Country Squire in the White House

By John T. Flynn | Go to book overview

that was a flop. Why shouldn't I experiment a little with silver?"1


VI
Roosevelt's Big Gun

IN VIEW OF these astonishing failures, what was the secret of the President's immense popularity and his devastating defeat of the Republicans in 1936?

The answer, of course, is extremely simple. Since March 4, 1933, Mr Roosevelt has had in his hands, to be spent almost at his own will, twenty-two billions of dollars for recovery and relief. This does not include the money spent to run the government--all the many departments with the army and the navy. This is money, over and above all the expenses of the government, that Congress put into his hands to spend where and how he chose, to bring recovery and relief.

This sum of money is almost inconceivable to the mind of man. What is equally important is that these twenty- two billion dollars was money raised without a single penny of taxes on anyone. It was borrowed at the banks. It is all still due to the banks or those to whom the banks have sold the paper. It is the bill that the people of America owe for Mr Roosevelt's seven years and must one day find some means of paying.

The spending began with Hoover. By the time he left office he had run up a deficit of about four billion dollars. Garner, Democratic leader, denounced him. "When we come into power," he cried in the House, "we'll give the country a demonstration in real economy." The most voluble attacks on Hoover's extravagance came from Gov

____________________
1
Related to the author by the late Senator William L. Borah.

-90-

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Country Squire in the White House
Table of contents

Table of contents

  • Title Page iii
  • A Warning v
  • Contents vi
  • I - A Tide and a Name 1
  • III - Building the New Deal 25
  • IV - The Crisis 47
  • V- The New Deal--Second Edition 68
  • VI - Roosevelt's Big Gun 71
  • VII - The President Goes to War 90
  • VIII - The White House, Inc. 98
  • IX - The Politician of the Lord 107
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