ROOSEVELT'S WORK EULOGISED

Evening Post, Volume CXV, Issue 80, 5 April 1933, Page 8

ROOSEVELT'S WORK EULOGISED

A more permanent stabilisation of United States securities, the wiping out of doubtful small banks, and the prevention of the manipulation of public securities by powerful groups, are some of the good things that Mr. Collan, of Equities Ltd., Sydney, a through passenger by the Makura from San Francisco, sees in the woi'k of America's new President. '

"I think that President Eoos'evclt has done marvellously well since his election," said Mr. Collan. "He has made the most positive steps taken in America since the pre-war period. There are a few little things that do not appeal to us because wo have not the American outlook, but on the whole the action being taken will make for greater stability in the United States. The measures taken may result in a drop in security prices, but I believe that the deflation policy of drastic economies in Government administration will put .America on her feet within the next few months, and will have repercussions throughout the world. Uncle Sam will be getting from under the weather before the end of this year.

"The day of the small bank is over. You have seen the end of bank crashes in the United States. The day of the big banker and speculator with, public funds, the day of big group manipulation of securities, is definitely over. When they haye arrested men like Harriman, and threatened to indict men like Mitchell, of the National City Bank of Njew York, one realises the thoroughness of the work being done."