Former President Herbert Hoover, delivering the keynote address to the convention of the Young Republicans of the Western States here to-night, attacked President Roosevelt's fiscal policies.
He declared that unless spending were curtailed "one of three horsemen would ravage the land—Taxa. tion, Repudiation, or Infation. He styled the devaluation of the dollar "repudiation on the instalment plan—a police erin for clipping coin as Rome did during liber' decline—the administration _is clutched on the meshes of the gigantic spending bureaucracy it created"
Mr. Hoover also declared that until the Supreme Court had outlawed the URA, industry had been frightened and that this had resulted in further unemployment.
"The issue is," he said," the battle between straight and crooked thinking. We must awake from hypnotic slogans. He further declared that besides the danger of currency in-lation "printing press credit is an increasing danger and has already contributed to an increased cost of "The Government, which to large extent is financing the deficit by bank credits, resembles a dervish dance, whirling from deficits to Government bonds to bank credit, fo more spending. It is one of the oldest and most dangerous expedients of spendthrift governments, Mr. Hoover declared that he had the budget balanced in 1991 and 1032, "The foundations of permanent recovery," he continued, "would have been laid three years ago instead of being deterred for years."
Hence, he said, while the British jake a higher budget and balance it, Jand while taxes in Great Britain are decreasing, America's taxes are mounting higher and higher—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.