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I remember Ray Moley very well on this occasion. Ray Moley was sitting very near me. He moved over further toward me to hear a little better, as the voice was carried away by certain currents of air. We all listened very attentively. It was a very good speech and very appropriate for the occasion. It was very moving - moving particularly on that particular day, because we had learned by talk around the hotel, Henry Bruere telephoning to me to say it was true, as well as my cousin calling, that the banks were closing. There was a run on banks everywhere. Banks in many communities had closed the day before. People couldn't get their money. people in Washington for the inauguration learned that the bank in their home town had closed. The checks that they would draw cash with in hotels or other places were possibly not going to be accepted. They didn't know what was going on at home. There was the most terror-stricken look on the faces of the people gathered there. An enormous crowd had come for inauguration, but they looked frightened, worried, depressed. It was not the kind of gay Democrats that you saw later on. They were just worried to death.

I was told that day, and I think others will verify it, something interesting. I had seen parts of Roosevelt's inauguration address before we left New York, because certain parts had dealt with social matters and social