Do not let any calamity-howling executive with an income of $1,000 a day, who has been turning his employees over to the Government relief rolls in order to preserve his company's undistributed reserves, tell you ...that a wage of $11.00 a week is going to have a disastrous effect on all American industry.

I pledge you, I pledge myself, to a New Deal for the American People.

As with our military potential, our economic assets are more than equal to the task. Our independent farmers produce an abundance of food and fibre. Our free workers are versatile, intelligent, and hardworking. Our businessmen are imaginative and resourceful. The productivity, the adaptability of the American economy is the solid foundation-stone of our security structure.

We realize we must continually seek improved practices to insure the continuance of reasonable profits, together with scientific progress, individual initiative, opportunities for the little fellow, fair prices, decent wages and continuing employment.

Different from a great part of the world, we in America persist in our belief in individual enterprise and in the profit motive.

Without question the Fair Labor Standards Act starts us toward a better standard of living and increases purchasing power to buy the products of farm and factory.