Evening star., 1937-07-13
Good Business Sense De.
mands Continued, U. S.
Building, He Says.
TRADE UNITS HOME HELD
GOLDEN RULE SYMBOL
Trowel Used by Washington Is
Employed in Spreading Cor
ner Stone Mortar.

ner stone of the Apex Building, new
home Of the Federal Trade Commits
sion.
Recalling the nature of the work to
which the building is dedicated the
President said eternal vigilance" is
necessary to keep business honest and
that dangers from monopoly and un-
fair business practices make the Trade
Commission of vital Importance in the
Nations economic life
May this permanent home of the
Federal Trade Commission" he said,
stand for all time as a symbol of the
purpose of the Government to insist
on greater application Of the Golden
Rule to the conduct Of corporations
and business enterprises in their rela-
tionship to the body polite"
The President spoke from a flag
draped platform erected on the Penn
sylvania avenue side of the partially
completed building at the intersection
OF Constitution and Pennsylvania
avenues. The structure completes the
triangle" Of Government buildings,
he said, and also carries forward the
plan Of eventually housing in Gov
ernment-owned buildings all the
agencies here.
War Department Cited.
Mr.. Roosevelt cited the War Depart
ment, scattered through l8 buildings,
as an example Of those units which
are housed unsuitably at large an
nual rental cost
After his address the President used
the trowel that was used by George
Washington in laying the corner stone
Of the Capitol in 1893 to spread mortar
for the corner stone of the new
F. T. c. home. Il might remark that
have my union card" he said jok-
ingly as he picked up the trowel
The new building. being erected with
P. w. A. funds at cost Of S3125.OOO.
Is scheduled to be ready early next
year.
The 4ive members of the commits
sion sat on the platform behind Mr.
Roosevelt at the ceremonies yester-
day, facing crowd OF several hun
dred invited guests. Chairman w. A.
Ayers introduced the President. whose
address Vas broadcast over the ma
tional radio hook-ups, after Rev. James
Shera Montgomery, chaplain of the
House Of Representatives, gave the
invocation. Rev. Richard Cartmell
gave the benediction and the United
States Marine Band played the Star
Spangled Banner" at conclusion Of
the ceremonies.
Text of Address.
The text Of the Presidents address
follows
Most of the great Federal commits
sions were set up in the belief that
an ounce OF prevention was worth a
pound OF cure" The Federal Trade
Commission was no exception to that
sound legislative intent. Prevention Of
unfair business practices is generally
better than punishment administered
after the fact Of infringements, costly
to the consuming public and to hon.
est competitors
Great and incalculable impacts have
shaken the economic world in the
period since the commission began its
work. The most disastrous depression
in the history of business has given
new and forcible emphasis to the need
for just the contribution which the
| commission has made to our economic
life
All Of the fine things achieved in the
interest OF fair trade practice since
the approval by President Wilson in
September, 1914, of the original Fed
eral Trade Commission act justify the
event for which we are assembled here
today: the laying OF the corner stone
OF a new home for the commission.
The record OF accomplishments in the
interest OF fair competition, in pros
porous times and when evil days were
upon the land, warrants that this
body shall have habitation adequate
to its needs and in keeping with the
Importance of the tasks which it has
accomplished and will continue to
perform in the protection Of American
trade.
The vision Of Woodrow Wilson has
been vindicated again. When that
far-seeing statesman asked Congress
IN January, 1914, to create the Fed
eral Trade Commission he saw in the
realm Of trade and commerce a field
which prevention was indeed better
than punishment.
Cites Its Work.
To the Federal Trade Commission,
therefore, was given the task of pro-
tecting competitive business from fur
ther inroads by monopoly and of as
suring to the public the fullest possi-
bic measure of benefit growing out OF
the competitive system. When the
commission discovered practices which
were unfair or which tended toward
monopoly. it was to deal with them
by injunction rather than by punish
ment, punishment being reserved for
the violator of the injunction.
Undoubtedly in large measure i'm
provement in business ethics has been
helped by the constant play of the
light Of publicity growing out OF the
administration Of acts such as the
Federal Trade Commission act.
But the dangers to the country
growing out of monopoly and out OF
unfair methods Of competition still
exist and still call for action. They
make the work of the Federal Trade
Commission OF vital importance in our
economic life. We must not be lulled
by any sense of false security. Eternal
vigilance IS the price of opportunity
for honest business. 1t Is the price
We must pay II business is to be al
lowed to remain honest and to carry
on under fair competitive conditions
protected from the sharp or the shady
practices Of the INSCRIPTIONS.
Ths erection Of this splendid houna