The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1936-09-11
ROOSEVELT BACK
In CAPITAL TODAY
Continued from page one)

Continued from page one)
physical terms" of the green pas
lures and still waters theme, Mr..
Roosevelt said that his administra-
ton has:
Enabled the public, through a
practical prosperity, to begin to
pay their debts, to paint their
houses, to buy farm tools and
automobiles, to send more boys
and girls through school and col
lege, to put some money in the
bank and, incidentally, to know
for the first time that the money
in the bank is safe"
LONG before | went to Wash
ington," he said, 81 was convinc-
ed that the long road to green
pastures and still waters had to
begin with a reasonable prosper
ity.
at seemed automatic to me that
a cotton farmer who could get
only five cents a pound for his
crop could not be in position 4.
to work out for himself and his
family a well-rounded, reasonable
secure life.
"The same thing held true, l
thought, in the case of the farm
er whose principal crop was to-
bacco or whose principal crop was
corn -.
J "In respect to cotton, / have a
definite objective: the cotton
farmer has been cursed for gen
Grafton by the fact of insecurity.
The price for his crop has run up
the scale and down the scale and
up the scale and down the scale
again."
In March of 1888, Mr.. Roose-
welt continued, he told Secretary
of Agriculture Wallace:
"My objective is to get 1O-cent
cotton our first year in office and
to get 12-cent cotton or more for
the next three years. You and l
must keep that goal before our
eyes," .,
"You know the story of cotton, "
he added, "you. know the story OF
tobacco too. There again yur ma
tional government had a goal"
Emphasizing that an underpaid
city wage-earner is just as much
"a drag on the prosperity OF
America" as an Impoverished
farm family, the president said:
"That is why most thinking
people believe that the national
recovery act, during its short term
of life, accomplished as much for
the restoration of prosperity
through the establishment of the
minimum wage, the shortening of
hours an dthe elimination of child
labor as any law put on the stat
ute books of the federal govern
ment in the past century"
Here he turned to a discussion
of how business and farm recov-
cry had started all forms of gov
eminent out of the red through
raising the assets on which taxes
are levied, and said:
"That is why 1 go back to the
original thessi that any common
sense, logical governmental policy
had to begin with the building up
of farm and other property values,
and crop values, and the increase
of workers wages if that historic
corner was ever to be turned.
Historic records that only a
few years ago farmers were not
making both ends meet: workers
in factories were not making both,
ends meet; the small business man
was not making both ends meet
and the corporation was not MAX
ing both ends meet.
Incidentally, the individual
who had to borrow, the corpora
ton which had to borrow and the
government which had to borrw-
all were cmpelled to pay uncon-
scionable and ruinous interest
charges.
History also will record that
by the year 1886 a very much
larger number of individuals are
back in the black; so are most of
our small business men; so are
most of our corporations and so
are almost all of our municipal
and county and state govern
mentS
= 'In the process of attaining
these successful ends, individual
liberties have not been removed,
and inherent rights of the SOW
ereign states have not been in
vaded. 1t was obvious, of course,
because of the economic unity of
the entire country, that no group
of individuals and no individual
states could, by themselves, take
the action necessary to restore the
purchasing power of the nation.
Only the federal government could
accomplish that.
81 speak to You today as COM
nonsense American men and wo-
men. You will agree that from
the material aspect, the nations
consuming power has been rapid
ly restored. l trust that YOU will
likewise agree that better condi-
tions on the farms, in the factor
les and in the homes of America
are leading us to the spiritual
figure of the PSa1noist orrao,, 80,