National Affairs: Message

In 1932 the U. S. people made a decision of far greater historical import than the choice of a new Chief Executive. For better or for worse, the U. S. people decided that it would not put up with deflation—the price that capitalism has always had to pay for its periodic excesses. What the U. S. wanted was a President who would "do something." And doing something meant preventing the country from going through the wringer.

Herbert Hoover tried to ease the pain of liquidation but the voters wanted complete relief. So they elected the other candidate. Franklin Roosevelt ditched his economy...

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