Words from the Past | 10/10/2008 8:40 am

What Would FDR Tell Us Today? 6 Roosevelt Quotes for Today's Economic Panic

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The last time our great nation faced an extreme economic crisis, it paved the way for one of the greatest statesmen in the history of the Republic to emerge. Franklin Delano Roosevelt, who was born to great personal wealth and power, would turn out to be the leader that the times required. His words, given in historic speeches to multitudes and in “fireside chats” on the radio resonated with a nation facing a moment much like the one we are dealing with today.

On this precarious morning-after, our brilliant Editor-in-Chief, Deborah Barrow, reached back into history to give us some perspective and hope.-Joni Evans

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Wine Warrior…. As per Jimmy Carter — some of us remember what happened during his administration such as His one term Presidency will be remember, by most, for the events that overwhelmed it —inflation, enercy crisis, war in Afghanistan and the hostages in Iran. In recent years he has become very controversial for his alleged anti-semitic sentiments. Despite Carter’s own Democratic Party controlling both Houses of Congress - he failed to reform the tax system and to reduce the size of government bureaucracy. He has also been criticized for not doing enough to promote his proclaimed human rights foreign policy stance in his administration, such as continuing to support Indonesian bureaucracy even while it was implicated in the Acts of Genocide in the Occupation of East Timor. His adminstration failed to deal with inflation. High levels of government spending and the rising price of imported oil caused long lines at the gasoline pumps across the nation. The Misery Index, an indicator of economic hardship rose 50% in 4 years. Interest rates, during the Carter Administration rose to unprecendented levels (above 12%). Inflation and interest rates reached the highest levels since WW11. This rapid change of interest rates led to disintermediation of bank deposits which sowed the seeds of the Savings and Loan crisis. Investments in fixed income were becoming less valuable. Holders of both bonds and pensions being paid to retired people had their life savings wiped out. So, excuse me if I’m not interested in what President James Earl Carter thinks about anything!

By Lady Gator on 10/10/2008 3:01 pm

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Jimmy Carter was not a team player. He was not one of the boys in the back room with the cigars and the whiskey at the end of the day and to some extent that was why he had so much trouble with Congress. He also micromanaged everything to his detriment–had to have his finger in every pie. But he was a man of conviction and a man of high morals. “Energy will be the immediate test of our ability to unite this Nation, and it can be the standard around which we rally,” he said. He outlined a six-point program designed to end what he called “this intolerable dependence on foreign oil.” He called for a national effort to develop alternative energy sources. He proposed legislation mandating reductions in the amount of oil used for power generation. He advocated establishment of a new federal agency “to cut through the red tape, the delays, and the endless roadblocks to completing key energy projects.” And finally. he summoned the American people to CONSERVE. This is only one example of what he tried to do while president. Today he is involved in many projects that have saved lives and helped people have homes––his Habitat for Humanity project. As for his alleged anti-semitic sentiments: he criticized Israel for how they were handling situations with Palestine and for that he was called anti-semitic? How ridiculous.

By phyllis Doyle Pepe on 10/10/2008 5:35 pm

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phyllis: Today he is involved in many projects that have saved lives and helped people have homes––his Habitat for Humanity project. Habitat for Humanity is what Carter is best at and what he should stick to. If his opinions and ideas were not effective or valueable while he was president, why should they be now?

By Marjorie C. on 10/13/2008 5:54 am

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re “If his opinions and ideas were not effective or valueable while he was president, why should they be now?” Marjorie! Carter was the first president in office to bring up the importance of immediatelydealing with the middle east and our reliance on oil (which is no longer present in the U.S. earth - even Alaska’s) - but no one responded to his efforts on the hill or in our homes. Read over his speeches, just out of interest. You will be very surprised, but understand why historians are saying he is one of our greatest presidents. Regardless of party, we all have to realize that the “parties” switched in focus, values, practice. Those of us who had parents who were Democrats are possibly Republicans today - not different from our parents, only thinking we are, and vice-versa. Our great Republican presidents started our best social programs, for example. This all changed, finally, with our slew of idiotic, fame-focused orators, actors, credit hawkers, and lobbyists, after Nam especially. We’ve gone downhill more rapidly than Rome, yet heard the disharmony of the strings, at that; did nothing. Our limited focus on religion and appearances destroyed America as we know it; it’s gone, and we’ll never have democracy again—unless Americans throw out the marginal and dangeous factions, now. With all due respect, suggesting that President Carter keep doing what he is best at denies his love for the presidency, America, Americans, and all other peoples. It’s high time that we all accepted other nations’ impressions of us, and our leaders. To deny such is foolhardy, at best; in fact, pompous arrogance is dangerous and ignorant. Let’s hope we can focus more on what our nation, our people, and the world need now, and in the next 200 years - it may not be within a democracy; however, that isn’t what is inportant, now. Greater minds than ours have cautioned a democacy “cannot exist with more than 50 people (Shaw).”

By C jay on 10/14/2008 4:26 pm

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Carter got stuck with the inflation rising and economy tanking after Nixon left office in disgrace, and Ford did nothing more than play golf and try to stay vertical. Just like FDR got saddled with what Hoover left. Let us remember that the next president - whoever it is - will be saddled with this kind of “legacy” as well.

By Lorraine Bates on 10/15/2008 11:56 am

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Lorraine….You are just quoting the same old story — “It’s not our fault, it was so and so”. Been hearing that for years. Jimmy Carter was a nice man — probably too nice, in some ways to be President. He, however, was not surrounded by advisors who were capable of ‘advising’. He was, in my opinion one of the worst, if not the worst President in my lifetime. I think his efforts on behalf of Habitat for Humanity are the best effort of anything he’s done.

By Lady Gator on 10/15/2008 1:29 pm

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Was the Depression FDR’s “fault”? Was Vietnam Nixon’s “fault”? They got their problems the old fashioned way - they inherited them. It DOES happen, and doesn’t have anything to do with party affiliation (of which I have none, FYI).

By Lorraine Bates on 10/15/2008 1:45 pm

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Lorraine….I totally agree. And, it’s what I said above. They inherited them from a previous administration. Been going on for years, And, as I have said, many times, I am also not affiliated with any party. I am an Independent. Possibly, the ‘Incoming’ who inherit all of these problems should be held responsible by the American people for the shortcomings of the ‘outgoing’.

By Lady Gator on 10/15/2008 2:05 pm

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“No business which depends for its existence on paying less than a living wage to its workers has any right to continue in this country.” This quote, connected to The National Industry Recovery Act of 1933, really rang all my bells. I can only hope, once the dust settles, that our leaders will begin to comprehend the wisdom of this statement. If we want our manufacturing sector to recover, we can’t keep allowing, let alone rewarding industry that goes overseas to pay slave wages. FDR was right! I don’t care what it does to NAFTA.

By Ms. Dee on 10/10/2008 1:29 pm

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My grandfather was one of FDR’s biggest fans. He kept a notebook with some of his favorite quotes from the ‘Fireside Chats’. I would like to share a few from that notebook……… “We have more faith in the collective opinion of all Americans than in the individual opinion of any one American”. “America has always been a land of action - a land of adventurous pioneering, a land of growth and building. America must always be such a land”. “I do not look upon these United States as a finished product. We are still in the making”. “The only limit to our realization of tomorrow will be our doubts of today”. “It is common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something.” My grandfather has a ‘star’ beside this one — FDR made this speech during the heigth of the war. “There never has been — there never can be - successful compromise between good and evil. Only total victory can reward the champions of tolerance and decency and freedom and faith.” WOW — thank you for allowing me to share these quotes from my grandfather’s notebook. FDR was quite a guy — so was my grandfather.

By Lady Gator on 10/10/2008 3:26 pm

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Thank you Lady Gator, your grandfather was quite a guy indeed. My grandfather ran the campaign for FDR in one state; he was sure he was the one to turn things around. It was not just FDR who turned things around; it was people like our grandfathers who knew it was possible.

By Elizabeth Bennett on 10/11/2008 12:48 pm

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Love all your GF’s quotes, L G, esp. - “It is common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something.” Something the present administration has NOT done! So, thanks for sharing all those, not the typical ones you see often … & all are thought provoking! My family’s indebted to FDR, my uncle was part of the WPA Artist’s in NYC and my Dad worked for Laguardia on his public works building in NYC, right after College. My Mom actually worked for an “Odd Lot” firm, her first job, on Broad St. from June ‘29 to Mar. ‘31! (the latter was after the crash, when she & others began cleaning up the mess!) She talked about what that was like, which I taped & transcribed. Scary! My family always talked about how FDR gave hope to all, giving folks work to improve their lives, and those all around the country, which inevitably helped Americans feel connected to each other & the cause. What’s happening now, does not surprise me. Back in the 1980s, my Mom said we were headed for a crash (same policies Coolidge put in). But THIS time, it’s more complex than then, fewer regulations, more “inventive” financial tactics, like Wall Street financing the Mortgage debacle! IF FDR was here now, he might just make the boneheads who created the crisis bail themselves out, with their excessive CEO bonuses & “retirement” (after only a few years) pay & options! FDR spoke to the people, not down to them. He knew that in a crisis, you don’t “Go shopping” (i.e. Bush after Sept 11), but you pull together, pool all your resources, dig in, knuckle down, find solutions, and act with all you can muster. He realized putting people to work to help others have a better way of life was how to get all back on the track, and create a “greater” community.

By Kathleen E Lo Pinto VIgnolini on 10/11/2008 8:29 pm

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March 4, 1933: http://historymatters.gmu.edu/d/5057/ I believe that of all the mistakes, lies and negligent irresponsible acts this Bush/Cheney has done in this past 8 years is the ruling by preying on our fears. The propaganda of fear. They used 9/11, not turning it into a positive force to bring our nation together, and then our world. They used it to frighten us into bending into their will for starting a war that didn’t need to be started. Fear is a great motivator, used by unscrupulous despots to rule over instead of ruling with. Our Constitution has been put in terrible jeopardy because of this. Roosevelt and Churchill knew that the only way they could beat the cruel forces in our world was by conquering fear and uniting the allies into a working team. We need to remember this as we go into an economic debacle (brought on by “supply side economics”and greed), enemies that would love to destroy us, both from the inside and outside, and the realities of what is happening to our fragile earth. This is the primary reason I chose Obama. He is reminding us that we can only solve our problems if we pull together again, and work as a team. We cannot remain such a nation of divided peoples.

By Diana T on 10/13/2008 10:44 am

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FDR was, like all politicians, full of platitudes, which the populace lived on at the time; however, he was smart enouch to get on a train and put himself in touch with America, our people, our land. I’ve said this before, heroes are not such because they protect their rear-ends. They are great people because they make objective decisions to perform an act/action regardless of personal risk, loss of wealth, status, or life. FDR was a thinker, fully capable of processing information, and extrapolating data. Can anyone imagine FDR waltzing around a townhall with a mic in his hands, slinging childish remarks to an opponent, much less ingoring questions put to him by his voters? Yes, FDR was on wheels, and it didn’t affect his performance, or abilities, but more than that, he was an honest person; we trusted that.

By C jay on 10/14/2008 4:05 pm