The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1938-04-14

rover preferred. The net cost x
the Treasury by either methoc
would be about the same.
NET COST LESS
While the aggregate of the Pres
ident'S proposals is about $4,000,
100000, the net cost to the Treas
ury is expected to be far below
that figure. Approximately half is
to be on q revolving loan basis
with the Treasury expecting its
return.
For direct relief under the WPA
the President proposed an outlay
Of $3.50, 900, 900, and for a re
sumption of PWA building $3.50,
100000. Other direct expenditures
would grant $75. 1000, 900 for farm
security administration; $4,000,
900 for the national youth ad.
ministration; $5o,000,000 for the
CCC; $1,000, o00, 900 for highways;
$37,000,00 for flood control, and
$25 ZOO, 900 for construction Of new
FeQeral DullQlngS.
"All the energies of the Cow
eminent and business" he said,
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"
Mr.. Roosevelt analysed at some
length the causes of the 1929 de-
preston and asserted that "our
situation (today) is vastly diff
ferent from that which we faced
five years ago." He had previously
reviewed the reforms accom-
pliShed since 1888 in the field of
banking and business. The tools
to cure this economic slump, he
said, are now already forged and
laid out on the bench for use.
TOO MUCH PRODUCTION
One Of the primary causes OF
the depression which he inherited,
he said, was overproduction of
everything-Such overproduction
that the public purchasing power
was unable to keep up with it.
What happened in the late '20s
On large scale, he said, has now
required on q smaller Scale-pro-
duction has got ahead Of the abil-
1ty to buy. He mentioned cotton
fabrics, automobiles and steel in
this connection, although his in
dictment included the general
field Of manufacturing industries.
Mr.. Roosevelt reiterated his be
lief that recovery and reform In
governmental and business prac
tees must go hand in hand. In
this connection, he afforded q
glimpse into his future policy
when he declared outright for the
abolition Of all sorts Of taX-exempt
Government bonds; the taxation
Of now exempt Federal and State
salaries, railroad reorganization,
and a broad general program de-
signed to more securely control
monopolies and their price-fixing
practices.
II have set my hope, my aim,"
he said, ION stabilized recovery
through a steady mounting of
our citizens income and our
citizens wealth.
BUSINESS MUST HELP
And in that process, which l
believe is ready to start, let us
avoid the pitfalls of the past
the over!production, the over
speculation and all the extremes
which we did not succeed in
avoiding in 1929.
In all this, Government can
not and should not act alone.
Business must help. l am sure
business will help.
1--WE need more than the ma
terialS Of recovery. We need a
united national will.
I'VE have at our disposal the
national resources, the money,
the skill Of hand and head to
raise our economic leVel-our
citizens income. Our capacity
Is limited only by our ability to
work together. What is needed
Is the will.
MUST PULL IN HARNESS
"T1ae time has come to bring
that viii into action with every
driving force at our command.
I am determined to do my
share"
The responsibility to pull ir
harness is universal, he observed
and takes in industry, finance
labor and the professional
classes.
Perhaps with some thought O.
the unbridled attacks that havC
been made upon him, and hi.
own acrid criticisms Of some bust
ness practices, he added:
There Is placed upon all of
US the duty Of self-restraint.
We still rely on personal
responsibility "a responsibility
guided by common conscience.
URGES TOLERANCE
'That is the discipline of de-
mocracy. Every patriotic citi-
zen must say to himself or her
self that immoderate statement,
appeals to prejudice, the crea-
ton OF unkindneSs are offenSes
not against an individual or In.
diVidualS, but offenSeS against
the whole population Of the
United States.
"SelfFeStraint implies re-
straint by articulate public
opinion, trained to distinguish
fact from falgehood. trained To