We wish to make clear that the purpose of this editorial is not reproach, not political partisanship, but educational.

We have been writing about these historical and economic facts often in the past ten years....

A year ago, the majority of voting citizens elected Hoover, as President Coolidge's successor. President Hoover took over his responsible position nearly nine months ago.....

His slogan against the Democratic candidate was that the Republican regime means prosperity and plenty of work.

2

At this time we would like to ask those who voted for Hoover whether these promises....were kept. Is there prosperity today....?

For weeks, public opinion has been worrying about the great economic crisis. On the Stock Exchange, unparalleled losses are ruining American industrial and commercial values.

This situation was brought about by long months of economic stagnation and industrial overproduction, which caused insane speculation on the New York and Chicago stock markets.....

The insane speculation is at an end, but the complete crash, which began on October 20, is not yet over.

It could be imagined what reproaches the newspapers, organs of Wall Street, would bring against Alfred Smith if he were President now, when there is such 3panic on the Stock Exchange, such unemployment and business apathy in the whole country.....

Any enlightened individual knows that political parties, Republican or Democrat, have little or nothing to do with prosperity or depression.

There was no perceptible difference on economic matters between Hoover's and Smith's platforms, but the Republican partisans advertised that under Hoover we will bathe in milk and butter and under Smith we will have depression. Today we have the answer.

According to eminent economists, prosperity in the United States is brought about by the natural resources which have not been used up because the country is not overpopulated; the intelligence and energy of the workers; a great domestic market; ample capital and credit; and education of the public to understand advertising and to buy advertised products, which will increase wages and profits.....

4

Just because there is depression now does not mean that it will continue under Hoover's administration. However, it does mean that the wonderful times promised to certain individuals who worked for Hoover's election did not materialize.

Voters should mark this in their memories and, if in 1932 the same promises are made to them, they should remind the politicians of the humbug of 1929 and 1930.....

It is high time for us Hungarians, too, to learn that during election campaigns, when loud-mouthed Republican partisans make promises, [we should] not take them at their word.....

Let us show that we are not so ignorant as to accept the Republican parrots' chattering as the truth in the 1932 Presidential year.