Indianapolis Times, Volume 43, Number 31, Indianapolis, Marion County, 16 June 1931 — Page 7

JUNE 16,1931.

Hoover Voices Plea iThat Country Have Faith in Recovery ’ President Urges Optimism in Address to G. 0. P. Editors and Advances Theory for Twenty-Year American Plan/ (Continued from Page 1)

check enterprise and lessen our national activities. With no desire to minimize the realities of suffering or the stern task of recovery, we must appraise the other side of this picture. If wa proceed with sanity, we must not look only at the empty hole in the middle of the doughnut. We must bear in mind at all times our marvelous resources in land, mines, mills, man power, and courage. Over 95 per cent of our families have either an income or a breadwinner employed. Our people are working harder and are resolutely engaged, individually and collectively, in overhauling and improving their methods and services. That is the fundamental method of repair to the wreckage from our boom of two years ago; it is the remedy to the impacts from abroad. It takes time, but it is going on. Although fear has resulted in unnecessary reduction in spending, yet these very reductions are piling up savings in our savings banks until today they are the largest in our history. Surplus money does not remain idle for long. Ultimately it is the most insistent promoter of enterprise and of optimism.

Cites Wage Stand

Consumption of retail goods in many lines is proceeding at a higher rate than last year. Tire harvest prospects indicate recovery from the drought and increased employment in handling the crop. Revolutions in many countries have spent themselves, and stability is on the ascendancy. The underlying forces of recovery are asserting themselves. For the first time in history the federal government has taken an extensive and positive part in mitigating the effects of depression and expediting recovery. I have conceived that if we would preserve our democracy this leadership must take the part not of attempted dictatorship, but of organizing co-operation in the constructive forces of the community and of stimulating every element of initiative and selfreliance in the country. There is no sudden stroke of either governmental or private action which can dissolve these world difficulties; patient, constructive action in a multitude of directions is the strategy of success. This battle is upon a thousand fronts. I shall not detain you by long exposition of these very extensive activities of our government, for they are already well known. We have assured the country from panic and its hurricane of bankruptcy by coordinated action between the treasury, the federal reserve system, the banks, the farm loan and farm board system. We have steadily urged the maintenance of wages and salaries, preserving American standards of living, not alone for its contribution to consumption of goods, but with the far greater purpose of maintaining social good-will through avoiding industrial conflict with its suffering and social disorder.

Tariff Saving Farmers

We are maintaining organized cooperation with industry systematically to distribute the available work 50 as to give income to as many families as possible. We have reversed the traditional policy in depressions of reducing expenditures upon construction work. We are maintaining a steady expansion of ultimately needed construction work in co-operation with the states, municipalities, and industries. Over two billions of dollars is being expended, and today a million men are being given direct and indirect employment through these enlarged activities. We have sustained the people in twenty-one states who faced dire disaster from the drought. We are giving aid and support to the farmers in marketing their crops, by which they have realized hundreds of millions more in prices than the farmers of any other country. Through the tariff we are saving our farmers and workmen from being overwhelmed with goods from foreign countries where, even since our tariff was revised, wages and prices have been reduced to much lower levels than before. We are holding down taxation by exclusion of every possible governmental expenditure not absolutely essential or needed in increase of employment or assistance to the farmers. We are rigidly excluding immigration until our own people are employed. The departures and deportations today actually exceed arrivals. We are maintaining and will maintain systematic voluntary organization in the community in aid of employment and care for distress. There are a score of other directions in which co-operation is organized and stimulation given. We propose to go forward with these major activities and policies. We will not be diverted from them.

We Will Recover

By these and other measures which we shall develop as the occasion shall require, we shall keep this ship steady in the storm. We will prevent any unnecessary distress in the United States, and by the activity and courage of the American people we will recover from the depression. I would be remiss if I did not pay tribute to the business, industrial, labor, and agricultural leaders for their remarkable spirit of co-opera-tion. Their action is magnificent proof of the fundamental progress of American Institutions, of our growth in social and economic understanding, of our sense of responsibility, and of human brotherhood. Leaders of industry have co-oper-ated in an extraordinary degree to maintain employment and sustain our standards of living. There been exceptions—but they represent a per cent of the whole. Labor

has co-operated in prevention of conflict in giving greater effort and consequently in reducing unit costs. We have had freedom from strikes, lockouts, and disorder unequaled even in prosperous times. We have made permanent gains in national solidarity. Our people can take Justifiable pride that their united efforts have greatly . reduced unemployment which would have otherwise been our fate; it is heavy, but proportionally it Is less than one-half that of other industrial countries. Great as have been our difficulties no man can contrast them with our experiences in previdus great depressions or with the condition of other important industrial countries without a glow of pride in our American system and a confidence in its future.

Timid Lose Faith

While we are fostering the slow, but positive processes of the healing of our economic wounds, our citizens are necessarily filled with anxiety, and in their anxiety there is the natural 'Jemand for more and more drastic action by the federal government. Many of their suggestions are sound and helpful. Every suggestion which comes within the proper authority and province of the Executive is given most earnest consideration. We are, of course, confronted with scores of theoretical panaceas which, however well intended, would inevitably delay recovery. Some timid people, black with despair, have lost faith in our American system. They demand abrupt and positive change. Others have seized upon the opportunities of discontent to agitate for the adoption of economic patent medicines from foreign lands. Others have indomitable confidence that by some legerdemain we can legislate ourselves out of a world-wide depression. Such views are as accurate as the belief we can exorcise a Caribbean hurricane by statutory law. For instance, nothing can be gained in recovery of employment by detouring capital away from industry and commerce into the treasury of the United States, either by taxes or loans, on the assumption that the government can create more employment by use of these funds than can industry and commerce itself. While I am a strong advocate of expansion of useful public works in hard times, and we have trebled our federal expenditure in aid to unemployment, yet there are limitations upon the application of this principle. Not only must we refrain from robbing industry and commerce of its capital, and thereby increasing unemployment, but such works require long engineering and legal interludes before they produce actual employment. Above all, schemes of public works which have no reproductive value would result in sheer waste. >The remedy to economic depression is not waste but the creation and distribution of wealth. It has been urged that the federal government should abandon its system of employment agencies and should appropriate large sums to subsidize their establishment in other hands. I have refused to accept such schemes, as they would in many places endow political organizations with the gigantic patronage of workmen’s jobs. That would bring about the most vicious tyranny ever set up in the United States. We have instead expanded our federal government agencies, which are on a nonpolitical basis. They are of far greater service to labor.

Dole Is Dangerous

We have had one proposal after another which amounts to a dole from the federal treasury’. The largest is that of unemployment insurance. I have long advocated such insurance as an additional measure of safety against rainy days, but only through private enterprise or through co-operation of industry and labor itself. The moment the government enters into this field it invariably degenerates into the dole. For nothing can withstand the political pressures which carry governments over this dangerous border. The net results of governmental doles are to lower wages toward the bare subsistence level and to endow the slacker. It imposes the injustice of huge burdens upon farmers and other callings which receive no benefits. I am proud that so representative an organization as the American Federation of Labor has refused to approve such schemes. There have been some complaints from foreign countries over the revision of our tariff and it is proposed that we can expedite recovery’ by another revision. Nothing w’ould more prolong the depression than a session of congress devoted to this purpose. There are no doubt inequities and inequalities in some of our tariff rates; that is inherent in any congressional revision. But we have for the first time effective machinery in motion through a tariff commission with authority for any necessary rectification. And that machinery is functioning.

Defends U. S. Tariff

An analysis indicates that the large majority of these foreign complaints are directed against added protection we have given to agriculture. I believe that some of tiiese countries do not realize the profound hardship which they themselves—with no malevolent purpose —have imposed on the American farmer. Improved machinery, the development of refrigeration, and cheapening of sea transportation have created for them great resources from their jitrgln lands and cheaper labor. Asa result they have taken

profitable export markets from the I American fanner. There have been complaints from older nations who import a portion of their food products and export another portion. Yet these nations look upon their own agriculture as a way of life and as vital to sheir national security, and have long since adopted protective tariffs against the special farm products of the United States. We do not reproach them, for we, too, look upon a healthy agriculture as indispensable to the nation. The growth of our industrial population will ultimately absorb the production of our farmers, but our agriculture was attuned to the export business and is of necessity passing a prolonged crisis in its shift to a domestic basis. Our tariff had proved so low that our farmers were being crowded even from the domestic markets in many products which by use as diversification they can substitute to take up the slack in export business. From that condition we have given him protection, and we stand upon it.

Has No Discriminations

In this connection I noted with interest that the International Chamber of Commerce in its recent meeting in Washington in effect recommended to the world the adoption of this method of the American tariff, although it was not referred to by name. Our visitors found the American tariff act unique in the field of tariff lagislation, as it defines the principles of our tariff by law. That is the difference in cost of production at home and abroad. They found in our new tariff commission the creation of a tribunal open to every interested party empowered and ready to deal with any variations from this principle. They found a tariff without discriminations among nations. They recommended universal adoption of similar principles. Indeed, such a course would greatly modify tariffs in general. It would promote the commerce of the world by removing discriminations, preferences and uncertainties. But it is not my purpose upon this occasion to discuss the relations of our many economic problems to the problems of other nations. lam not unmindful of our responsibilities or our vital interest in their welfare. The very first service to them must be to place our own house in order; to restore our own domestic prosperity. It is from .ncreases in our reservoir of economic strength that has and must come our contribution to the development and recovery of the world. From our prosperity comes our demand for their goods and raw materials. A prosperous United States is the beginning of a prosperous world. With industry as well as agriculture we are concerned not merely in the immediate problems of the depression. From the experience of this depression will come not only a greatly sobered and more efficient economic system than we possessed two yers ago, but a greater knowledge of its weaknesses as well as a greater intelligence in correcting them, when the time comes that we can look at this depression objectively it will be our duty searchingly to examine every phase of it. .

Promote Booms Viciously

We can already observe some directions to which endeavor must be pointed. For instance, it is obvious that the federal reserve system was inadequate to prevent a large diversion of capital and bank deposits from commercial and industrial business into wasteful speculation and stock promotion. It is obvious our banking system must be organized to give jreater protection to depositors against failures. It is equally obvious that we must determine whether the facilities of our security and commodity exchanges are not being used to create illegitimate speculation and intensify depressions. It is obvious that our taxes upon capital gains viciously promote the booms and just as viciously intensify depressions. In order to avoid taxes, real estate and stocks are withheld from the market in times of rising prices, and for the same reason large quantities are dumped on the market in times of depression. The experiences of this depression indeed demand that the nation carefully and deliberately reconsider the whole national and local problem of the incidence of taxation. The undue proportion of taxes which falls upon farmers, home owners and all real-property holders as compared to other forms of wealth and income demands real relief. There are far wider questions of our social and economic life which this experience will illuminate. We shall know much more of the method of still further advance toward stability, security, and V7ider diffusion of the benefits of our economic system. We have many citizens insisting that we produce an advance “plan” for the future development of the United States. They demand that we produce it right now. I presume the “plan” idea is an infection from the slogan of the “five-year plan through which Russia is struggling to redeem herself from the ten years of starvation and misery.

_ Change in Express Rates EFFECTIVE JUNE 15th, several changes have been made in Express Rates covering shipments of Bread, Ice Cream and general merchandise carried on passenger cars. The MINIMUM CHARGE ON SHIPMENTS WEIGHING LESS THAN 25 POUNDS WILL BE 25c. Consult Local T. H., I. & E. Agent for further information regarding these reductions. TERRE HAUTE, INDIANAPOLIS AND EASTERN TRACTION CO. r

THE INDIANAPOLIS TIMES

Proposes American Plan

I am able to propose an American plan to you. We plan to take care) 1 of 20,000,000 Increase in population ; in the next twenty years. We plan j to build for them 4,000,000 new and | better homes, thousands of new and still more beautiful city buildings, : thousands of factories; to increase the capacity of our railways; to add thousands of miles of highways and waterways; to install 25,000,000 elec- i trical horse power; to grow 20 per cent more farm products. We plan to provide new parks, schools colleges, and churches for ! this 20,000,000 people. We plan more leisure for men and women and better opportunities for its enjoy-; ment. We not only plan to provide j for all the new generation, but we; shall, by scientific research and invention, lift the standard of living: and security of life to the whole j people. We plan to secure a greater dis- j fusion of wealth, a decrease in poverty, and a great reduction in crime. And this plan will be car- • ried out if we just keep on giving the American people a chance. Its , impulsive force is in the character ; and spirit of our people. They have t already done a better job for 120,- j 000,000 people than any other nation in all history. Some groups believe this plan can only be carried out by a fundamen- ! tal, a revolutionary change of method. Other groups believe that any system must be the outgrowth of the character of our race, a natural outgrowth of our traditions; that we have established certain ideals over 150 years upon which we must build rather than destroy. If we analyze the ideas whiefi have been put forward for handling our great national plan, they fall into two groups. The first is whether we shall go on with our American system which holds that the major purpose of a state is to protect the people and to give them equality of opportunity, that the basis of all happiness is in development of the individual, that the sum of progress can only be gaged by the progress of the individual, that we should steadily build up co-operation among the people themselves to these ends. The other idea is that we shall directly or indirectly regiment the population into a bureaucracy to serve the state, that we should use force instead of co-operation in plans and thereby direct every man as to what he may or may not do.

Welfare at Stake

These ideas present themselves in j practical questions which we have ; to meet. Shall we abandon the j philosophy and creed of our people for 150 years by turning to a creed, foreign to our people? Shall we establish a dole from the federal j treasury? Shall we undertake federal ownership and operation of public utilities instead of the rigorous regulation of them to prevent imposition? Shall we protect our people from the lower standards of living of foreign countries? Shall the government, except in temporary national emergencies, enter upon business processes in competition with its citizens? Shall we regiment our people by an extension of the arm of bureaucracy into a multitude of affairs? The future welfare of our coun- | try, so dear to you and to me for ourselves and our children, depends upon the answer given. Our immediate and paramount task as a peope is to rout the forces of economic disruption and pessimism that have swept upon us. The exacting duty of government in these times is by use of its agencies and its influence to strengthen our economic institutions; by inspiring co-operation in the community to sustain good will and to keep our country free of disorder and conflict; by co-operation with the people to assure that the deserving shall not suffer; and by the conduct of government to strengthen the foundations of a better and stronger national life. These have been the objectives of my administration in dealing with this, the greatest crisis the world has ever known. I shall adhere to them.

Confidence Is Needed

If, as many believe, we have passed the worst of this storm, future months will not be difficult. If we shall be called upon to endure more of this period, we must gird ourselves to steadfast effort, to fail at no point where humanity calls or American ideals are in jeopardy. Our transcendent momentary need is a much larger degree of confidence among our business agencies and that they shall extend this confidence in more than words. If our people will go forth with the confidence and enterprise which our country justifies, many of the mists of this depression will fade away. In conclusion, whatever the immediate difficulties may be, we know they are transitory in our lives and in the life of the nation. We should have full faith and confidence in those mighty resources, those intellectual and spiritual forces, which have impelled this nation to a success never before known in the history of the world. Far from being impaired, these forces were never stronger than at this moment. Under the guidance of Divine Providence they will return to us a greater and more wholesome prosperity than we ha\e ever known.

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