Too much bureaucracy
Cry Wolf Quotes
The Securities Act of 1933 created a serious obstacle to recovery, through its drastic regulation of the issuance of new securities by private enterprise. The Banking Act of 1933 created an additional impediment through the provisions of Section 16 prohibiting the national banks from participating in underwriting securities after June 16, 1934.
We cannot go on adding regulations on the backs of industries in this state.
I am sure that there is no one here who would wish to increase the margin of safety in our dust standards so far beyond the point at which employee health is adequately protected that, as a consequence, we deprive of their means of livelihood the very persons whom we are trying to benefit. This would be an action foolish as it is absurd.
I do not believe in legislation so radical that it means an attack on the valuation of real estate or driving out of our state manufacturing concerns or other large business enterprises.
