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BEGINSThe BEGINS BIGINS BEGINSThf : Thf ThP The American Amencan people are entering the New N'ew ' ' Year Yearin Yearin 111 in a far different mood than the one which enie eme enle sped spedus < ipedus ped pedus us twelve months ago Then . we v.e ve were apparently pros prosparous prosperous prosperous parous perous and at peace " , with ith the . world v.orld vorld Corporatlons Corporations Corporatlonswere Corporationswere Corporationswere were vicing viemg with one another in 111 granting grantlng extra dlVl diva dlVldends divadends dividends dends and bonuses Unemployment seemed to be besteadily besteadily besteadily steadily decreasing ) just ust as business was continuallY continuallYcllmbing continuallyclimbing continuallyclimbing cllmbing climbing There seemed no reason to feel feeJ that v.e ve we v.ewere wewere . wewere were in danger of becoming Involved in a critical crftical v.ay vay way v.aywith waywith . waywith with an an/ an anforeign ; ) . / foreign power poer po\\ po \ er Politically poJitlcally we seemed v.ayI to tohave tohave tohave I have entered another era of good feelmgBut feelingBut feeling feelmg feelingBut But the unfolding unfo1dmg of the year 1937 brought a de declded detided < iccided clded tided change Labor troubles followed fo11ov.OO fo11ovOO . one another anotherI anotherm anotherIn I In rapid succession succeSSlon taxes mounted and a"1d a1d aid " business busmess 'n n 'nstead 'nstead 'nstead nstead ' stead of continuing to climb began to level off nil ane anc anc.then ancthen . . I Ithen then t to l < start a decline dechne The stock market hesitated hesitatednalted hesitatednalted hesitatednalted nalted ard and then put on one of the sharpest and andseverest andseverest andseverest severest declines in the history of the exchangeThe exchangeThe exchange exchangeThe The udden sudden 1 > s > attack of Japan on China Chma and the theresilltant theresultant theresultant resilltant resultant bombing of American Amencan ships sJups and the sml sink sinking sinKing ! : mg ing of a gunboatJth gunboat with \\Jth Jth \ loss of life brought us mto into intothe intothe I . the midst of an international Int'rnational Intrnational ( ' crisis .hlc'1 .hlc1 hlc1 shic-i shic i . ah ' - has not notI notyet notet I yet } et been soJvedThe solvedThe solved soJved solvedThe The political el eia a of good feeling feelmg wa was . disrupted disruptedby disruptedby I Iby by the long figpt figjht fig it in m congress over the proposal of the thepresident thepresident thepresident president to make o\er o er oter \ the supieine suplelDe supiene ) couit coult court rollo\\mg rollo mg Ibllowing rollomgthis Ibllowingthis Followingthis \ this came the special speciaJ session of congress which whichfailed \ whichfailed hlch hlchfalIed falIed failed to accomplish accompbsh t1"eork tre t1"e t1e tie " \ work \\ork ork set out for it lt and r re resuited rrsuited . suited among other things in the emasculation and anddefeat anddefeat anddefeat defeat of the tht : " presidents president s pet v . wages ages and hours blllAt billAt bill blll billAt At the beginning beglnnmg of 1938 therefore the Amen Anieri Amencan Anierican Amencan can ' people 'People are confronted with an entirels entirely entlrel ) different differentset differentset differentset set of problems probJems than the ones the thes they } had to face faee at atthe atthe atthe the beginning begmnmg of 1937 It is lS admitted admltted that . we v.e ve aie ale m in ina ma ina a business busmess recession Justhat Just \ what \\hat hat that means meaI\S meaI S \ nobodY nobodYat nobodyat nobodyat at this moment can tell Everyone hopes that the thelecesslon thesecession thelecession lecesslon secession will wlll be short lived and that we will soon soonagam soonagain soonagain agam again take up the march toward normalcy Just as ashe ashe ashe he fervently expresses theIsh the \ wish \\Ish Ish that oui OUl foreigntroubles foreign foreignhoubles foreigntioubles houbles troubles can be settled hrnoribly hrnor1bly and peacefullyThJs peacefullyThis peacefully peacefullyThis This ThJs is no time for ' gloom g'Ioom gIoom spreading spreadmg Already Alreadythere Alreadythere Alreadythere there are signs oil 011 oft returning returmng sanity samty in the solution of ofmany ofmany ofmany many of our economic econonUc dlfflcultJes-elgns dlfflcultJes elgns difficulties--ergns difficulties ergns difficulties - - - aigns that the theda thedays thedass da days s of roseate experimentation expfmmentatlon are about over andsooner and andsooner andsooner sooner than antclpatede anticipated antclpated ! \ we \\e e will w1ll get back on sohd solid sohdground solidground solidground ground again In all effOl effoi effoits ts is to end tne the recession and andsohe andsohe andsol\e andsol e sohe \ our foreign pioblems ploblems problems in an American Amencan Amencanay way \\ay ay \ the theadmlmstratlon theadministration theadministration admlmstratlon administration will of course have the support of ofthe ofthe ofthe the American Amencan people But the : period penod of blind following fol folloing following lo\\ing lo ing lowing \ in m domestic economic econonuc and social e\.perlmenta e.perlmenta e .perlmenta perlmenta perimenta e.perlmentahon e e\perimentation e perimentation \ . perimentation hon tion see see-ns see ns see'11S see11S ' - ns about ended That is one of the hopeful hopefulSl hopefulsigner hopefulsigna Sl signer . for the beginning begmmng of 1938 |