Press Release, Truman for Senator State Headquarters

Bditors:--For release to AFTERNOON papers of Oct. and after. 23 TRUMAN-FOR-SENATOR HRADIQUARTERS Madison Hotel william P. Harvey CHARGE Jefferson City,Missouri Publicity Director ARCHIVES ANO RECORDS SERVICE" albamy, act 23: Had President Roosevelt been able to take office the day after the Wall Street crash in 1929, depositors in the banks of the country would have been saved millions of dollars, Judge Harry S. Truman said here this afternoon in a campaign talk. Many old established banking insti- tutions would have been restored on 1th full payments to depositors, he declared. " The courageous action of Roosevelt in closing all of the banks of the country the day he was given pover to do so by Congress re- vivified hope in every understanding American heart,' Truman continued. "For bhree years after the Wall Street collapse and the money panic which ensued, former President Hoover stood by, paltering and patching while millions of dollars were being dissipated in bank assets. Hoover did not have the sublime courage of Roosevelt. He could not take the brave position the President did when he entered office." Truman sai d that of the 1407 banks which vere solvent but with fro- zen assets and which were closed until their position could be ascer- tained, only seven remain unopened. Many of these had been able to with- stand the pressure until months after the panic started, he said. Had they been taken in hand earlier,all would have had larger assets and greater chances of reopening earlier on more favorable terms to stock- holders.he declared. "Throughout the Roosevelt administration so far, there has been a mark- ed contrast in directness,courage and farsightedness with the feeble and ineffective efforts of Hoover and the 'rugged individualists' who sur- rounded him in the most trying peri od this nation has withessed, Tru- man said. "It was a time for a man with a stout heart, alert and resourceful and not committed to conventional methods. Most of Hoover' S advisers were directing their affairs from under their beds, where they had taken re- fuge. They vere the so-called leaders of America who led this country on to ruin and who are nom raising their voices in criticism but have no concrete plans to offer in lieu of those adopted by Roosevelt to restore prosperity (V