![]() C., offers to take a fair portion of the risk. I think the bankers of the country can fairly be expected to participate in loans where the Government, through the (Reconstruction Finance Corporation) R. (6) The Congress has properly reduced taxes on small corporate enterprises, and has made it easier for the Reconstruction Finance Corporation to make credit available to all business. And by improving the Federal Housing Act, the Congress has made it easier for private capital to build modest homes and low rental dwellings. (5) The Congress has set up the United States Housing (Administration) Authority to help finance large-scale slum clearance and provide low rent housing for the low income groups in our cities. (4) The Congress has coordinated the supervision of commercial aviation and air mail by establishing a new Civil Aeronautics Authority and it has placed all postmasters under the civil service for the first time in our national history. Different from a great part of the world, we in America persist in our belief in individual enterprise and in the profit motive but we realize we must continually seek improved practices to insure the continuance of reasonable profits, together with scientific progress, individual initiative, opportunities for the little fellow, fair prices, decent wages and continuing employment. (3) The Congress has provided a fact-finding Commission to find a path through the jungle of contradictory theories about the wise business practices - to find the necessary facts for any intelligent legislation on monopoly, on price-fixing and on the relationship between big business and medium-sized business and little business. Fortunately for business as a whole, and therefore for the Nation, that type of executive is a rarity with whom most business executives most heartily disagree. Without question it starts us toward a better standard of living and increases purchasing power to buy the products of farm and factory.ĭo not let any calamity-howling executive with an income of $1,000.00 a day, who has been turning his employees over to the Government relief rolls in order to preserve his company's undistributed reserves, tell you - using his stockholders' money to pay the postage for his personal opinions - tell you that a wage of $11.00 a week is going to have a disastrous effect on all American industry. That Act -applying to products in interstate commerce - ends child labor, sets a floor below wages and a ceiling over hours of labor.Įxcept perhaps for the Social Security Act, it is the most far-reaching, the most far-sighted program for the benefit of workers ever adopted here or in any other country. (2) After many requests on my part the Congress passed a Fair Labor Standards Act, what we call the Wages and Hours Bill. (1) The Congress improved still further our agricultural laws to give the farmer a fairer share of the national income, to preserve our soil, to provide an all-weather granary, to help the farm tenant towards independence, to find new uses for farm products, and to begin crop insurance. I mention tonight only the more important of these achievements. The Congress also failed to meet my suggestion that it take the far-reaching steps necessary to put the railroads of the country back on their feet.īut, on the other hand, the Congress, striving to carry out the Platform on which most of them were elected, achieved more for the future good of the country than any Congress did between the end of the World War and the spring of 1933. On the one hand, the Seventy-Fifth Congress has left many things undone.įor example, it refused to provide more businesslike machinery for running the Executive Branch of the Government. Barring unforeseen events, there will be no session until the new Congress, to be elected in November, assembles next January. The Seventy-Fifth Congress, elected in November, 1936, on a platform uncompromisingly liberal, has adjourned. As part of the democratic process, your President is again taking an opportunity to report on the progress of national affairs, to report to the real rulers of this country -the voting public. C., and yet this talk tonight will be referred to as a fireside talk. This is one of the warmest evenings that I have ever felt in Washington, D. ![]() I think the American public and the American newspapers are certainly creatures of habit. ![]()
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