1933, October 22 – Newsreel – FDR – Fireside chat # 4 – Economic Recovery – closed captioned

It is three months, my friends, since I have talked with the people of this country about our national problems.

But during this period many things have happened, and I am glad to say that the major part of them have greatly helped the well-being of the average citizen.

In the short space of these few months, I am convinced that at least four million have been given employment.

Or saying it another way, 40 percent of those seeking work have found it.

That does not mean, my friends, that I am satisfied or that you are satisfied that our work is ended.

We have a long way to go, but we are on the way.

We come to the relief for a moment of those who are in danger of losing their farms or their homes.

I have publicly asked that the foreclosure on farms and chattels and homes be delayed until every mortgager in the country has had full opportunity to take advantage of federal credit.

And I make the further question that if there is any family in the United States about to lose its home or its farm, that family should telegraph at once, either to the Farm Credit Administration or the Home Loan Corporation in Washington requesting their help.

I do not hesitate to say that although the prices of many products of the farm have gone up and although many farm families are better off than they were last year, I am not satisfied.

It is definitely a part of our policy to increase the rise and to extend it to those products that have as yet felt no benefit.

If we cannot do this one way, we will do it another, but do it we will.

When we have restored the price level, we shall seek to establish and maintain the dollar, which will not change its purchasing and debt-paying power during the succeeding generation.

I said that in my message to the American delegation in London last July, and I say it now once more.

Our dollar is now altogether too much influenced by the internal policies of other nations.

Therefore, the United States must take firmly in its own hands the control of the gold value of our dollar.

And as a further effective means to that end, I am going to establish a government market for gold in the United States.

Therefore, under the clearly defined authority of existing law, I am authorizing the Reconstruction Finance Corporation to buy or sell gold at prices to be determined from time to time at the consultation with the secretary of the Treasury and the president.

This is a policy and not a mere expedience.

I told you the story of our steady but sure work in building our common recovery.

In my promises to you, both before and after March 4th, I made two things plain.

First that I pledged no miracles, and second that I would do my best.

I thank you for your faith.

Our troubles will not be over tomorrow, but we are on our way and we are headed in the right direction.

Transcription and captioning by Accurate Secretarial LLC