Of course that is not free competition and the thing is not working.

The general principles of H. R. 7659 seem to me sound, and the effect sought a necessary one for recovery and prevention of future economic crises.

The authorization herein set forth shall not exclude any department or other agency from carrying on such activities as are now authorized by law.

I, Franklin D. Roosevelt, President of the United States, pursuant to the authority vested in me by Title I of the National Industrial Recovery Act, do adopt and approve the report, recommendations and findings of the Administrator and do…

The Special Adviser is authorized to obtain, review, and coordinate the information, statistics, and data with reference to foreign trade.

I have to point out in a memorandum that in its essentials this bill is really nothing more than a resolution that it is still the policy of the United States to build up to the London Naval Treaty limits.

If we can get around that and purchase real estate at a lower price so that we can put up buildings with low rents, the Federal Government stands ready to increase very greatly its slum clearance allotment.

The temporary committee created by me is supplanted by the present arrangement.

It is time that the public was informed of the difference.

Our difficulty in giving Federal aid to the majority of cities that need slum clearance arises out of real estate values which are very largely fictitious.

We have to find some method of restoring competitive bidding.

Obviously, just so long as you have to pay exorbitant real-estate prices in clearing slum properties, you cannot put up any new buildings on a sufficiently sound basis.

There is hereby established the Office of Special Adviser to the President on Foreign Trade.

The Special Adviser may appoint, without regard to the Civil Service laws, officials and employees.

To the extent that it exists, it should be corrected.

If no agreement is reached, and in default of arbitration, it may be necessary for me, with due regard to the protection of the general public interest, to appoint a commission to examine thoroughly into the labor controversy.

I do hereby approve said Code of Fair Competition for the Grain Exchanges and Members Thereof.

I feel that the situation disclosed calls for immediate relief and that such situations as can be relieved through the medium of working capital should have our earnest support.