Mar 4, 33 President Roosevelts inauguration speech encouraged many. It is the habit of the Roosevelts, as you learned from the late Theodore, to say things emphatically and it is reasonable to expect increasing emphasis as Franklin D. Roosevelt goes deeper into his job. You may hear him say: More than twenty thousand million dollars are hidden away in bonds issued by the United States government. These thousands of millions are idle. The owners, avoiding active use of their wealth, draw from taxpayers nearly one thousand million dollars a year in interest. These bonds represent our real hoarding. I am going to end half of it. call in ten thousand millions of bonds, that now bear interest and exchange them for perfectly good money, with the governments good promise to pay, save four hundred millions a year in interest for the people, and let the owners of the nice new money put it into circulation, and break the depression. I And you might hear the new president say the big men of this country have been allowed to put their money into tens of billions of dollars worth of securities and draw billions a year in income on which they pay not one cent to the government of the United States. I am going to change that. The country that taxes a grocers little earnings, a professors salary, or the small sum that a widow has inherited from her husband for the protection of her children, should also tax a man who has twenty or more millions of securities now tax free, paying not a cent to the government that protects him in the possession of that wealth and the enjoyment of that income. One who should know declares that returns on all securities are taxed in England and France. They do more than merely talk about democracy.