i PXGE FOUB - BEDFORD MAIL TRIBUNE, ilEDFORD, OREGON", TUESDAY, OCTOBER 18, 1932 . - -
EVERY
CRISIS BREEDS ITS OWN
-. . We have strengthened the capital of the federal land banks . . ,
Tne Farm Board, by emergency loans to the farmers' cooperatives, served
to stem panic? in agricultural prices and saved hundreds of thousands
of farmers and their creditors from bankruptcy ... We have created
agencies to prevent bankruptcy and failure of their cooperative organ
izations, and we are erecting new instrumentalities to give credit facil
ities for livestock growers and the orderly marketing of farm products
... In furtherance of world stability we have made proposals to reduce
the cost of world armaments by $ 1 ,000,000,000 a year ... As the storm
grew in intensity we created the Reconstruction Finance Corporation
with a capital of $2,000,000,000 to uphold the credit structure of the
dne not to wve a few stockholders but to save
25,000,000 American families ... We are now in process of establish
ing a new system of home loan banks . . . these programs ... are
NOT IN THE PAST TENSE . . . THEY ARE IN ACTION. . .
"-.The opposition leadership insisted, as the price of vital recon
struction legislation, and over my protest, upon adding $300,000,000
TM Pfle Corttrtbntcd
'y the Moil Tribune
of costs to the taxpayer through public works inadvisable at this time
... I SHALL REPEAT MY PROPOSALS FOR ECONOMY ... The opposi
tion leadership in the house of representatives in the last four months
secured passage by the house of $3,000,000,000 in such raids . . . They
have been stopped . . . I shall continue to oppose raids upon
THE FEDERAL TREASURY...."
. . Our views upon sound currency require no elucidation . . . They
are indelibly a part of republican history and policies ... we hwe
AFFIRMED THEM BY PREVENTING THE DEMOCRATIC MAJORS
IN THE HOUSE FROM EFFECTING WILD SCHEMES O FUN CON
TROLLED INFLATION...." uiNiAjN-
-...NO COUNTRY CAN SQUANDER ITSELF TO PROSPERITY ON THE
RUINS OF ITS TAXPAYERS..."
. . FROM THE SPEECH OF ACCEPTANCE
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