The Waterbury Democrat., 1938-04-14

thANhL1N ing off of workers came upon us last autumn and has been con- tinuing at such 8 pace ever since that all of us, government and banking and business and workers, and those faced with destitution, recognize the need for action.
 It should be noted in fairness that since January l, 1897, the president has recommended to the Congress only four measures of major importance to the business of the country:
 l. Legislation to stabilize agri- culture. A comprehensive law was approved by me two months ago.
 2. Legislation to end serious loopholes in our personal income tax laws. This was enacted last summer.
 3. Legislation to put a floor un- der wages and ceiling over hours of labor in industry, and
 4. Tax legislation to remove AllC4uAGACo AlOALl CllC AlOAoUA ADNeCA profits tax, especially as they af- feet the smaller type of business. Both this measure and the third are still under consideration by the Congress.
 The record speaks for itself. No other measures affecting business have been proposed.
 All the energies of government and business must be directed to increasing the national income; to putting more people into private jobs, to giving security and the feeling of security to all people in all walks of life.
 believe that improvement in government and business practices must go hand in hand with recov- ery-that they should be, and will be, a definite aid to recovery. While I do not wish in this mes- sage to over-emphasize some of the needs, I do want to say that Ibelieve that we must be definitely aware of certain of them-the elimination of future tax exempt bonds of all kinds of government agencies; the subjecting of gov- ernment salaries anu wages of all kinds of federal and state income taxes; 8 serious undertaking to solve the railroad problem and the problems of monopolistic practices and price fixing. These are no new subjects, nor have I anything to add to them except the statement that their solution will help and not hurt business.
 At the same time, I must re- peat what believe the overwhelm- ing majority of both houses of the Congress will agree to-that the Congress and the chief executive can ill-afford to weaken or destroy great reforms which, during the past five years, have been effected on behalf of the American people. In our rehabilitation of the bank ing structure and of agriculture, in our provisions for adequate and cheaper credit for all types of business, in our acceptance of na- tional responsibility for unemploy- ment relief, in our strengthening of the credit of state and local government, in our encouragement of housing. Slum clearance and home ownership, in our supervi- sion of stock exchanges and pub lie utility holding companies and the issuance of new securities, in our provision for social security, the electorate of America wants no backward steps taken.
 Right of Labor
 We have recognized the right of labor to free organization, to col- lective bargaining, and machin- cry for the handling of labor re- lations is now in existence. The principles are established even though we can all admit that through the evolution of time ad- min.stration and practices can be improved. Such improvement can come about most quickly and most peacefully through sincere efforts to understand and assist on the part of labor leaders and employers alike.
 The never-ceasing evolution of human society will doubtless bring forth new problems which will require new adjustments. Our immediate task is to consolidate and maintain the gains achieved.
 In this situation there is no reason and no occasion for any American to allow his fears to be aroused or his energy and enter prise to be paralyzed by doubt or uncertainty.
 Our situation is vastly different from that which we faced five years ago. Let us use the tools already forged and laid out on the bench.
 Consumer Demand At this immediate time we suf- fer from a failure of consumer demand. The hoped for re-em- ployment of this spring is not pro- ceeding fast enough to create an economic upturn.
 Therefore, the problem calls for action both by the government