Analysis of Situation Indicates that America Holds Key to Near Future HIS is the second of a series of four articles on the above subject, The first appeared on March 16.
Across the waters of the Atlantic, the natural forces of recovery had begun to make themselves felt late in 1932 and would no doubt have been effective in good time if given free play. The stream of bank failures, however, had thrown the country into a panic and when President Roosevelt took office in March 1933 it was in a receptive mood for the drastic action he took and the sweeping legislation he pushed through Congress. The occasion suited his genius, Try one thing; if it doesn't work try another, But above all do something."
This was his watehword and it appealed to the temperament of the American people.
The result was a series of improved measures which no practical economist or financier could approve; ether well thought out nor self consistent it bore within itself the seeds of future trouble, which was not lessened by the subsequent Supreme Court invalidation of some fof the most Important Acts.
Text read from the printed page and cleaned; old type leaves the occasional error.