2 Nov. 22.
The Wall Street slump has made President Hoover's task incredibly difficult. His reputation as a business man and as administrator, his _exemplific tion of the "engineering mind, led' the people to believe that his incumbency in the White House would produce an era of unparalleled prosperity. As a matter of fact, he was no sooner inaugurated than the market in Wall Street began to respond to fear psychology and he has not Jboen. in office a year, yet the market totally collapsed, produc-~ municipal building operations, new engineering enterprises are to be encouraged, amounting to thousands of millions of dollars, In this manner, wealth is to be redistributed, but the process will produce works of permanent value to the country, so that whereas a larger number of in: dividuals will be better off because of increased employment directly and indirectly in these enterprises, at the same: time wealth will be created through the agencies so brought into existence. This is the response of the "engineering mind" to a critical economic.and psychological situation.. He immediately converts the public fright into
Text read from the printed page and cleaned; old type leaves the occasional error.