Address of the retiring president

In turning over to my esteemed successor the office of President of the Institute, I wish to take this opportunity to express to my fellow officials, members of the Board of Direction, and to the numerous Committee members who have labored so devotedly and wisely in the interests of this fine organization, my most sincere and appreciative thanks. Notwithstanding the general great depression through which the country has passed, it is gratifying to be able to announce an increase in membership of the Institute during the past year of 840. The progress of the Institute from almost every point of view during the year now ending should be highly gratifying to its members. During the past year the radio industry in America has passed through perilous times. Most of the members of the Institute, being directly dependent for their livelihood on the prosperity of the radio industry, have likewise suffered in consequence. In sad contrast with the situation of radio manufacturers and dealers, the year has admittedly been an unusually prosperous one for the broadcast stations and their owners. I am convinced that this state of affairs is an unhealthy one, is an alarming symptom for the future. Unless these broadcast conditions are very soon materially improved, and unless the public be given the opportunity to listen to four or five hours each day of fine entertainment free from sales talk, I cannot see any way of restoring its former prosperity to the radio industry. This is putting the matter wholely on a commercial basis, without mentioning the moral obligation of the broadcasters to give the public the very best in entertainment and cultural values which it is in their power to bestow. It was consistently my thought when I first began radio broadcasting that all broadcast stations and programs would be financed and maintained, largely if not entirely, by the manufacturing companies or association of companies interested in radio sales, those interests which obviously would directly or indirectly benefit by supplying the listening public with continuous entertainment by the highest quality programs, entirely free of advertising except the barest announcement as to the organization sponsoring the programs. And so long as it seems hopeless to expect our Congress to authorize any censorship of radio programs, or to levy for the support of fine programs a tax on receiving instruments, or even on the relatively few manufacturers of radio tubes, even if such contemplated measures were wise (and I am by no means sure that they would be wise) I am forced to regard the above outlined plan of associated radio manufacturers collectively sponsoring several hours each day of high-class programs freed of all advertising, as the surest and most practical means for remedying a situation which, unless cured, will most certainly spell disaster to the radio industry, and continue to rob the radio public of the benefits to which it was once accustomed, and which are so unquestionably its right.