Show economic highlights lini that affe aff li 1 I 6 lore aills dividend verv ul ire k 0 mod tn tux tills or ol 11 r 1 ithmal hisil t vl I 1 w pe op s t r a ol 01 s to from jaent lof l of welfare CONI THIS silva E T tarlo nurtha ngo ago the ilia amera can people pol IIII entered enter e d a now new Y year on r they entered it i 04 profound that it would witness wit neIs indus I 1 trial mc recovery overy that it would prove tho the success or r failure of if the govern experiments chott alint wore were in migu rated tit lit 1932 that pint the treat great pro problems blews of deelan ing 01 distressed stress and uncertainty on the part of property owners ity I 1 nud industrial lea doid would lw ile to it at dimiat some boino solved bluy they hoped tile year might I 1 axi tilo alio turning point of the ions lorl of t lint at would show where wo we are kolier T alic it v gi 1 k twelve months in the history of our nation has ended and iW new year looms during the pal k avar linb bas licon been progress pro gross in lins has boon in ili others some bw imoh lino have 1411 in ulata act boin 1 havo sunk sillik into deeper lethard 41 there clifta tits hean baeli ani any in t 4 in ili regular employment is 19 during the cur currena reile biliter to are behind sum tallied ly by organized public reher Ilo Ite porta ports from froin filice fact gathering show that those ln ill I 1 d t r I 1 ci which soll bell goods 0 to o the consumer shoos 1 licki wd foode foo dg cothan coth ln fuel fu e I 1 arid no KO on fire doing hotter better than nt at ni ill kino but tho the reports show that alir basla basic Indus tricia those which employ tho ho balk of labor in ili normal athnel times and thu the greatest amount 0 of f capital such its ideel 1 rall railroad road 4 wro either static or tire sinking back toward the abysmal levels of 1932 in 11 sonic ron of which thoi the electric are a caso case in greaf volume of bushimi busl but due to higher taxes and legislated in ili creases tit in operating costs are earning less profit which lii ili growing hardships on millions of investors who depend on earn digs front from savings for living aix oix ea pell ses f t the most dirtiest aspect of the recovery problem Is this there therb enn can be no recovery without confidence fi and as yet uncertainty tia not confidence remains uppermost in the minds of millions people who have money that would bo be invested in industrial und ertah lin who would create jobs buy supplies build homeland homes home sand and store sand anil factories and develop farms fanna are frankly afraid they are afraid that their capital will bo bel taxed out of existence or regulated out of existence or condemned by legislative flat or destroyed by governmental competition with Indus industrial in which they might place it this element of 0 fear as down from the tha largest industries and affects the whole industrial structure the railroads and utilities for example face on the ono one hand tho very definite problem of reduced business rising tax taxes e diminished earnings while on oil tag other hand thoy are threatened with tile potentiality of government ownership under such conditions condition tion who can call be expected to invest money reely and without felt fear r to develop industries and bring back payrolls to boimal levels lo 10 vela the security of banks insurance companies and kIr lillar institutions in absolutely dependent upon the of basic american industries in ili which the depositors and policy holders money Is invested AllY anything thing which strikes nt the wel faro of basic industries strikes immediately fit at their welfare and ana nt at tho the welfare of every person pernon who lias tits a dollar lot in the bank or Is t the lie owner nf an all insurance policy pol ley to blame these on it aiani a party or a group would he be unjust national distress naturally br arcis cIs experiment tte life jibed iced tar for alleviation la Is so great that it seems ft as H if were worth trying hut but a grat responsibility fulls upon I 1 those given high public offices i I 1 in such dinies namely tile the re of protecting our coni rights land privileges arl i there can call bo be no greater ditty and 1 no morti ne public task it 3 uro male made they will be f erg org yew put it t corte re I 1 not continued tharo ilare me are aikus that this ta Is ber be ln ing alic now segna pointing gk 0 o it ii rap political and industrial lead leaders ers if these groups honestly seek to cooperate continued on oil vade ango at six 0 economic highlights continued from iota one to iron out li and our nation v hlll 11 j make real mil progress toward recovery wo we will regain the Irl eeles I 1 in gredlen of good times confidence let it bo be known lint invest inonia will bo be ill sod and protected ly by government blat lull the hollest holiest lins ills nothing to fear from political that ilia t savings will vill bo be hold held inviolate b those trusted with taju 11 I 1 nicot of our national VIA that private property rights vill bi ilfeld lirlin sacred ellid tho rond road to proal will stretch clearly ahead there bo be no despair ot on the lio part of our our halll 1 still f furello furt llo our industries or nn still prent great our intellectual abail it j linao licon been increased 1 by thi th ordeal of depression only tillit lc in cl elnet bas ba 0 d on oil tile ig 0 au duj constitutional ideals will 1 ln i 11 at talked not desti destroyed byca jj I 1 cecle now I 1 |