President Roosevelt to-day. signal ized the completion of the national Administration's programme for economic recovery, as he informed the nation that "we have passed the peak of appropriations."
Ju an address broadcast to all parts of the country by radio and which was generally regarded as the opening of his campaign for re-election to the Presidency in 1938, Mr, Roosevelt savagely castigated arties of the New cal.
Pointing out that three million men and women, out of work at the opening of his "Administration, hus been re-employed since the early part of 3083, the President declared, "We have passed the peak of appropriations. Revenues, without the imposition of ow taxes, are increasing. We look forward to a decreasing dedi."
Continuing his summary of the nation's present well-being, the Presldent told his hearers, "The credit of the Government is higher than that of any other great nation in the world, despite the attacks on. that credit' by a few individuals and orantzations which seek to dictate how to run the national treasury and how to let the needy starve."
Mr, Roosevelt urged his listeners to recall the prosperity prevailing in the [United States between 1924 and 1929, when "wild speculation was preparing the way to leave the public holding jthe bag. Banks wore closing at the Jexpense of their depositors. "Farmers Jwere never certain what their crops would bring. Slums were unheeded. Education was forgotten. Interest charges were usurious. Child labour continued, Starvation wages prevailed, [Mammon ruled America,"
"Remember the Fool's Paradise"
'The President admonished his audl-Jence to "remember the fools' paradise of the years before the crash. harp too much on the years that. followed, when the nation slipped ever downward to the inevitable point when the mechanics of civilization ame, to a dead stop on March 3, 1033."
Thereafter, Mr. Roosevelt pointed out, the Administration re-opened the banks, guaranteed their deposits, cor ceted child labour and low wages, regulated the securities exchanges and
Text read from the printed page and cleaned; old type leaves the occasional error.