Evening star., 1938-04-15

| III une nope OF geCLlnR something 10
eat. We in America know that our
own democratic institutions can be
preserved and made to work But in
order to preserve them we need to act
together, to meet the problems of the
Nation boldly, and to prove that the
practical operation of democratic
government is equal to the task of
protecting the security of the people.
Not only our future economic sound
ness but the very SoundneSs of our
democratic institutions depends on the
determination of our Government to
give employment to idle men. The
people of America are in agreement
in defending their liberties at any
cost, and the first line of that de-
fense lies in the protection of economic
security. Your Government, seeking
to protect democracy. must prove that
Government is stronger than the
forces of business depression.
| History proves that relationships do
not grow out of strong and successful
governments but out of weak and
helpless ones. If by democratic meth
DDS people get government strong
enough to protect them from fear and
starvation, their democracy succeeds,
but if they do not, they grow i'm
patient. Therefore, the only sure
bulwark of continuing liberty is a
government strong enough to protect
the interests of the people, and peo-
pie strong enough and well enough
e. {o;,
control over its government.
We are rich Nation: we can afford
to pay for security and prosperity
without having to sacrifice our liberty
ties into the bargain
Young Republic Offered
Subsidies in Land.
In the first century Of our republic |
We were short of capital, short of |
workers and short of industrial pro- i
dCction, but we were rich in free land |
free timber and free mineral wealth. |
The Federal Government rightly as |
sumed the duty of promoting business |
and relieving depression by giving sub !
sides of land and other resources.
Thus, from our earliest days we !
have had tradition of substantial .
Government help to our system of |
private enterprise. But today the /
Government no longer has vast tracts |
of rich land to give away and We have |
discovered that We must spend large /
! sums to conserve our land from
| further erosion and our forests from .
| further depletion The situation is /
also very different from the old days, |
| because now We have plenty of capi- !
| tai, banks and insurance companies |
loaded with idle money: plenty OF in
dustrial productive capacity and
several millions of workers looking for
| jobs. 1t is following tradition as we'll |
as necessity. if Government strives to |
put idle money and idle men to work,
to increase our public wealth and to |
build up the health and strength Of
the people-and to help our system of
| private enterprise to function.
1t is going to cost something to get
out of this recession this way. but the
profit of getting out of it will pay for
the cost several times over. Lost work
ing time is lost money. Every day
! u n
machine is unused. or a business Or
ganzation is marking time. is loss
to the Nation. Because of idle men
and idle machines this Nation lost
one hundred billion dollars between
1929 and the spring of 1888. This
year you, the people of this country,
are making about twelve billion dol
lars less than last year
If you think back to the experiences
of the early years of this administra-
ton you will remember the doubts and
fears expressed about the rising ex-
penses of Government But to the
surprise of the doubters. as We pro-
ceeded to carry on the program which
included public works and work re-
lief, the country grew richer instead
of poorer.
Many Assets Included
In Total Spent for Recovery.
1t is worth while to remember that
the annual national peoples income
was thirty billion dollars more in
1887 than in 1882. 1t is true that the
national debt increased sixteen bill
lion dollars. but remember that in this
increase must be included several
billion dollars worth of assets which
eventually will reduce that debt and
that many billion dollars OF permanent
public mprovements-school roads,
bridges. tunnels. public buildings,
parks and host of other things
meet your eye in every one of the
,&,
No doubt you will be told that the
Government spending program of the
past five years did not cause the in
crease in our national income. They
will tell you that business revived be-
cause of private spending and invest
ment. That is true in part, for the
Government spent only small part
of the total. But the Government
spending acted as trigger to set off
private activity. That is why the total
addition to our national production
and national income has been so much
greater than the contribution of the
Government itself
In pursuance of that thought I said
to the Congress today: II want to
make it clear that we do not believe
that we can get an adequate rise in
national income merely by investing.
lending or spending public funds 1t
is essential in our economy that private
funds be put to work and all of us
recognize that such funds are entitled
to fair profit
As national income rises, 'let us not
forget that Government expenditures
will 60 down and Government tax re-
ceipts will go up"
Voices Hope Congress
Will Pass Wage Hour Bill
The Government contribution of
land that we once made to business
was the land of all the people. And
the Government contribution of money
which we now make to business ulti-
timately comes out of the labor of all
fI,A l.. |