you?
Are you an investor? Your stocks
and bonds are up to five and six
year high levels.
Are you a merchant? Your mar
kets have the precious lifeblood OF
purchasing power Your customers
on the farms have better incomes
and smaller debts. Your customers
in the cities have more jobs. surer
Jobs, better jobs. Didn't your Gov
ernment have something to do with
that?
Are you in industry? Industrial
earnings, industrial profits are TN
highest in four, six or even seven
years. Bankruptcies are at new
low. Your Government takes some
credit for that.
Freight and Passenger
Traffic on Railroads Mounts.
Are you in railroads? Freight
ioadings are steadily going up.
Passenger receipts are steadily going
up-have in some cases doubled
because your Government made the
railroads cut rates and make money.
Are you middleman in the great
stream of farm products? The
meat and grain that move through
your yards and elevators have a
steadier supply, steadier demand
and steadier prices than you have
known for years. And your Gov
ernment is trying to keep it that
way.
Some people say that all this re-
covery has just happened. But in
a complicated modern world recov-
cries 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. Behind the growing recov-
cry of today is story of deliberate
Government acceptance of respon-
sibility to save business-to save the
American system of private enter
prise and economic democracy-a
record unequaled by any govern
ment in history.
What had the previous admins
tration in Washington done for four
years? Nothing. Why? For a very
fundamental reason. That admin
istration was not industrially-
minded-nor agriculturally-mind-
ed-nor busineSs-minded. 1t was a
high finance minded-manned and
controlled by handful Of men who
in turn controlled, and by one
financial device or another took
their toll from the greater part of
all other business and industry.
Not All Bushes Men and
Bankers Are Malefact0rs.
Let me make one simple state
ment. When I refer to high finance
am not talking about all great
bankers. or all great corporation
executives, or all multi -millionaireS
ANY more than Theodore Roose-
welt, in using the term "malefactors
OF great wealth" implied that all
men of great wealth were male
factors do not even imply that
the majority OF them are bad citi-
zens. The opposite is true.
Just In the same way, the over
whelming majority of business men
In this country are good citizens
and the proportion of those who are
not is probably about the same pro-
portion as in the other occupations
and professions of life.
When I speak of high finance as
q harmful factor in recent years,
am speaking about a minority which
includes the type Of individual
who speculates with other peoples
fnoney-and you in Chicago know
the kind refer to-and also the
type of individual who says that
popular Government cannot be
trusted and, therefore. that the
control Of business of all kinds and,
indeed, of Government Itself
should be vested in the hands Of
one hundred or two hundred all
wise individuals controlling the
purse strings Of the Nation.
High finance of this type refused
to permit Government credit to 60
directly to the industrialist, to the