Evening Star Newspaper, November 17, 1932, Page 12

SHIPSTEAD SEES NEW POLICY NEED Forum Speaker Says People Have Demanded Funda- mental Changes. ‘Bhe American le, by wh amgunts to “a peaceful revolution, have demanded a change not only in| Government personnel, but a change| policies “so funda- in _governmental meital in character as to transcend = party consideration,” Senator Ship- | stedd of Minnesota declared last nigat in the National Radio Forum arranged | by The Washington Star and broadcast by WRC and a coast-to-coast network of 'bther National Broadcasting Co stations “P believe,” Senator Shipstead said. | “th§ American pecple are convinced | that in a time of national erisis and | whep the Nation's life is in danger is no time to think of parties or of men. It i3 my opinion that in this determi- natldn of the people lies the Nation's | safety and the best assurance of cur ultifhate economic recovery.” Sees Agriculture Change. st important of the changes in naticnal policy which must be made, th> “Minnesotan said, has to do with sgritulture. The policies now in force, he said, are “destroying the farmer” | and: with him the “foundation of the | Nation.” The general property tax| g}md upon the farmer is heavier than e tan bear, Senator Shipstead raid, and ‘he must b relieved of this burt by .he governments of the various . Farm mortgages must be re- e;l at lower rates of inte: he = | e Government, he said, must also maintain the stability of the purchas- ing power of the dollar. The wide fluc- tuation of money value, “due to an almost insane po'icy of extreme infla- | tion- and deflation of credit” he as- serted, is responsible to a large ex- tent for the present depression. Thorough knowledgs and a sound polisy of dealing with unwise domes- ic Icans and capital issues is of far greater importance to the American | public than the question of foreign debte, he aid | Senator Shipstead declared that it is | essential that there be “a reasonable reflotion of the currency.” Revision | of the bazking laws shouid be under- | taken, he sald. Resubmission to the| people of the prohibition amendment is | mandatory, he declared. Drastic re- duction of Government expenditures also.must be made, he seid. Text of Address. The text of Scnator Shipstead’s ad- | @ress follows: “Ladies and gentlemen: I am grate- ful to Mr. Kuhn, managing editor of Th-. Washington Star, for the honor and privilege of speaking to you this evening on the subject of our American | dutv. | “Qur American duty is a broad term, | and may include many things, but I take for granted Mr. Kuhn does not | expest me to cover the entire field. I| shall therefore confine my remarks to | enymerating some of the duties of the | citizen and the duties of the Govern- | ment. “T believe the first duty the American citizen should bear in mind is that he is the sovereign of the Nation. The | duty. of a sovcreign is to conduct the | affairs of government. The Govern- | ment is created to carry out the will of | the sovereign people. It is the duty of | @ citizen to se= to it that the Govern- | ment i5 used for the purpose for which it was created. “As set forth in the preamble to the | Constitution, the American Government was created by the people for the fol- | Jowing purposes: ‘We, the people of the United States, in order to form a | more perfect union, establish justice, in- sure domestic tranquillity, provide for | the coramon defense, promote the gen- | eral welfare and secure the blessings of | liberty to ourselves and our posterity, do ordain and establish this Constitu- tion for the United States of America.’ “Any instrument created for a noble purpose may be used for ignoble pur- poses. The Government is the crea- ture of the people, ana must obey the will of its creator. Too o.ten a change in administration has meant only a change in personnel of postmasters and tax collectors. This kind of a change will not satisfy the people’ this time. “Sought Change in Personnel.” “In the last election the sovereign People voted for a changs. They did not vote for a change of our system of Government. They voted for a change ©of personnel to represent them. “I am confident that those elacted to g\t& of authority and power must ow that this change in policies de- manded by the people at the polls can- not be expressed in the difference be- tween tweedledee and Nor is this demanded change to be interpreted as merely a change from one party in control to another. It must be evident that this overwhelming desire for change, as expresced by the vote of the peopls, is not confined | merely to a change of personnel in tweedledum. | SENATOR HENRIK SHIPSTEAD. THE EVENING STAR. WASHINGTON, D. C. Radio Forum Speaker public office, but it was followed in the hope of 2 change in national policiz.— poiicies tha: this people have ecme to believe were not promoting the general welfare, nor were they, in the opinion | of the people, conducive to the estab- lishment of justice. “I believe the change in policies de- manded is so funcamental in character 2s to transcend all party conrtideration. I believe the American ?eop]e are con- vinced that in a time of national crisis | and when the Nation's life is in danger | is no time to think of parties or of men. | It is my opinion that in this determina- | tion of the people lies the Nation's safety and the best assurance of our | ult te economic recovery. “In the heat and bitterness of a na- tional campaign, which amounts, in | fact, to a pacific revolution, in that one group in control of the Government is overthrown for another, the baneful influence of party spirit end prejudice rises to high heat. It is the custom ang duty of American citizens when the campaign is over to check and dissipate this disruptive influence. “Every public offi-ial within my mem- ory has had the good will of the Ame: can people at the time of his inaugura- tion and has retained that good will so long as he has had the confidence of the people. “It is not my intention to enter into any party controversy nor to refleet on any individual in this a¢dress, but I be- lieve the present acdministration had the confidence and good will of the peo- ple at its inauguration in 1929, and I beileve the new administration to be inaugurated on March 4 next will also have it and make every effort to re- tain it. Duty to Give Confidence. “It is the cuty of every American citizen to give the incoming adminis- tration his confidence, and it is the duty of the administration to merit it. It is also our American duty to study the problems that are to be solved in so far as they can be solved through inaugu- ration of new policies. Mr. Kuhn has asked me to discuss some of these with you. “The most important, in my opinion, would be a change in our national poli- cies toward the agricultural industry. | Agriculture is the foundation of the Nation's economic life. On the back of the farmer rests industry, finance and commerce. The policies now in force are destroying the farmer, and when | you destroy him you destroy the foun- dation of the Nation. The general property tax placed upon the farmer is | heavier than he can bear. He must be ments of the various States, because | this tax is not levied by or paid to the | Federal Government. “The farmers constitute 25 per cent of our population and receive only 10 | per cent of the national income. This | can be remedied by policies that will | | give the farmer a better price for his product and policies that will remove some of the burdens placed upon him | by legislation attacking his income for the benefit of industry and commerce. ‘We must make it possible for the farmer to retaln ownership of his farm. One | of the imperative necessities is to re- finance his mortgages at a lower rate of interest and revalue the dollar to the | same value it had at the time he bor- rowed it. This will not only revive agriculture but industry and commerce | also. It will start rehabilitation at the root of the tree rather than at the top. | “The share of agriculture and labor | out of the national income had been | gradually reduced in the 10 years prior | to the depression 40 and 30 per cent, respectively. Incustry during the same time had increase in income of 72 | of the present value. per cent. Industry was permitted to «ake during our period of paper pros- perity so much of the income of the 70,000,000 of people working in agricul- tural pursuits and for wages that their purchasing power was destroyed. As a result industry is now suffering with labor and agriculture, due to lack of a market because of destroyed purchasing power. It is a dangerous experiment to endeavor to make fictitious capital issues yield a return by continued at- tack upon the income of the 70,000,000 of people working as producers on the farm and for wages. “rlease note income frem wagzes and salaries this year is about 30 per cent below 1931, but dividends andi interest payments are only about 13 per cent below last year. “The most valuable service that the credit system and the Government can render to the people of the Nation is to | maintain the stability of the purchas- ing power of the Nation's money. The wide fluctuations of the purchasing and dedt paying value of the dolla®, aue to an almost insane policy of extreme in- flation and deflation of credit, is re- sponsible to & large extent for the present depression. The overwhelming amount of private and corporate in- debtedness cannot be paid in a dollar It also interferes with or make impossible pavment of international debts and trade balances. Hear About Unwise Loans. “We hear a great ceal of agitation about unwise loans to foreign govern- | ments and what is said to be their de- vastating effect upon American com- merce. A thorough examination of un» | wise loans and capital issues made here | in America would lead any unpreju- diced observer to the conclusion that the foreign loans are a mere bagatelle in comparison with the unwise loans | and capital issues in this country. The importance of American domestic in- debtecness has not yet been sufficiently probed to be appreciated. It involves a question of policy so far-reaching in its consequence that it cannot be safely left to bankruptcy courts for solution. “The $70,000,000,000 of new capital issues issued from 1920 to 1930 against an already overcapitalized structure, and constituting additional mortgages against the income of the people, can- | not be liquidated nor any income be | produced to yield a return upon this fictitious capitalization at the present value of the dollar. While some say the American dollar is ringing true at every counter in the world, I want to say, with due respect to people who think 50, that it is not ringing in the pockets | relieved of this burden by the govern- | Of the farmer or the working man, nor 1 —Star Staff Photo. | | dedicate ourselves to that ideal. 25l !fiigfi' -1 currency is, in my opinion, urgently needed. Some have called this & quack remedy, but this suggestion comes mostly from quacks responsible for the | quack remedies under which we are now suffering. I fail to see how a nation suffering from an overwhelming amount of public and private indebtecness can get out of debt by going deeper into debt. “Revision of the banking laws should be undertaken, with a view to taking commercial banks out of the business of underwriting stocks and bonds of fic- | tittous or doubtful value and selling them to the public. Commercial bank- ing must be restored to its legitimate functions. “The need is urgent for new laws re- Iating to corporations doing business in industry and commerce and for the con- trol of corporaticns, at least so far as capital issues and consolidations are concerned. Such control will give greater confidence in corporate invest- ments, distribute excessive earnings in wages and lower costs to consumers, | prevent the hoarding of excess profits by corporations, give stability to industry as well as work out the purpose of jus- tice and honest dealing in the business world. “Dry Law Mandate Plain.” “The mandate of the election is plain on the question of prohibition. The repeal of the eighteenth amendment be- ing outside the jurisdiction of Congress, it is the duty of Congress to submit through & resolution the question of re- pezl of the eighteenth amendment to the only authority that has the power to deal with it. That power is vested only in the people of the several States. “‘Another mancate of the people is for drastic reduction of Government ex- penditures. This can best be done through the administration of the bud- get. In presenting the budget to Con- gress the President makes request for certain monies to run the Government. The director of the budget is re- sponsible to the President. e money is spent through the different de- partments responsible to the Presi- dent. In making up the budget the President, through the heads of the various departments and bureaus ap- pointed by him, has the opportunity to make specific recommendations to Congress as to what commissions and bureaus can be eliminated, where per- sonnel can be eliminated. It is for this reason that the director of the budget was made responsible to the President and not to the Congress. “The fixed interest charge of the Government debt can be reduced, in my opinion, by a conversion of the long- time debt at a lower rate of interest, as was done in Great Britain. All interest | rates on all debts must be reduced. “It has been quite popular in certain circles to demand reduction of wages and salaries to bring them into line with the income of the farmer but the people who favor these things say noth- ing about reducing bonds and mortgage interest rates, rents and income from leaseholds. These are the wages of capital. “These are some of the fundamental issues that, in my opinion, are calling for solution. I am confident we shall solve them, but we can only do so by dedicating ourselves to patrictic service in a spirit of whole-hearted eo-opera- tion. The American people have always in a spirit of tolerance and forbearance responded magnificently in every hour of the Nation's need, and they have the |. right to expect that publie officials will follow their example. “The President-elect has dedicated himself to the service of America in that spirit and has promised the people a new deal. It is our American duty to Let us forget the rancor of the past and look to the future with confidence, courage and hope. “We must not be afraid to sct and efll,\flf WITH PORK for it by name. CHARLEMAGNE PROMISED HIS SUBJECTS one satisfying meal aweek. Unheard of generosity! No monarch of his time could hope to match it! But the wise housekeeper today stocks her pantry shelves with Phillips Delicious vegetables and soups, and has the assurance of fine meals for her family three times every day. One good shelf is filled by Phillips Delicious beans with pork, each can identical in outer appearance and identical also in the temptin wholesomeness inside. The beans are ulecles white beans cooked slowly with tender pork then seasoned in a smooth, rich tomato sauce. The beans, the meat, the tomatoes form a whole- some, well-balanced meal, as economical as it is savory. For lunch, for dinner, for supper, for the after-school appetizer, serve Phillips Delicious beans with pork. Your grocer as it — ask HILLIPS DELICIOUS face the facts and see as they the spirit of Americe. spirit that made our country great. That spirit must not be permitted to die.” A BUSINESS LEADER DIES PHOENIX, Ariz., November 17 (#).— Ray Prescott Johneon, sr., widely known . | industrial leader of Muncie, Ind., die” in his Winter home here yesterday. Johnson was 55 years old. He wac d | born in Bluffton, Ind., but had lived in Muncie for many years. He was grad- uated from the University of Chicago. where he was prominent in athletics and starred on the foot ba’l team. THURSDAY. NOVEMBER 17, 1932. CONVICTED ON THREATS Ex-Policeman Must Serve 60 Days in Jail or Post $500 Bond. Lyman Leich, s former He also was fived $5 on & orderly conduct b Mrs. Daisy Leich, wife, told Judge Hitt that her her yesterday at ti slock of Minnesota avenue southeast. The court declined to hear testimony | 2gainst two ~hildren. the father from his STOMACH DIETINE WONT HELP —THIS WI/LL Most “indigestion” has been found imaginary! The pains and gas and all that misery are real, of course. But nine times in ten they are symptoms only of slow stomach. Did you know you can regulate your stomach to emply in six hours, as it should? That this is as easy as moving the bowels? One box of Pape’s Diapepsin will test your stomach and correct your digestion time in a couple of days— at a cost of thirty cents! Each tablet of diapepsin saves the stomach half an hour’s labor. If your stomach is an hour slow, two tablets will remedy the trouble. Then eat anything. Baked beans every noon if you .Jike them. Lobster at midnight suppers. These will digest like erackers and milk in a six-hour stomach! Pape’s Diapepsin stimulates the gastric flow. Use it freely until the stomach is working right without any help. When it slows down, take diapepsin again for a day or two. 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