,:AT'S ,BEH9D ! 0,NEW ,DEAL08 

,PEOPLE 3 

,AU?OR 3 ,PAUL ,MATTICK 

,TEXT 3 

,PUBLI%$3 9 ,9T]NATIONAL ,C\NCIL ,CORRESPOND5CE ,VOL4 #a1 NO4#c1 ,DECEMB] #a#i#c#d1 PP #a#h-#b#b4 
,S\RCE3 ,ANTONIE ,PANNEKOEK ,>*IVES 
,TRANSCRIB$3 BY ,GRAHAM ,DY] 

,! ,NEW ,DEAL IS NO H>B+] ( A 0NEW SOCIAL ORD]01 NOR IS ITS APO/LE1 
,FRANKL9 ,DELANO ,ROOSEVELT1 SELF-PROCLAIM$ ,MESSIAH = ! 0=GOTT5 MAN01 ! 
REALLY UNSELFI% & PUBLIC-SPIRIT$ 9DIVIDUAL HE IS PORTRAY$4 

,ROOSEVELT'S ELECTION WAS 5G9E]$1 JU/ LIKE ALL O!R PREVI\S ELECTIONS1 
BY A GR\P ( 9DIVIDUALS :OSE ECONOMIC 9T]E/S REQUIR$ URG5T GOV]NM5TAL 
AID4 

,! FALL ( #aicb SAW ! COMPLETE COLLAPSE ( ,AM]ICAN 9DU/RY & A RIS+ 
TIDE ( AGR>IAN DISCONT5T4 ,! CURR5T OCCUPANT ( ! ,:ITE ,H\SE1 ,H]B]T 
,HOOV]1 PLAC$ !RE BY ! ,MORGAN & ,MELLON F9ANCIAL 9T]E/S1 APPE>$ 
TOTALLY OBLIVI\S TO ! DESP]ATE /RAITS ( !SE TWO GR\PS4 ,IT WAS ONLY 
NATURAL ?AT !SE GR\PS %\LD /RIVE = ?AT POLITICAL P[] 9 ! COM+ 
ELECTION :I* W\LD 5ABLE !M TO PASS B5EFICIAL LEGISLATION = !MSELVES4 

,:Y WAS ,ROOSEVELT SELECT$ TO 0LEAD0 ! C\NTRY \T ( ECONOMIC *AOS8 ,NOT 
ONLY BECAUSE HE HAD CAU<T ! NATION'S ATT5TION AS A MU*  ADV]TIS$ 
0LIB]AL0 POLITICIAN1 BUT EV5 MORE SO BECAUSE HIS [N ECONOMIC 9T]E/S W]E 
ID5TICAL ) ?OSE ( ! GR\P PU%+ HIS C&IDACY4 

,JAMES ,ROOSEVELT1 FA!R ( ,FRANKL9 ,D41 ONE-TIME VICE-PRESID5T ( ! 
,DELAW>E @& ,HUDSON ,R4,R41 ACCUMULAT$ SU* A TREM5D\S =TUNE 9 RAILROAD 
ORGANIZATION1 BO? D[N ,S\? FOLL[+ ! ,CIVIL ,W>1 & 9 ! ,EA/1 ?AT HE 
WAS CONSID]$ ONE ( ! FIVE RI*E/ M5 9 ,NEW ,YORK ,CITY4 ,AL?\< Y\NG 
,FRANKL9 ,D4 HAD EXPRESS$ A DESIRE TO 5T] ! ,NAVY1 ! ELD] ,ROOSEVELT 
P]SUAD$ HIM TO /UDY LAW 9/EAD & ?US BETT] EQUIP HIMSELF = ! 
ULTIMATE MANAGEM5T ( ! EXT5SIVE ,ROOSEVELT HOLD+S4 ,FOLL[+ GRADUATION 
FROM ,H>V>D & ,COLUMBIA ,LAW ,S*OOL1 ,ROOSEVELT 5T]$ ! (FICES ( ! BE/ 
E/ABLI%$ FIRM ( MANAGEM5T LAWY]S 9 ,NEW ,YORK ,CITY4 ,:ILE 9 !IR EMPLOY1 
HE DIRECT$ ! AFFAIRS ( ! HUGE ,A/OR E/ATE1 & !REBY E/ABLI%$ A V]Y 
CLOSE FRI5D%IP ) ,WILLIAM ,V9C5T ,A/OR1 ONE ( ! C\NTRY'S MO/ 
9FLU5TIAL 9DU/RIALI/S & BANK]S4 ,9 A SPIRIT ( FUN1 ,ROOSEVELT !N 
5T]$ POLITICS4 ,RUNN+ = ! /ATE ,S5ATE ON ! ,DEMOCRATIC TICKET1 HE 
SURPRIS$ EV]YONE BY CAPTUR+ ! (FICE4 ,NO SOON] WAS HE SEAT$1 ?AN 
,ROOSEVELT1 ! COMP>ATIVELY UNKN[N1 DREW NATIONAL ATT5TION TO HIMSELF BY 
LEAD+ AN OPPOSITION TO ! ,TAMMANY NOM9ATION = ,U4,S4 S5ATOR 79 ?OSE DAYS1 
#a#i#a#a1 !Y W]E ELECT$ BY ! /ATE LEGISLATURE74 ,?US HE GA9$ ?R\< ?IS 
ONE ACT ?AT UNF\ND$ REPUTATION = UNSELFI% DEVOTION TO ! PEOPLE'S 
9T]E/S ?AT HAS 5DUR$ TO ?IS DAY4 ,NEXT ,ROOSEVELT BOO/$ ,WOODR[ ,WILSON 
= ! ,DEMOCRATIC PRESID5TIAL NOM9ATION 9 #a#i#a#b1 /UMP+ = HIM AFT]W>DS 
DUR+ ! SUCCESSFUL ELECTION CAMPAIGN4 ,AS A REW>D1 ,WILSON APPO9T$ HIM 
,ASSI/ANT ,SECRET>Y ( ! ,NAVY4 ,ROOSEVELT SP5T SEV5 YE>S 9 ?IS POSITION4 
,SEV]AL MON?S AGO1 ! ,ADM9I/RATION PUBLICITY AG5CIES MADE MU* ( ! ,/ATE 
DEP>TM5T'S ORD] REMOV+ ! ,U4,S4 ,M>9ES :O HAD BE5 /ATION$ 9 ,SAN 
,DOM+O 7,HAITI74 ,!Y DISCREETLY NEGLECT$ TO M5TION ?AT IT WAS ?IS SAME 
,FRANKL9 ,D4 ,ROOSEVELT :O S5T !M !RE 9 #aiac 9 HIS FIR/ (FICIAL ACT AS 
,ASSI/ANT ,SECRET>Y O/5SIBLY TO PROTECT ,AM]ICAN LIVES1 ACTUALLY TO PROTECT 
,AM]ICAN 9VE/M5TS1 ,A/OR 9T]E/S AMONG O!RS6 ,DUR+ ! SUMM] & FALL 
( #a#i#a#e1 \R PEACE-LOV+ ,AS/4 ,SECRET>Y ( ! ,NAVY BEGAN PREP>+ ! ,NAVY 
= EV5TUAL P>TICIPATION 9 ! ,WORLD ,W>1 TWO YE>S BE=E \R ACTUAL 5TRY6 
,9 ADDITION1 HE DEVELOP$ A GIFT = ORATORY & BEGAN TO ADVOCATE PUBLICLY = 
A MU* L>G] ,NAVY4 ,?IS MISSION>Y WORK WAS L>GELY 9/RUM5TAL 9 CAUS+ 
,PRESID5T ,WILSON TO SPONSOR ! L>GE/ ,NAVY APPROPRIATION BILL UP TO ?AT TIME4 
,PASS$ 9 #a#i#a#f1 IT PROVID$ AN APPROPRIATION ( @s#c#b11 = NAVAL 
EXPANSION4 

,AFT] ,AM]ICA WAS PROPAG&IZ$ 9TO ! W>1 ?ANKS TO PAID ,ALLI$ 
PROPAG&A PLUS ! HELP T5D]$ BY ,AM]ICAN F9ANCIAL 9T]E/S1 7,J4,P4 ,MORGAN 
@& ,CO471 & Y\NG J+OI/S ( ! ,ROOSEVELT TYPE1 \R H]O PROV$ HIMSELF QUITE 
CAPABLE4 ,ROOSEVELT 9V5T$ ! 0,MACY ,BO>D0 ! FIR/ GOV]NM5TAL W> LABOR 
BO>D1 :I* COORD9AT$ WAGES 9 EV]Y P>T ( ! C\NTRY4 ,! ,NATIONAL ,W> 
,LABOR ,BO>D DEVELOP$ FROM ?IS4 ,?IS LATT] ,BO>D %[$ ITS REG>D = ,LABOR 
BY =BIDD+ ALL /RIKES = ! T]M9ATION ( ! W>4 ,ROOSEVELT ALSO 
S]V$ AS REPRES5TATIVE ( ! ,NAVY ON ! ,W> ,LABOR ,POLICES ,BO>D1 *>G$ 
) WORK+ \T LABOR POLICIES4 ,9 HIS CAPACITY AS ,NAVY LABOR EXP]T1 ,ROOSEVELT 
HELP$ 0>BITRATE0 LABOR DISPUTES P]TA9+ TO ! ,NAVY CON/RUCTION Y>DS4 
,?IS WORK BR\<T HIM 9TO CONTACT ) V>I\S ,AM]ICAN ,F$]ATION ( ,LABOR 
(FICIALS :O ALL DISPLAY$ GREAT PATRIOTISM & EXTREME REASONABL5ESS 9 !IR 
DEAL+S4 

,! GREATE/ ( !SE PATRIOTS & ! MO/ REASONABLE 9 HIS DEM&S WAS ! 
VICE-PRESID5T ( ! ,9T]NATIONAL ,ASSOCIATION ( ,MA*9I/S4 ,ROOSEVELT NEV] 
=GOT ! FAVORS HE RECEIV$ FROM ?IS (FICIAL1 & SO :5 ! ,C4,C4,C4 WAS 
9/ITUT$ LA/ YE>1 AT ITS HEAD WAS PLAC$ ?IS /]L+ PATRIOT1 ,ROB]T 
,FE*N]4 

,AFT] HELP+ TO W9 ! W> TO 0MAKE ! ,WORLD ,SAFE = ,DEMOCRACY01 
,ROOSEVELT RETURN$ TO CIVILIAN LIFE1 RESUM+ HIS LAW PRACTICE4 ,AT ,ALFR$ ,E4 
,SMI?'S BEHE/1 HE RE5T]$ POLITICS1 GA9+ ! GOV]NOR%IP ( ,NEW ,YORK 9 
#a#i#b#h1 & AGA9 9 '#c4 ,DUR+ ?IS P]IOD1 ! ,GOV]NOR DISCOV]$ HE POSSESS$ 
A REM>KABLE RADIO VOICE1 = A POLITICIAN4 ,FROM SU* HUMBLE BEG9N+S SPRANG 
?AT GREAT ,AM]ICAN ,9/ITUTION3 ,9TIMATE ,FIRESIDE ,*ATS ,) ,! ,PRESID5T 
7?R\< ! C\RTESY ( BO? BROADCA/+ SY/EMS74 

,HIS ADM9I/RATION AS GOV]NOR1 9 SPITE ( PRESS-AG5CY TO ! CONTR>Y1 
%[S NO B5EFITS = LABOR4 ,! LEGISLATION TO :I* ,ROOSEVELT PO9TS ) 
GREATE/ PRIDE AS A BOON TO LABOR1 ! ,NEW ,YORK ,/ATE ,OLD ,AGE ,P5SION ,ACT1 
DOESN'T B5EFIT LABOR AT ALL4 ,NOT ONLY MU/ APPLICANTS BE #g YE>S OR OV] 
7SURELY NO HELP TO MO/ WORK]S :O NEV] REA* #f1 LET ALONE #g1 BECAUSE ( 
MOD]N WORK+ CONDITIONS71 BUT ! PROC$URE IS SO LOAD$ ) R$-TAPE ?AT 
REALLY NE$Y 9DIVIDUALS )\T MONEY = LEGAL AID CAN H>DLY HOPE TO SECURE 
ITS MEAG] B5EFITS4 

,ROOSEVELT IS NOT ! ONLY MEMB] ( HIS FAMILY ) EXT5SIVE RAILROAD 
HOLD+S4 ,HIS FIR/ C\S9 ON HIS MO!R'S SIDE1 ,LYMAN ,DELANO1 IS TODAY ,*AIRMAN 
( ! BO>D ( DIRECTORS ( ! ,ATLANTIC ,COA/ ,L9E ,R4,R4 ,CO41 ! ,L\ISVILLE @& 
,NA%VILLE1 & HAS AN 9T]E/ 9 MANY O!RS4 ,O!R RELATIVES >E ,J4,J4 ,PELLEY1 
REC5TLY RESIGN$ PRESID5T ( ! ,NEW ,YORK1 ,NEW ,HAV5 @& ,H>T=D ,R4,R41 & A 
%>EHOLD] 9 O!RS2 & ,MR4 ,CURRY ( ! ,UNION ,PACIFIC4 ,ROOSEVELT'S ?REE 
MO/ 9TIMATE FRI5DS >E LIKEWISE 9DU/RIALI/S ) HUGE RAILROAD HOLD+S4 
,! A=EM5TION$ ,V9C5T ,A/OR1 BESIDES EXT5SIVE 9T]E/S 9 9DU/RY & 
OCEAN TRANSPORTATION1 IS A DIRECTOR ( ! ,GREAT ,NOR!RN ,RY4 ,CO41 & ! 
,ILL9OIS ,C5TRAL4 ,WM4 ,A4 ,H>RIMAN1 HEIR ( ! OLD RAILROAD K+1 IS A DIRECTOR 
( BO? ! ,ILL9OIS ,C5TRAL & ! ,UNION ,PACIFIC4 ,WM4 ,K4 ,V&]BILT HOLDS 
DIRECTORATES 9 ! ,NEW ,YORK ,C5TRAL1 ! ,MI*IGAN ,C5TRAL1 & O!R RAILROADS4 
,BESIDES !SE RELATIVES & CLOSE FRI5DS1 ALL :O SUPPORT$ ,ROOSEVELT'S 
PRESID5TIAL CAMPAIGN ) SUB/ANTIAL F9ANCIAL CONTRIBUTIONS1 ALMO/ EV]Y 
O!R RAILROAD MOGUL 9 ! C\NTRY LIKEWISE BACK$ HIM3 ,ROB]T ,GOELET1 ,>?UR 
,C4 ,JAMES1 ,$W>D ,S4 ,H>KNESS1 ,C4,S4 ,MC,CA91 ,DAVID ,BRUCE1 ,H[>D ,BRUCE1 ,WM4 ,T4 
,KEMP]1 & ,F4,H4 ,RAWSON4 ,! RAILROAD GR\P BEH9D ,ROOSEVELT NUMB]$ ALMO/ 
EV]YONE BUT1 SIGNIFICANTLY 5\<1 ! REPRES5TATIVES ( ! ROADS CONTROLL$ 
BY ! ,J4,P4 ,MORGAN F9ANCIAL 9T]E/S4 

,! RAILROADS HAD 9DE$ TAK5 ! WOR/ BEAT+ ( ANY CAPITALI/ GR\P 
DUR+ ! P]IOD ( ! CRISIS1 & C]TA9LY NE$$ HELP4 ,= EXAMPLE1 9 
#a#i#c#b1 #ae SELECT$ RAILROADS %[$ A DEFICIT ( @s#a#e1#f#c#d1 COMP>$ TO 
E>N+S ( @s#h#i#f1#h#g1 9 #a#i#b#i4 ,! RAILROAD EQUIPM5T 9DU/RY L$ BY ,WM4 
,WOOD9 ALSO M>%AL$ BEH9D ,ROOSEVELT4 

,ANO!R SECTION ( 9DU/RY ?AT RALLI$ BEH9D ,FRANKL9 ,D4 WAS ! M9+1 
P>TICUL>LY ! PRECI\S METALS - GOLD & SILV] - GR\P4 ,MO/ PROM95T H]E 
W]E ! ,GUGG5HEIM & ,B]N>D ,M4 ,B>U* 9T]E/S1 EX]T+ A VIRTUAL MONOPOLY 
ON SILV] ?R\< CONTROL ( ! ,AM]ICAN ,SMELT+ @& ,REF9+ ,CO41 :I* EI!R 
EXTRACTS OR REF9ES = O!RS ALMO/ ONE-HALF ( ! WORLD'S SILV] PRODUC$ 
YE>LY4 ,9CLUD$ ) !SE IS ALSO ,WM4 ,R4 ,HE>/1 NEWSPAP] PUBLI%]1 L>GE 
,MEXICAN SILV] M9E [N] & %>EHOLD] 9 ! ,HOME/AKE ,GOLD ,M9+ ,CO4 ,?IS 
GR\P 9 ADVOCAT+ GOLD DEVALUATION & GREAT] USE ( SILV] = MONET>Y 
PURPOSES 5LI/$ ! L>GE F>M]S' VOTE :O DEM&$ ?AT F>M PRODUCT PRICES 
BE RAIS$ ?R\< MONET>Y LEGISLATION4 

,A POLITICAL P>TY ?AT PROMIS$ TO RAISE F>M] PUR*AS+ P[] 7FALL5 9 
#aicb TO ALMO/ ONE-HALF ?AT ( #a#i#b#i7 WAS B\ND TO GA9 ! SUPPORT ( 
9DU/RIAL 9T]E/S DEP5D5T ON ! F>M]S & SO WE F9D ! ,MC,CORMICKS1 
[N+ ! MONOPOLI/IC ,9T]NATIONAL ,H>VE/] ,CO41 & O!R F>M IMPLEM5T 
& F]TILIZ] MANUFACTUR]S JO9+ ! ,ROOSEVELT B&-WAGON4 

,M9OR 9DU/RIAL 9T]E/S 9CLUD$ ! LIQUOR CONC]NS :O WANT$ REPEAL ( 
! ,PROHIBITION ,AM5DM5T1 & CON/RUCTION 9DU/RY MOGULS SU* AS ,C4,R4 ,CRANE 
( ,CRANE ,CO41 ,JESSE ,H4 ,JONES 7,R4,F4,C4 HEAD7 & ,J4,T4 ,JONES ( ! ,JONES ,LUMB] 
,CO41 ETC4 

,BEH9D BO? POLITICAL P>TIES WAS ALSO A GRIM /RUGGLE BETWE5 TWO FACTIONS 
= CONTROL ( ! GIANT ,*ASE ,NATIONAL ,BANK4 ,BACK+ ! ,REPUBLICAN ,HOOV] W]E 
HIS #aibh M5TORS1 ! ,H\SE ( ,MORGAN4 ,OPPOS+ ,J4,P4 ,MORGAN WAS ?IS O!R GR\P 
( /OCKHOLD]S HEAD$ BY ,JOHN ,ROCKEFELL]1 ,JR41 & 9CLUD+ ,V9C5T ,A/OR1 
! ,V&]BILTS & ,GUGG5HEIMS4 ,! FI<T C5T]$ AB\T ! POLICY ( ,J4,P4 
,MORGAN1 :O CONTROLL$ ! BANK1 9 =C+ ! ,*ASE ,NATIONAL TO 5GAGE 9 
PRACTICES \TSIDE ITS [N LEGITIMATE FIELD1 SU* AS L5D+ MONEY = 
SPECULATIVE PURPOSES1 ! FLOAT+ ( NEW /OCK & BOND ISSUES1 & BUY+ & 
SELL+ ON ! /OCK M>KET4 ,ROCKEFELL]1 ,JR41 & HIS ALLIES :O >E PRIM>ILY 
9DU/RIALI/S1 VIOL5TLY DISAPPROV$ ( ?IS POLICY BLAM+ IT 9 GREAT P>T 
= ! /OCK M>KET CRA% ( '#b#i4 ,!Y NOT ONLY WANT$ TO GA9 CONTROL ( ! 
BANK & RETURN IT TO ITS NORMAL COMM]CIAL BANK+ PRACTICE1 :I* IS TO 
PROVIDE FUNDS TO 9DU/RY & BUS9ESS = MEET+ CURR5T EXP5SES1 ON GOOD 
SECURITY1 BUT !Y WANT$ CONTROL ( ! F$]AL GOV]NM5T 9 ORD] TO 5ACT 
F$]AL LEGISLATION AGA9/ ! ,MORGAN POLICY :I* HAD BECOME WIDESPREAD UND] 
! 9FLU5CE & EXAMPLE ( ! ,*ASE ,NATIONAL4 ,! ,LEHMAN ,BROS4 7AMONG :I* 
IS ,GOV4 ,H4,H4 ,LEHMAN ( ,N4,Y47 ! C\NTRY'S SECOND L>GE/ FIRM ( 9VE/M5T 
BANK]S1 & O!R 9VE/M5T H\SES SU* AS ,HALSEY ,/U>T1 SUPPORT$ ?IS 
ATTEMPT TO LEGALIZE AGA9/ !IR COMPETITORS4 

,ROOSEVELT WAS NO SOON] 9AUGURAT$ ?AN HE COMM5C$ TO REMEMB] ! 
0=GOTT5 M504 ,FIR/ ON ! LI/1 ( C\RSE1 W]E ! ,ROCKEFELL]S4 ,SO ON 
,M>* #a#e1 #a#i#c#c1 ,J4,P4 ,MORGAN WAS SUMMON$ BE=E ! ,S5ATE ,BANK+ 
,9VE/IGATION4 ,HIS REVELATIONS & ?OSE ( ,ALB]T ,H4 ,WIGG91 ! NOM9AL HEAD 
( ! ,*ASE ,NATIONAL APPO9T$ BY ,MORGAN1 W]E SO DAMAG+ ?AT ,WIGG9 WAS 
=C$ TO RESIGN & ! ,ROCKEFELL]S GA9$ ! BALANCE ( VOT+ P[]1 
5ABL+ !M TO ELECT !IR [N MAN ,W9?ROP ,W4 ,ALDRI* TO ! ,*AIRMAN%IP ( 
! ,BO>D ( ! ,*ASE ,NATIONAL ,BANK4 ,:5 ,ALDRI* APPE>$ BE=E ! ,BANK+ 
,9VE/IGATION1 HE ANN\NC$ ?AT ! ,*ASE ,NATIONAL W\LD DIVORCE ITS ,*ASE 
,SECURITIES ,CORP4 ,HE >GU$ = A COMPLETE DIVORCE ( ! SECURITIES BUS9ESS & 
COMM]CIAL DEPOSIT BANK+4 ,?IS SUGGE/ION WAS EMBODI$ 9 ! ,GLASS-,/EAGALL 
,BANK+ ,ACT 7,JUNE #a#f1 #a#i#c#c7 ORD]+ ALL COMM]CIAL BANKS TO BE SEP>AT$ FROM 
!IR SECURITIES BUS9ESS )9 TWELVE MON?S4 ,RE/RICTIONS W]E ALSO PLAC$ 
AGA9/ LOANS = SPECULATIVE PURPOSES4 

,! DEVALUATION ( ! GOLD DOLL>1 FOLL[$ LAT] BY ! NATIONALIZATION ( 
SILV]1 5RI*$ IMM$IATELY ! GOLD & SILV] PRODUC]S4 ,?IS MONET>Y POLICY 
PLUS CROP CURTAILM5T AS PRACTIC$ BY ! ,A4,A4,A4 HAS 9CREAS$ F>M PRICES TO 
SOME DEGREE4 ,! ,ADM9I/RATION1 H[EV]1 OV]LOOK$ ! OBVI\S FACT ?AT 
HI<] FOOD PRICES RAISE ! CO/ ( LIV+ = ! WORK]1 :I* IS DIRECTLY 
OPPOS$ TO ! 9T]E/S ( ! 9DU/RIALI/ :O DESIRES L[ PRODUCTION CO/S4 

,! ,N4,R4,A4 :OSE FIR/ =M WAS SUGGE/$ BY ,B]N>D ,M4 ,B>U* AS ! RESULT 
( HIS W>-TIME EXP]I5CE AS ,*AIRMAN ( ! ,W> ,9DU/RIES ,BO>D1 WAS 
ADM9I/]$ BY ,HU< ,JOHNSON 7A =M] EMPLOYEE & DISCIPLE ( ,B>U*'S7 9 
SU* FA%ION AS TO ALL[ ! NATURAL T5D5CY T[>D MONOPOLY 9H]5T 9 
CAPITALISM TO DEVELOP UNRE/RICT$LY4 ,CODES W]E DRAWN BY ! L>GE/ 
9DU/RIALI/S 9 EA* 9DU/RY & NATURALLY !Y W]E DRAWN 9 !IR [N 
9T]E/S4 ,M9IMUM WAGES & H\RS S]V$ TO ELIM9ATE ! SMALL COMPETITORS :O 
W]E ONLY ABLE TO /AY 9 ! RACE BY PAY+ UNBELIEVABLY L[ WAGES & WORK+ 
LONG H\RS4 ,GOV]NM5TAL RE/RICTION1 !RE=E1 HELP$ TO LIQUIDATE !SE SMALL 
FRY & FO/]$ MONOPOLY4 ,S9CE ANTI-TRU/ RE/RICTIONS HAVE BE5 SET ASIDE 
DUR+ ! C\RSE ( ,N4,R4,A41 IT IS EVID5T ?AT ?IS WILL BE CONT9U$4 

,9 ! EF=T TO HELP ?OSE O!R 0=GOTT5 M501 ! BACKBONE ( HIS 
POLITICAL SUPPORT1 ! RAILROAD & AFFILIAT$ 9T]E/S 79CLUD+ HIMSELF7 ! 
,PRESID5T HAS BE5 =C$ TO ADOPT A CAUTI\S & SL[ POLICY4 ,BECAUSE !Y >E 
SUBJECT TO F$]AL REGULATION1 ! RAILROADS PRES5T A DELICATE PROBLEM4 ,RATES 
CANNOT BE >BITR>ILY RAIS$ )\T CONS5T ( ! ,9T]/ATE ,COMM]CE 
,COMMISSION4 ,COMPETITION AT ! H&S ( ! BUS1 WAT]WAY & ! AIRPLANE HAS 
CAUS$ A GREAT DROP 9 RAILROAD TRAFFIC4 ,= EXAMPLE3 VOLUME ( FREI<T TRAFFIC 
TODAY IS ONLY #f.0 ?AT ( #a#i#b#i2 PASS5G] TRAFFIC TODAY IS ONLY #e.0 ( #aibi & 
#c#c.0 ( #a#i#b4 ,A COORD9ATOR ( RAILROADS WAS E/ABLI%$ AFT] ,ROOSEVELT TOOK 
(FICE4 ,HIS JOB HAS BE5 TO DEVELOP A PLAN TO REE/ABLI% ! ROADS4 ,HIS PLANS 
CALL = GREAT] CONSOLIDATION AMONG ! V>I\S COMPET+ ROADS :I* W\LD 
ELIM9ATE COMPETITION BETWE5 !M - ONE ( ! REQUIREM5TS ( ! ,I4,C4,C4 ,9 
ADDITION1 IT HAS BE5 SUGGE/$ ?AT ! ,I4,C4,C4 BE REORGANIZ$ ) SEP>ATE 
DIVISIONS = RAILROADS1 MOTOR L9ES1 AIR L9ES & O!R C>RI]S 9 A 
COORD9AT$ SY/EM ( GOV]NM5T REGULATION4 ,IF !SE PLANS >E C>RI$ ?R\<1 
& !Y %\LD CONSID]+ ,ROOSEVELT'S HOLD ON ,CONGRESS TODAY1 !N ! 
RAILROADS WILL BECOME MORE ( A MONOPOLY ?AN EV]1 & RIVAL =MS ( 
TRANSPORTATION WILL SUFF]4 ,! GOV]NM5T WILL ALSO BE =C$ TO SUBSIDIZE ! 
RAILROADS 9 ORD] TO MOD]NIZE !M4 ,PRIVATE CAPITAL C\LD H>DLY F9ANCE ! 
CO/S 9VOLV$ TODAY4 

,HAV+ SECUR$ MO/ ( ITS REAL OBJECTS1 OR AB\T TO SECURE !M1 ! 0,NEW 
,DEAL0 CAN N[ AF=D TO DROP ITS MASK ( 0RADICALISM04 ,OV]TURES HAVE BE5 MADE 
TO BIG BUS9ESS ASSUR+ IT ?AT ! ADM9I/RATION IS 9H]5TLY DEVOT$ TO 
PRES]V+ ! PR(IT SY/EM4 ,BECAUSE ( ,LABOR'S GR[+ MILITANCY & ITS 
REFUSAL TO OBEY & ACCEPT DOCILELY ! TRADITIONAL TRADE-UNION LEAD]%IP ( 
! ,A4,F4 ( ,L41 9 ! FACE ( EV]-GR[+ MIS]Y1 A *ANGE 9 ! GOV]NM5TAL 
LABOR POLICY MAY BE EXPECT$ %ORTLY4 ,9 RETURN = SOME SOP1 SU* AS 
UNEMPLOYM5T 9SURANCE ( A K9D1 LABOR WILL BE MADE TO GIVE UP ITS RI<T TO 
/RIKE4 ,ONCE ! /RIKE IS \TLAW$1 IS MADE ILLEGAL1 WAGE CUTS WILL BECOME ! 
RULE4 ,( C\RSE1 ,LABOR WILL BE ASK$ TO ACCEPT !SE CUTS ONLY 0TEMPOR>ILY 
UNTIL BUS9ESS REVIVES60 

,\R ONLY CONCLUSION IS ?AT ,LABOR ONLY BY COMPLETELY *ANG+ ! SOCIAL & 
ECONOMIC SY/EM CAN REALLY & TRULY GIVE ITSELF A ,NEW ,DEAL = ALL TIME4 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #b1 #bba 3 ,:AT'S ,BEH9D ! 0,NEW ,DEAL08 -- ,ADD$4 
,JANU>Y #h1 #bbb 3 ,:AT'S ,BEH9D ! 0,NEW ,DEAL08 -- ,UPDAT$4 

 FILE G5]AT$ FROM 3  
HTTP3_/_/REVOLTLIB4COM_/