Evening star., 1938-01-09
Chief Executive Is
Spearhead of
Attacks.
NEW DEAL FOES
HELD MINORITY
Jackson Day Talk
Broadcast to
All Dinners.
Tert OF Presidents Speech, Page A-3
Guest List OF 500 Dinner, Page ALI

Tert of Presidents Speech, Page A-3
Guest List OF 500 Dinner, Page Ali
BY G. GOULD LINCOLN.
With President Roosevelt as the
spearhead, the Administration laid
down a Nationwide barrage last
night, attacking monopoly and the
evils wrought by concentrated wealth
and offering cooperation to honest
business"
The occasion was the series of jack
son Day dinners throughout the land
Mr.. Roosevelt addressed huge and
enthusiastic gathering at the May
flower Hotel and his speech, delivered
at $50 pm, was broadcast to all the
other dinners, and to many foreign
nations.
The President promised an un-
compromising fight against minority
of business men, bankers and in
dustrialists"
The White House door," he said
sis open to all our citizens who come
Offering to help eradicate the evils
that flow from the undue concentra-
ton Of economic power or unfair
business practices-who offer to do
all that is possible by cooperative
endeavor and to aid in corrective and
helpful legislation where necessary"
Points to Minority Opposition.
Again picturing to the country a
minority in business, although of great
wealth, in opposition to the New Deal
detectives, the President said:
I'VE know that there will be few
q mere handful of the total business
men and bankers and industralists-
who will fight to the last ditch to re-
tain such autocratic controls over the
industry and finances of the country
as they now possess"
With this handful" he added en-
phatically and with smile, 1T is
going to be fight in which there will
be no compromise. with evil, no let
up until the inevitable day of VIC
tory"
The President singled out the hold
ing companies Of public utilities and
the comparatively few men who con-
troll all the vast utility interests of
the country, to point his charge that
concentrated wealth is working against
the interests of the American people
Electric Utility Securities.
It has been estimated, he said, that
there are outstanding some $13.OOO.-
100000 of electric utility securities.
The substantial control of this total,
he continued, is in the hands of the
owners of less than s600,O00.O .OO0 1t,
means, he said. that the ownership
of about per cent of these securities
controls the other 96 per cent.
Here is a 96-inch dog" said the
President, being wagged by a 4-inch
tail"
The contest with concentrated
wealth, which the President insisted is
trying to dominate the country, is
similar today to the struggle which
Jefferson inaugurated and which
Jackson, Lincoln, Theodore Roosevelt
and Woodrow Wilson carried on, he
said. Particularly did he lay stress on
the battle Jackson waged against the
Bank Of the United States, which he
described as ''the purse and the sword
Of the opposition"
Appeal to Rank and File.
The Presidents address Was an ap-
peal to the rank and file of the Amer
lean people and to the great mass Of
business men, whom he sought to dis
tinguish from his opponents, to back
the New Deal cause.
Arranged months ago, these jackson
Day dinners, celebrating the victory of
Andrew jackson at the Battle of New
Orleans in 1915, were originally in
tended to spread the doctrine of the
New Deal and at the same time to
raise funds to pay off the 100000
deficit of the Democratic National
Committee, and to provide funds to
launch the coming congressional cam
paign. The administration, however,
seized the opportunity to build up its
case that the present business recess
sion has been due to evil practices by
. minority Of business and to point the
way to safety through cooperation
between business and the Government.
In addition to the President, six
members Of the Cabinet and many
other high officials Of the Government
took part ii the avalanche of speeches
made last night, from California to
New York and from Minnesota to
Texas. The Presidents son and Sec
retary, James Roosevelt, was the prin-
cipal speaker at dinner given in
Boston.
The President sought to draw a par
allel Of his contest today with that
fought by jackson by describing the
opposition to Jackson by the press, in
the fight with the Bank of the United
States.
With the bank, the President said,
was aligned all of the nationally
Csee DINNERS, Page A-3.)