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to do public works at the bottom of the depression, but since they haven't been done before, they have to be done at the bottom of the depression. They should be thought of as temporary. There are plenty of public works in different parts of the country and we'll have to devise a fiscal arrangement whereby the federal government can assist the states.”

If you can do public works at the very beginning of a depression, you have a planned, properly thought out, properly bid upon program and you get the lowest bid. You carry it out and put it into effect before there are so many people unemployed, so it does more good, because you haven't got a million unemployed. You've only got 50,000. You can conceivably put that amount of money into their pockets and they put it into circulation. You cushion the depression. When you have to do emergency public works, you don't have time to open it for public bidding, have the plans properly drawn, and all that kind of thing where the government gets the best possible break. When it's an emergency, you have to do it, so some kind of improvised public works are done. I mentioned what they had done in Rochester, and suggested it should be done on a nationwide scale.

Then I said that at the same time that we did that, which was just holding the wolf at bay, with no pretense that it was the solution, we should proceed to get the kind