Four months from the day Alfred Emanuel Smith is inaugurated President, if he is inaugurated, practically every industry in the U. S. will close its doors and absolutely cease functioning. Of the truth of this sweeping prediction, often made by Republicans, there cannot be the slightest doubt.

The same prediction is made sometimes by Democrats—that in the event Herbert Clark Hoover is inaugurated on March 4. the "vast," the "stupendous," the "intricate," "delicate," "finely adjusted" mechanism of U. S. business to which Nominee Hoover so often and so seriously alludes, will arrive...

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