Taft explained that the great issue in this campaign is “creeping socialism.” Now that is the patented trademark of the special interest lobbies. Socialism is a scare word they have hurled at every advance the people have made in the last twenty years. Socialism is what they called public power. Socialism is what they called Social Security. Socialism is what they called farm prices supports. Socialism is what they called bank deposit insurance. Socialism is what they called the growth of free and independent labor organizations. Socialism is their name for almost anything that helps all the people.

Harry S Truman (1884-1972) US President (1945-1953)
Speech, Syracuse, New York (1952-10-10)
    (Source)

Referring to Sen. Robert A. Taft (R-Ohio).

Audio recording (the quotation is at 6:35 into the speech).