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There must an end of speculation with other people’s money

Franklin Delano Roosevelt’s first inaugural address… Given in Washington, D.C., March 4th, 1933

~~~ “… There are many ways in which it can be helped, but it can never be helped merely by talking about it.  We must act, and act quickly.

Finally, in our progress toward a resumption of work we require two safeguards against a return of the evils of the old order:

  • there must be a strict supervision of all banking and credits and investments;
  • there must be an end to speculation with other people’s money,
  • and there must be provision for an adequate but sound currency…” “`