FDR Economic Recovery Plan, Fireside Chat #4 1933/10/23

“Washington DC: In a dramatic message to the nation, the Chief Executive outlines in clear terms the steps the Government will take to speed economic recovery in America. Mr. Roosevelt describes striking plans for the stabilization of currency, and for mortgage and home relief.” sound of FDR speaking Fireside Chat #4.

Three months my friend since i have talked to the people of this country about our national problem during this period many things have happened and i am glad to say that the major part of them have greatly helped the well-being of the average citizen in the short space of these few months i am convinced that at least four million have been given employment or saying

It another way forty percent of those seeking work have found it that does not mean my friends that i am satisfied or that you are satisfied that our work is ended we have a long way to go but we are on the way we come to the relief for a moment of those who are danger of losing their farms or their homes i have publicly asked with the foreclosure on farms and

Chattels and homes be delayed until every mortgage or in the country has had full opportunity to take advantage of federal credit and i make the further request that if there is any family in the united states about to lose its home or its farm that family should telegraph at once either to the farm credit administration or the home loan corporation in washington

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Requesting their help i do not hesitate to say that although the prices of many products of the farm have gone up and although many farm families are better off than they were last year i am not satisfied it is definitely a part of our policy to increase the rise and to extend it to those products that are have as yet felt no benefit if we cannot do this one way

We will do it another but do it we will when we have restored the price level we shall seek to establish and maintain a dollar which will not change its purchasing and debt paying power during the succeeding generation i said that in my message to the american delegation in london last july and i say it now once more our dollar is now altogether too much influenced

By the internal policies of other nations therefore the united states must take firmly in its own hands the control of the gold value of our dollar and as a further effective means to that end i am going to establish a government market for gold in the united states therefore under the clearly defined authority of existing law i am authorizing the reconstruction

Finance corporation to buy or sell gold at prices to be determined from time to time after consultation with the secretary of the treasury and the president this is a policy and not a mere expedient i have told you the story of our steady mature work in building our common recovery in my promises to you both before and after march 4th i made two things plain first

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That i pledged no miracles and second that i would do my best i thank you for your faith our troubles will not be over tomorrow but we are on our way and we are headed in the right direction

Transcribed from video
FDR Economic Recovery Plan, Fireside Chat #4 1933/10/23 By UniversalNewsreels