We the representatives of the democratic party in national convention assembled, pay our profound homage to the memory of Woodrow Wilson. Our hearts are filled with gratitude that American democracy should have produced this man, whose spirit and influence will live on through the ages, and that it was our privilege to have co-operated with him in the advancement of ideals of government which will serve as an example and inspiration for this and future generations. We affirm our abiding faith in those ideals and pledge ourselves to take up the standard which he bore and to strive for the full triumph of the principles of democracy to which he dedicated his life.

DEMOCRATIC PRINCIPLES

The democratic party believes in equal rights to all and special privilege to none. The republican party holds that special privileges are essential to national prosperity. It believes that national prosperity must originate with the special interests and seep down through the channels of trade to the less favored industries to the wage earners and small salaried employees. It has accordingly enthroned privilege and nurtured selfishness.

The republican party is concerned chiefly with material things; the demo party is concerned chiefly with human rights. The masses, burdened by discriminating laws and unjust administration, are demanding relief. The favored special interests represented by the republican party contented with their unjust privileges, are demanding that no change be made. The democratic party stands for remedial legislation and progress. The republican party stands still.

COMPARISON OF PARTIES

We urge the American people to compare the record of eight unsullied years of demo administration with that of the Republican administration. In the former there was no corruption. The party pledges were faithfully fulfilled and a demo congress enacted an extraordinary number of constructive and remedial laws. The economic life of the nation was quickened.

Tariff taxes were reduced. A federal trade commission was created. Child labor legislation was enacted. A good roads bill was passed. Eight hour laws were adopted. A secretary of labor was given a seat in the cabinet of the president. The Clayton amendment to the Sherman anti-trust act was passed, freeing American labor and taking it from the category of commodities. By the smith-lever bill improvement of agricultural conditions was effected. A corrupt practice act was adopted. A well-considered warehouse act was passed. Federal employment bureaus were created, farm loan banks were organized and the federal reserve system was established. Privilege was uprooted. A corrupt lobby was driven from the national capital. A higher sense of individual and national duty was aroused. America enjoyed an unprecedented period of social and material progress.

During the time which intervened between the inauguration of a demo administration on March 4, 1913 and our entrance into the world-war we placed upon the statute books of our country more effective constructive and remedial legislation than the republican party had placed there in a generation.

During the great struggle which followed we had a leadership that carried America to greater heights of honor and power and glory than she had ever known before in her entire history.

Transition from this period of exalted demo leadership to the sordid record of the last three and a half years makes the nation ashamed. It marks the contrast between a high conception of public service and an avid purpose to distribute spoils.

G.O.P. CORRUPTION

Never before in our history has the government been so tainted by corruption and never has an administration so utterly failed. The nation has been appalled by the revelations of political depravity which have characterized the conduct of public affairs. We arraign the republican party for attempting to limit inquiry into official delinquencies and to impede if not to frustrate the investigations to which in the beginning the republican party leaders assented but which later they regarded with dismay.

These investigations sent the former secretary of the interior to three rivers in disgrace and dishonor. These investigations revealed the incapacity and indifference to public obligation of the secretary of the navy, compelling him by force of public opinion to quit the cabinet. These investigations confirmed the general impression as to the unfitness of the attorney general by exposing an official situation and personal contacts which shocked the conscience of the nation and compelled his dismissal from the cabinet.

These investigations disclosed the appalling conditions of the veterans bureau with its fraud upon the government and its cruel neglect of the sick and disabled soldiers of the world-war. These investigations revealed the criminal and fraudulent nature of the oil leases which caused the congress, despite the indifference of the executive, to direct recovery of the public domain and the prosecution of the criminal.

Such are the exigencies of partisan politics that Republican leaders are teaching the strange doctrine that public censure should be directed against those who expose crime rather than against criminals who have committed the offenses. If only three cabinet officers out of ten are disgraced, the country is asked to marvel at how many are free from taint. Long boastful that it was the only party "fit to govern" the republican party has proven its inability to govern even itself. It is at war with itself. As an agency of government it has ceased to function.

This nation cannot afford to entrust its welfare to a political organization that cannot master itself, or to an executive whose policies have been rejected by his own party. To retain in power an administration of this character would inevitably result in four years more of continued disorder, internal dissension and governmental inefficiency. A vote for Coolidge is a vote for chaos.

ISSUES

The dominant issues of the campaign are created by existing conditions. Dishonesty discrimination extravagances and inefficiency exist in government. The burdens of taxation have become unbearable. Distress and bankruptcy in agriculture, the basic industry of our country, is affecting the happiness and prosperity of the whole people. The cost of living is causing hardship and unrest.

The slowing down of industry is adding to the general distress. The tariff, the destruction of our foreign markets and the high cost of transportation are taking the profit out of agriculture, mining and other raw material industries. Large standing armies and the cost of preparing for war still cast their burdens upon humanity. These conditions the existing Republican administration has proven itself unwilling or unable to redress.

The democratic party pledges itself to the following program:

Honest government.

We pledge the demo party to drive from public places all which make barter of our national power, its resources or the administration of its laws, to punish those guilty of these offenses.

To put none but the honest in public office, to practice economy in the expenditure of public money, to reverence and respect the rights of all under the constitution.

To condemn and destroy government by the spy and blackmailer which was by this Republican administration both encouraged and practiced.

TARIFF AND TAXATION

The Fordney-McCumber tariff act is the most unjust, unscientific and dishonest tariff tax measure ever enacted in our history. It is class legislation which defrauds the people for the benefit of a few, it heavily increases the cost of living penalizes agriculture corrupts the government fosters paternalism and in the long run does not benefit the very interests for which it was intended.

We denounce the Republican tariff laws which are written in great part in aid of monopolies and thus prevent that reasonable exchange of commodities which would enable foreign countries to buy our surplus agricultural and manufactured products with resultant profit to the toilers and producers of America.

Trade interchange, on the basis of reciprocal advantages to the countries participating is a time-honored doctrine of demo faith. We declare our party's position to be in favor of a tax on commodities entering the customs house that will promote effective competition, protect against monopoly and at the same time produce a fair revenue to support the government.

The greatest contributing factor in the increase and unbalancing of prices is unscientific taxation. After having increased taxation and the cost of living by $2,000,000,000 under the Fordney-McCumber tariff all that the republican party could suggest in the way of relief was a cut of $300,000,000 in direct taxes and that was to be given principally to those with the largest incomes.

Although there was no evidence of a lack of capital for investment to meet the present requirements of all legitimate industrial enterprises and although the farmers and general consumers were bearing the brunt of tariff favors already granted to special interests, the administration was unable to devise any plan except one to grant further aid to the few. Fortunately this plan of the administration failed and under demo leadership aided by progressive Republican a more equitable one was adopted which reduces direct taxes by about $450,000,000.

The issue between the president and the democratic party is not one of tax reduction or of the conservation of capital. It is an issue of relative burden of taxation and of the distribution of capital as affected by the taxation of income. The president still stands on the so-called Mellon plan, which his party has just refused to indorse or mention in its platform.

The income tax was intended as a tax upon wealth. It was not intended to take from the poor any part of the necessities of life. We hold that the fairest tax with which to raise revenue for the federal government is the income tax. We favor a graduated tax upon incomes, so adjusted as to lay the burdens of government upon the taxpayers in proportion to the benefits they enjoy and their ability to pay.

We oppose the so-called nuisance taxes, sales taxes and all other forms of taxation that unfairly shift to the consumer the burdens of taxation. We refer to the demo revenue measure passed by the last congress as distinguished from the Mellon tax plan as an illustration of the policy of the democratic party. We first made a flat reduction of 25 percent upon the tax of all incomes payable this year and then we so changed the proposed Mellon plan as to eliminate taxes upon the poor, reducing them upon moderate incomes and, in a lesser degree, upon the incomes of multimillionaires. We hold that all taxes are unnecessarily high and pledge ourselves to further reductions.

We denounce the Mellon plan as a device to relieve multi-millionaires at the expense of other taxpayers, and we accept the issue of taxation tendered by president Coolidge.

AGRICULTURE

During the four years of Republican government the economic condition of the American farmer has changed from comfort to bankruptcy, with all its attendant miseries. The chief causes for this are:

(a) the republican party policy of isolation in international affairs has prevented Europe from getting back to its normal balance, and, by leaving unsolved the economic problems abroad, has driven the European city population from industrial activities to the soil in large numbers in order to earn the mere necessaries of life. This has deprived the American farmer of his normal export trade.

(b) the Republican policy of a prohibitive tariff exemplified in the Fordney-McCumber law, which has forced the American farmer, with his export market debilitated, to buy manufactured goods at sustained high domestic levels, thereby making him the victim of the profiteer.

(c) the Republican policy of high transportation rates both rail and water which has made it impossible for the farmer to ship his produce to market at even a living profit.

To offset these policies and their disastrous results, and to restore the farmer again to economic equality with other industrialists we pledge ourselves:

(a) to adopt an international policy of such co-operation by direct official, instead of indirect and evasive unofficial means, as will re-establish the farmer's export market by restoring the industrial balance in Europe and the normal flow of international trade with the settlement of Europe's economic problems.

(b) to adjust the tariff so that the farmer and all other classes can buy again in a competitive manufacturer's market.

(c) to readjust and lower rail and water rates which will make our markets, both for the buyer and seller, national and international instead of regional and local.

(d) to bring about the early completion of international waterway systems for transportation and to develop our water powers for cheaper fertilizer and use on our farms.

(e) to stimulate by every proper governmental activity the progress of the co-operative marketing movement and the establishment of an export marketing corporation or commission in order that the exportable surplus may not establish the price of the whole crop.

(f) to secure for the farmer credits suitable for his needs.

(g) by the establishment of these policies and others naturally supplementary thereto, to reduce the margin between what the producer receives for his products and the consumer has to pay for his supplies, to the end that we secure an equality for agriculture.

RAILROADS

The sponsors for the Esch-Cummins transportation act of 1920, at the time of its presentation to congress, stated that it had for its purposes the reduction of the cost of transportation, the improvement of service, the bettering of labor conditions, the promotion of peaceful co-operation between employer and employee and at the same time the assurance of a fair and just return to the railroads upon their investment.

We are in accord with these announced purposes, but contend that the act has failed to accomplish them. It has failed to reduce the cost of transportation. The promised improvement in service has not been realized. The labor provisions of the act have proven unsatisfactory in settling differences between employer and employees. The so-called recapture clause has worked out to the advantage of the strong and has been of no benefit to the weak. The pronouncement in the act for the development of both rail and water transportation has proved futile. Water transportation upon our inland waterways has not been encouraged, the limitation of our coastwise trade is threatened by the administration of the act. It has unnecessarily interfered with the power of the states to regulate purely intrastate transportation. It must therefore be so rewritten that the high purpose which the public welfare demands may be accomplished.

Railroad freight rates should be so readjusted as to give the bulky basic, low-priced raw commodities, such as agricultural products, coal and ores the lowest rates, placing the higher rates upon more valuable and less bulky manufactured products.

MUSCLE SHOALS

We reaffirm and pledge the fulfillment of the policy, with reference to muscle shoals, as declared and passed by the demo majority of the sixty-fourth congress in the national defense act of 1916, "for the production of nitrates or other products needed for munitions of war and useful in the manufacture of fertilizers."

We hold that the production of cheaper and high grade fertilizers is essential to agricultural prosperity. We demand prompt action by congress for the operation of the muscle shoals plants to maximum capacity in the production, distribution and sale of commercial fertilizers to the farmers of the country and we oppose any legislation that limits the production of fertilizers at muscle shoals by limiting the amount of power to be used in their manufacture.

CREDIT AND CURRENCY

We denounce the recent cruel and unjust contraction of legitimate and necessary credit and currency, which was directly due to the so-called deflation policy of the republican party as declared in its national platform of June, 1920, and in the speech of acceptance of its candidate for the presidency. Within eighteen months after the election of 1920 this policy resulted in withdrawing bank loans by over $5,000,000,000 and in contracting our currency by over $1,500,000,000.

The contraction bankrupted hundreds of thousands of farmers and stock growers in America and resulted in widespread industrial depression and unemployment. We demand that the federal reserve system be so administered as to give stability to industry, commerce and finance as was intended by the democratic party which gave the federal reserve system to the nation.

RECLAMATION

The democratic party was foremost in urging reclamation for the immediate arid and semiarid lands of the west. The lands are located in the public land states, and, therefore, it is due to the government to utilize their resources by reclamation. Homestead entrymen under reclamation projects have suffered from the extravagant inefficiencies and mistakes of the federal government.

The reclamation act of 1924, recommended by the fact finding commission and added as an amendment to the second deficiency appropriation bill at the last session of congress, was eliminated from that bill by the Republican conferees in the report they presented to congress one hour before adjournment. The democratic party pledges itself actively efficiently and economically to carry on the reclamation projects, and to make equitable adjustment for the mistakes the government has made.

CONSERVATION

We pledge recovery of the navy's oil reserves, and all other parts of the public domain which have been fraudulently or illegally leased or otherwise wrongfully transferred to the control of private interests, vigorous prosecution of all public officials, private citizens and corporations that participated in these transactions, revision of the water power act, the general leasing act and all other legislation relating to public domain, that may be essential to its conservation and honest and efficient use on behalf of the people of the country.

We believe that the nation should retain title to its water power and we favor the expeditious creation and development of our water power. We favor strict public control and conservation of all the nation's natural resources such as coal iron oil and timber and their use in such manner as may be to the best interest of our citizens.

The conservation of migratory birds, the establishment of game preserves, and the protection and conservation of wild life is of importance to agriculturists as well as sportsmen. Our disappearing national natural resources of timber calls for a national policy of reforestation.

IMPROVED HIGHWAYS

Improved roads are of vital importance, not only to commerce and industry, but also to agriculture and natural life. We call attention to the record of the democratic party in this matter and favor continuance of federal aid under existing federal and state agencies.

MINING

Mining is one of the basic industries of this country. We produce more coal iron copper and silver than any other country the value of our mineral production is second only to agriculture. Mining has suffered like agriculture and from the same causes. It is the duty of our government to foster this industry and to remove the restrictions that destroy its prosperity.

MERCHANT MARINE

The democratic party condemns the vacillating policy of the Republican administration in the failure to develop an American flag shipping policy. There has been a marked decrease in the volume of American commerce carried in American vessels as compared to the record under a demo administration.

We oppose as illogical and unsound all efforts to overcome by subsidy the handicap to American shipping and commerce imposed by Republican policies.

We condemn the practice of certain American railroads in favoring foreign ships, and pledge ourselves to correct such discriminations. We declare for an American owned merchant marine, American built and manned by American crews, which is essential for naval security in war and is a protection to the American farmer and manufacturer against excessive ocean freight charges on products of farm and factory.

We declare that the government should own and operate such merchant ships as will insure the accomplishment of these purposes and to continue such operation so long as it may be necessary without obstructing the development and growth of a privately owned American flag shipping.

NECESSITIES OF LIFE

We pledge the democratic party to regulate by governmental agencies the anthracite coal industry and all other corporations controlling the necessaries of life where public welfare has been subordinated to private interests.

EDUCATION

We believe with Thomas Jefferson and founders of the republic that ignorance is the enemy of freedom and that each state, being responsible for the intellectual and moral qualifications of its citizens and for the expenditure of the moneys collected by taxation for the support of its schools, shall use its sovereign right in all matters pertaining to education. The federal government should offer to the states such counsel, advice and aid as may be made available through the federal agencies for the general improvement of our schools in view of our national needs.

CIVIL SERVICE

We denounce the action of the Republican administration in its violations of the principles of civil service by its partisan removals and manipulation of the eligible lists in the post office department and other governmental departments by its packing the civil service commission so that commission became the servile instrument of the administration in its wish to deny to the former service men their preferential rights under the law and the evasion of the requirements of the law with reference to appointments in the department.

We pledge the demo party faithfully to comply with the spirit as well as the regulation of civil service, to extend its provisions to internal revenue officers and to other employees of the government not in executive positions, and to secure to former service men preference in such appointments.

POSTAL EMPLOYEES

We declare in favor of adequate salaries to provide decent living conditions for postal employees.

POPULAR ELECTIONS

We pledge the democratic party to a policy which will prevent members of either house who fail of re-election from participating in the subsequent sessions of congress. This can be accomplished by fixing the days for convening the congress immediately after the biennial national election, and to this end we favor granting the right to the people of the several states to vote on proposed constitutional amendments on this subject.

PROBATION

We favor the extension of the probation principle to the courts of the United States.

ACTIVITIES OF WOMEN

We welcome the women of the nation to their rightful place by the side of men in the control of the government whose burdens they have always shared.

The democratic party congratulates them upon the essential part which they have taken in the progress of our country, and the zeal with which they are using their political power to aid the enactment of beneficial laws and the exaction of fidelity in the public service.

VETERANS OF WARS

We favor generous appropriations, honest management and sympathetic care and assistance in the hospitalization, rehabilitation and compensation of the veterans of all wars and their dependents. The humanizing of the veteran's bureau is imperatively required.

CONTRIBUTIONS

The nation now knows that the predatory interests have, by supplying Republican campaign funds. Systematically purchased legislative favors and administrative immunity. The practice must stop, our nation must return to honesty and decency in politics.

Elections are public affairs conducted for the sole purpose of ascertaining the will of the sovereign voters. Therefore, we demand that national elections shall hereafter be kept free from the poison of excessive private contributions. To this end, we favor reasonable means of publicity, at public expense, so that candidates, properly before the people for federal offices, may present their claims at a minimum of cost. Such publicity should precede the primary and the election.

We favor the prohibition of individual contributions direct and indirect to the campaign funds of congressmen senators or presidential candidates, beyond a reasonable sum to be fixed in the law, for both individual contributions and total expenditures, with requirements for full publicity. We advocate a complete revision of the corrupt practice act to prevent newberryism and the election evils disclosed by recent investigations.

NARCOTICS

Recognizing in narcotic addiction, especially the spreading of heroin addiction among the youth, a grave peril to America and to the human race, we pledge ourselves vigorously to take against it all legitimate and proper measures for education, for control and for suppression at home and abroad.

PROHIBITION LAW

The Republican administration has failed to enforce the prohibition law; is guilty of trafficking in liquor permits, and has become the protector of violators of this law.

The democratic party pledges itself to respect and enforce the constitution and all laws.

RIGHTS OF STATES

We demand that the states of the union shall be preserved in all their vigor and power. They constitute a bulwark against the centralizing and destructive tendencies of the republican party.

We condemn the efforts of the republican party to nationalize the functions and duties of the states.

We oppose the extension of bureaucracy, the creation of unnecessary bureaus and federal agencies and the multiplication of offices and office-holders.

We demand a revival of the spirit of local self-government essential to the preservation of the free institutions of our republic.

ASIATIC IMMIGRATION

We pledge ourselves to maintain our established position in favor of the exclusion of Asiatic immigration.

PHILIPPINES

The Filipino peoples have succeeded in maintaining a stable government and have thus fulfilled the only condition laid down by congress as a prerequisite to the granting of independence. We declare that it is now our liberty and our duty to keep our promise to these people by granting them immediately the independence which they so honorably covet.

ALASKA

The maladministration of affairs in Alaska is a matter of concern to all our people. Under the Republican administration development has ceased and the fishing industry has been seriously impaired. We pledge ourselves to correct the evils which have grown up in the administration of that rich domain.

An adequate form of local self-government for Alaska must be provided and to that end we favor the establishment of a full territorial form of government for that territory similar to that enjoyed by all the territories except Alaska during the last century of American history.

HAWAII

We believe in a policy for continuing the improvements of the national parks, the harbors and breakwaters, and the federal roads of the territory of Hawaii.

VIRGIN-ISLANDS

We recommend legislation for the welfare of the inhabitants of the virgin-islands.

LAUSANNE TREATY

We condemn the lausanne treaty. It barters legitimate American rights and betrays Armenia, for the Chester oil concessions.

We favor the protection of American rights in turkey and the fulfillment of president Wilson's arbitral award respecting Armenia.

DISARMAMENT

We demand a strict and sweeping reduction of armaments by land and sea, so that there shall be no competitive military program or naval building. Until international agreements to this end have been made we advocate an army and navy adequate for our national safety.

Our government should secure a joint agreement with all nations for world disarmament and also for a referendum of war, except in case of actual or threatened attack.

Those who must furnish the blood and bear the burdens imposed by war should, whenever possible, be consulted before this supreme sacrifice is required of them.

GREECE

We welcome to the sisterhood of republics the ancient land of Greece which gave to our party its priceless name. We extend to her government and people our cordial good wishes.

WAR

War is a relic of barbarism and it is justifiable only as a measure of defense.

In the event of war in which the man power of the nation is drafted, all other resources should likewise be drafted. This will tend to discourage war by depriving it of its profits.

PERSONAL FREEDOM

The democratic party reaffirms its adherence and devotion to those cardinal principles contained in the constitution and the precepts upon which our government is founded, that congress shall make no laws respecting the establishment of religion, or prohibiting the free exercises thereof or abridging the freedom of speech or of the press or of the right of the people peaceably to assemble and to petition the government for a redress of grievances, that the church and the state shall be and remain separate, and that no religious test shall ever be required as a qualification to any office of public trust under the United States. These principles we pledge ourselves ever to defend and maintain. We insist at all times upon obedience to the orderly processes of the law and deplore and condemn any effort to arouse religious or racial dissension.

LEAGUE OF NATIONS

The democratic party pledges all its energies to the outlawing of the whole war system. We refuse to believe that the wholesale slaughter of human beings on the battlefield is any more necessary to man's highest development than is killing by individuals.

The only hope for world peace and for economic recovery lies in the organized efforts of sovereign nations co-operating to remove the causes of war and to substitute law and order for violence.

Under demo leadership a practical plan was devised under which fifty-four nations are now operating, and which has for its fundamental purpose the free co-operation of all nations in the work of peace.

The government of the United States for the last four years has had no foreign policy and consequently it has delayed the restoration of the political and economic agencies of the world. It has impaired our self-respect at home and injured our prestige abroad. It has curtailed our foreign markets and ruined our agricultural prices.

It is of supreme importance to civilization and to mankind that America be placed and kept on the right side of the greatest moral question of all time and therefore the democratic party renews its declarations of confidence in the idea of world peace the league of nations and the world court of justice as together constituting the supreme effort of the statesmanship and religious conviction of our time to organize the world for peace.

Further, the democratic party declared that it will be the purpose of the next administration to do all in its power to secure for our country that moral leadership in the family of nations which, in the providence of god, has been so clearly marked out for it. There is no substitute for the league of nations as an agency working for peace therefore we believe that, in the interest of permanent peace, and in the lifting of the great burdens of war from the backs of the people, and in order to establish a permanent foreign policy on these supreme questions, not subject to change with change of party administration it is desirable wise and necessary to lift this question out of party politics and to that end to take the sense of the American people at a referendum election, advisory to the government, to be held officially, under act of congress, free from all other questions and candidacies, after ample time for full consideration and discussion throughout the country, upon the question, in substance as follows:

"shall the United States become a member of the league of nations upon such reservations or amendments to the covenant of the league as the president and the senate of the United States may agree upon."

Immediately upon an affirmative vote we will carry out such mandate.

WATERWAYS

We favor and will promote deep waterways from the great lakes to the gulf and to the Atlantic ocean.

FLOOD CONTROL

We favor a policy for the fostering and building of inland waterways and the removal of discrimination against water transportation. Flood-control and the lowering of flood levels is essential to the safety of life and property, the productivity of our lands, the navigability of our streams and the reclaiming of our wet and overflowed lands and the creation of hydro-electric power. We favor the expeditious construction of flood relief works on the Mississippi and Colorado rivers and also such reclamation and irrigation projects upon the Colorado river as may be found to be feasible and practical.

We favor liberal appropriations for prompt co-ordinated surveys by the United States to determine the possibilities of general navigation improvements and water power development on navigable streams and their tributaries, to secure reliable information as to the most economical navigation improvement, in combination with the most efficient and complete development of water power.

We favor suspension of the granting of federal water power licenses by the federal water power committee until congress has received reports from the water power commission with regard to applications for such licenses.

PRIVATE MONOPOLIES

The federal trade commission has submitted to the Republican administration numerous reports showing the existence of monopolies and combinations in restraint of trade, and has recommended proceedings against these violators of the law. The few prosecutions which have resulted from this abundant evidence furnished by this agency created by the demo party, while proving the indifference of the administration to the violations of law by trusts and monopolies and its friendship for them, nevertheless demonstrate the value of the federal trade commission.

We declare that a private monopoly is indefensible and intolerable, and pledge the democratic party to vigorous enforcement of existing laws against monopoly and illegal combinations, and to the enactment of such further measures as may be necessary.

FRAUDULENT STOCK SALE

We favor the immediate passage of such legislation as may be necessary to enable the states efficiently to enforce their laws relating to the gradual financial strangling of innocent investors, workers and consumers, caused by the indiscriminate promotion, refinancing and reorganizing of corporations on an inflated and over-capitalized basis, resulting already in the undermining and collapse of many railroads, public service and industrial corporations, manifesting itself in unemployment, irreparable loss and waste and which constitute a serious menace to the stability of our economic system.

AVIATION

We favor a sustained development of aviation by both the government and commercially.

LABOR, CHILD WELFARE

Labor is not a commodity. It is human. We favor collective bargaining and laws regulating hours of labor and conditions under which labor is performed. We favor the enactment of legislation providing that the product of convict labor shipped from one state to another shall be subject to the laws of the latter state exactly as though they had been produced therein. In order to mitigate unemployment attending business depression, we urge the enactment of legislation authorizing the construction and repair of public works be initiated in periods of acute unemployment.

We pledge the party to co-operate with the state governments for the welfare, education and protection of child life and all necessary safeguards against exhaustive debilitating employment conditions for women.

Without the votes of demo members of congress the child labor amendment would not have been submitted for ratification.

LATIN-AMERICA

From the day of their birth, friendly relations have existed between the Latin-American republics and the United States. That friendship grows stronger as our relations become more intimate. The democratic party sends to these republics its cordial greeting, god has made us neighbors, justice shall keep us friends.