Evening Star Newspaper, October 17, 1936, Page 5

Roosevelt’s Cleveland Speech President Hits Use of Stockholders’ Money for Propaganda Designed to Defeat New Deal. By the Assoctated Press. CLEVELAND, Ohio, October 17.— Following is the text of President Roosevelt's speech here last night: I have had a very exciting and & very instructive trip for the last 10 days through a great part of this country. It has been cheering after these hard years to see on all sides smil- ing faces and happy crowds again. Four years ago there were crowds, too—but they had the anxious faces of uncertainty and doubt, faces shadowed by trouble and fear of the future. During the past week the hun- dreds of thousands of men and women and children I have seen have had cheerful faces and voices of courage and hope. I am sure that you people in Cleveland and other parts of Ohio need no proof that your factories, your shops, your stores, your farms, are all doing bigger business, that those who work in them are getting more and fatter pay envelopes. If any one needs recovery figures, here they are for Ohio: Compare the first half of 1936 with the first half of 1933. What do you find? Employment in all industries is up 36 per cent. Pay rolls in all industries are up 83 per cent. Electric power produc- tion is up 44 per cent. Farm in- come, excluding benefit payments, is up 53 per cent. Department store sales in the Cleveland Fed- eral Reserve district are up 86 per cent. Building permits in 47 Ohio cities have increased by 367 per cent, from $7,500,000 to $35,000,000. Residential construction in the and which I call the “trickle down" theory. That theory is that if you lend some money to the few finan« cial interests at the top of the eco- nomic pyramid, it will trickle down and some of it will find its way into the pay envelopes of the workers, into the ledgers of the millions of independent business men through the Nation and into the pocketbook of the farmers. The trouble with that theory was that there was always too little left to trickle more than half way down. - The theory of this administra« tion has been just the opposite. We have acted in the conviction that the way to bring about re- covery was to tackle the problems of those who are at the bottom of the economic pyramid, to increase earnings and income and, through them, the purchasing power of everybody. We knew that sales could not be made to people who had lost the power to buy. And so we tackled the problem from the point of view of all groups. What is happening today shows the soundness of that pro- gram, Fairer Wage and Hours Opportunity Held Out to All Particularly was that true of the wage earners of the Nation. For the first time in many years the industrial workers and wage earn- ers of America have had an ad- ministration in Washington which was determined to give them an opportunity for a fairer wage, for a more decent standard of working hours. We were determined to do THE EVENING every wage earner. Whether he is runni a store on the corner or + is a stockholder in a corporation, big or little, he is financially bet- ter off when wages and working conditions are good than when wages and working conditions are poor. Surely the panic proved that! When men are idle they are not in the market for the products of industry. When wages are low and the working week is long, their purchasing power is limited. Well-Paid Worker Is Best Customer of Business. *It is to the real advantage of every producer, every manuface turer, every merchant, to co-oper- ate in the improvement of work- ing conditions, for the best cuse tomer of American industry is the well-paid worker. And the best guarantee of corporate dividends is a rising standard of living. If the workers in a particular {mlustry are poorly paid they be- come poor customers of every other o AMOU&T of advertis- ing could possibly have STAR, industry and of every other mere chant. And the corporation di- rectors and lawyers who use the money of their stockholders to per- suade their stockholders that they ought to chastize the administra- tion that is trying to broaden home and foreign markets for their own goods are, to put it mildly, a little foggy in thelr thinking processes, } In this era, when many families hold stock in many diversified in- dustries, it does them no good to depress the condition of labor in any industry. They profit best when labor is justly served. I said in Chicago, and I re- peated here, that the business men of America, the investors in busi- ness enterprises, are going to show on November 3 that they have not been frightened or fooled by the expensive propaganda of those who would seek to spread the gospel of fear—fear that this administration 1s antagonistic to business. Read the record. of what we Feminine WASHINGTON, D. C., have done for business and you will find the answer to that charge. 1 repeat here that the record shows that no administration in the history of the United States has done so much to encourage the business of the Nation. Back in the Spring of 1933 the whole system of free enterprise and private profit was on the edge of ruin. It had been dragged there by the same leaders who are now trying to scare you. It was be- cause of our determination to keep the American system that we suc- ceeded in doing what we did at a time when the system was almost buried under the ruins, Few of the public are being fooled this year. Every now and then stockhold- ers and bondholders in the United States are flooded with literature .warning them against returning this administratton to office. They probably will be appealed to again. ‘That literature is being sent out from the center of the great finan- SATURDAY, OCTOBER 17, 1936. clal district of New York. The money of the stockholders is being used to finance this literature. This waste of stockholders® money is being perpetrated by the same group which had brought business as a whole to its knees during the dark days of the de- pression. Concentrated Wealth And Economic Power Fought. We fight only against that kind of concentrated wealth and eco- nomic power which in the old days used to dictate not only to the business of the Nation, but to Government itself — that small minority of financial interests whose concern was not the wel- fare of the Nation, but the welfare of business in America, but solely the extension of their own péwer. It is the glory of America that the standard of living is higher here than in any country or at any time in the history of the world. The underlying issue in every political crisis of our history has been between those who, laying emphasis on human rights, have sought to exercise the power of the Government for the many and those who have sought to exercise ;he power of Government for the ew. We are now coming to learn that the interest of the few were best served when the interests of the many were best safeguarded. That is our fight now. It will be ‘won now as it has always been won in America since the day on which the members of the Continental Congress declared inalienable the rights to life, liberty and the pursuit of happiness. MRS. STEWART ELECTED Named Recording Secretary of Capital's Canadian Club. Mrs. Frederick G. Stewart was elected recording secretary of the Ca- nadien Club of Washington at a « A5 meeting of the club’s Board of Gove ernors Thursday night at the home of Dr. and Mrs. Cyrus W. Culver. She was named to fill a vacancy. A tentative social program for ths season was adopted. With the exact time and place for several of the everts to be set later, it includes: November 1, tea; November 30, dinner; January 10, social; February 16, dine ner; March, card party; April, amae teur night; May 24, dinner; June, annual party given by Dr. Edwin N, C. Barnes, past president of the club, at his camp on South River. Dr. William H. Ross is president of the clul WOODWARD & LOTHROP PuONE DIsmict 5300 A-6rR36 D-6rR 6 10™ (1™ F AND G STREETS Vassarette Masterpieces E-6ror $|7 1 v built the reputation and suc- cess that FATHER JOHN’S MEDICINE has earned and maintained for eighty years this, not only because that was simple justice, simple Americanism, but because it was good business. And the business men of America same cities has increased 741 per cent, from about $2,000,000 to about $18,500,000. *Trickle Down"” Theory of with the new G-6FOR 312 Money Discarded by New Deal. These figures show an increase in business for every group in Ohio, The fact that recovery has come to all of these groups is a refuta- tion of the old theory which had guided the previous administration, know now that it was good busi- ness. They know that a greater portion of their regained sales comes from the increasing purchas- ing power of those who work in the cities and on the farms. The interest of every business man is bound to the interest of as a treatment for colds and a body-builder, unless it had proven value and « + » Don’t wait—be merit. prepared—get it today. fashioned bustline A lifted yet artfully natural bustline—young, rounded firmness that slopes to a perfect pro- file—all this and diaphragm flatness, slimmed waistline and rounded hips are yours in these new Vassarette all-in-ones. And all with utter comfort. Sketched at left, $7 At right, $10 Corsers, THIRD FLOOR, WOODWARD & LOTHROP 10™ 1™ F AND G STREETS ! 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