Evening star., 1936-10-15

New means and methods Of trans
portation and communications have
made us economically. as we'll as
politically, single Nation. Be-
cause kidnapers and bank robbers
could in a high-powered car speed
across State lines it became neces-
sary, in order to protect our peo-
pie, to invoke the power Of the
Federal Government.
In the same way spectators and
manipulators from across State
lines and regardless of State laws
have lured the unsuspecting and
the unwary to financial destruc-
ton. In the same way across
State lines there have been built
up intricate corporate structures,
piling bond upon stock and stock
upon bond-huge monopclies which
were sitting independent business
and private enterprise.
Peoples Government
At Washington Sole Protection.
There was no power under
Heaven that could protect the peo-
pie against that scrt of thing ex-
cept a peoples Government at
Washington. All that this admin
istration has done, all that it pro-
poses to do-and this 1t does pro-
pose to dds to use every power
and authority of the Federal Gov
ernment to protect the commerce
of America from the selfish forces
which ruined it.
Always. month in and month out.
during these three and half
years, your Government has had
but one sign on Its desk-"Seek
only the greater good of the great
er number of Americans" And in
appraising the record, remember
two things. First, this adninistra-
tion was called upon to act after
previous administration and all
the combined forces of private en-.
terprise had failed. Secondly. In
spite of all the demand for speed,
the complexity Of the problem and
all the vast sums Of money in
volved, we have had no Teapot
Dome.
We found when we came to
Washington in 1888 that the busi-
ness and industry Of the Nation
were like a train which had gone
of the rails into a ditch. Our first
job was to get it out Of the ditch
and start it up the track again as
far as the shops Our next job was
to repair 1.-THE broken axles,
which had gotten it of the road;
the engine, which had been worn
down by gross misuse.
What was 1t that the average
business man wanted Government
to do for him-to do Immediately
in 1888?
Accomplished Demands Made
By Business on Government.
/. Stop defiation and falling
prices-and we did 1t.
2. Increase the purchasing power
of his customers who were indus
trial workers in the cities-and we
did 1t.
3. Increase the purchasing power
of his customers on the farms
and we did 1t.
4. Decrease interest rates. power
rates and transportation rates
and we did it,
5. Protect him from the losses
due to crime, bank robbers, kid
napers, blackmailers-and we did
it.
How did we do it? BY a sound
monetary policy which raised
prices. BY recognizing the banks
of the Nation and insuring their
deposits. BY bringing the business
men of the Nation together and
encouraging them to pay higher
wages, to shorten working hours,
and to discourage that minority
among their own members who
were engaging in unfair compete
ton and unethical practices.
Through the A. A. A., through
our cattle-buying program. through
our program Of drought relief and
flood relief, through the Farm
Credit Administration, we raised
the income Of the customers of
business who lived on the farms.
BY our program to provide work
for the unemployed, by our G. c. C.
camps, and other measures, greater
purchasing power was given to
those who lived In our cities.
Money Put Out Began
To Find Way to Trade Channels.
Money began going around again.
The dollars paid out by Govern
ment were spent in the stores and
shops Of the Nation: and spent
again to the wholesaler; and spent
again to the factory; and spent
again to the wage Garner: and
then spent again In another store
and shop. The wheels Of business
began to turn again; the train was
back on the rails.
Mind you, it did not get out Of
the ditch itself, 1t was hauled out
by your Government.
And we hauled it along the road.
p. w. A., w. p. A. both provided
normal and useful employment for
hundreds of thousands of workers.
Hundreds of millions Of dollars got
into circulation when we liquidated
the assets Of closed banks through
the Reconstruction Finance Corpo-
ration. Millions more when We
loaned money for home building