Salt Lake Telegram | 1934-10-26 | Page 4 | President and Bankers

PRESIDENT AND BANKERS I TP F AN ADDRESS could by the use of or the right words pleasingly delivered dispel the clouds which hang over the business land laud cape the presidents president's talk to the American Bankers Bankers' association l in Washington Wednes Wednesday day da- evening g would turn the trick Unfortunately Unfortunately it will take more than that to do it Taken at face value value- what he said should remove remove remove re re- re- re move fears that the administration drive is is toward a socialist state lie He put emphasis on ou assurances quite to the c contrary He lie defined the American notion of a profit system and affirmed affirmed affirmed af af- af- af firmed his adherence to it He declared real fulfillment comes conies in the general recognition of the rights of each factor in n the community community community and proclaimed the time ripe for an al alliance alliance alliance al- al liance of business and banking industry and agriculture labor and capital Upon such a foundation neither a socialist nor a fascist structure political or econom economic c ma may be erected The rhe major portion of or the address while lc essentially essentially es es- es- es generalizations in elementary ceon economics ceo ceo- n was nevertheless a stirring ti tion n of the traditional Ame American ican idea that wealth should shoud come conic as s the thc reward of hard lIard labor Jabor of mind inina and hand and aud that it grows when men c cooperate opera e Taut but stagnates in an atmosphere atmosphere atmosphere at at- of misunderstanding and Platitudes were not not lacking lacking in iii the thead ad address but they w were re engagingly y phrased and were perhaps offered as ts a triple play play to to to rc remind remind re re- mind the nation in a matter of fundamentals to doubting bankers and mildly to those whom the pre president ident ma may feel are misu and misrepresenting him What the bankers and andl many business men wanted President Roosevelt to sa say was left un un- said There was here was no promise to balance th the budget no hint of intended change of policies policies poli poll cies des with regard t to government regulation of business no word about a tax program nor about leaving off present experiments experiments' or beginning beginning beginning be be- ginning new ones nothing about any future f plan to effect an entente cordiale between bet cap capi ital and labor About all of these things the country wants to know It is possible that if the convention bad been held after instead of less of-less less than two weeks before November 6 he lie r would have llave been willing lilling to reveal more Mildly phrased but unmistakable was the thic presidents president's call for a truce between the country's country's country's coun coun- try's bankers and the administration Politely Polite Polite- ly he told them get down off a high horse when he remarked Government by the necessity ne ne- of things must be the leader must bethe be bethe bethe the judge of the conflicting interests of all groups i in the community including bankers It was as much as to say that he lie le had lad heard beard beardall all ll they had pad said sad about the about the administration and its policies b but t that until someone who can I and will start tart things moving does so Washington Washington Wash Wash- ington will carry earry on according to its appraisal L of necessities Except for the radical non as as- the bankers are in status quo ante