RECOVERY DRIVE

Hokitika Guardian, 28 August 1933, Page 5

RECOVERY DRIVE

AMERICAN SUCCESS

PRESIDENT ROOSEVELT’S POLICY.

(United Press Association—By Electric

Telegraph—Copyright.)

NEW YORK, August 26

President Roosevelt, on Saturday, hailed the national recovery* 1 drive as a success, and in an address to the people of his home count} 7 , lie asserted that the downhill drift had definitely been turned and had now become an upward surge.: „The President.took- Occasion to make a full exposition of liiis'-' pblicy in tho industrial re-organisation of 77 the nation. He declared .that an end must

he made of the monopolies, find announced the new principle of the .“home com‘munity,”L4 namely, thajfc no individual, or no family has the

right to things which hurt their neighbours.

“It is true,” lib said, “that your Government hopes the building up. of wages that"are* now starvation wages, and that the shortening of the hours of work in every part of the United States will result -in a ' greater distribution of wages and all increase in the number of persons who. are employed; but we'-seek, -definitely, ail increase in the purchasing; power of the American people. It is unfair to our neighbours if' wp allow' our cattle 1 fto roam oir their, lands, orifwe maintain a pigsty on the street. It would become unfair to our neighbours 'if we sought to make an Unreasonable protii irom a- monopoly in service, such as the- electricity, or the gas, or the railroad: tickets, which they had to use.” 'vrt ' ■ 1 BANK GOVERNORS TO CONFER . NEW YORK, August 26. It is announced from Hyde Park that President Roosevelt' arranged on Saturday' for a, visit “here’’ r hext--week by Sir Mbntagu Norman,: head of the Bank of . England, upon the request of Mr Georg's Harrison, governor of the Federal Reserve Bank of New 7 York.