Economy

The total amount of currency issued is $5,065 million.

In the meantime, the income has increased beyond all of the anticipated estimates, and we have come to that very handsome result if nothing happens to us within the next 15 days.

It is the intention of the law that these contracts should be used in such fashion as to upbuild and strengthen the merchant marine both for the present and the future.

I propose to promulgate the tariff increases which were recently recommended by the majority of the Tariff Commission on linseed, milk, cream, and window glass.

On the contrary I am convinced that it would bring disaster to the American farmer.

The first result of the plan, if put into operation, would be a gigantic gift from the government and the public to the dealers and manufacturers and speculators in these commodities.

It is not proposed to pay the debentures of subsidies to the farmers, but to the export merchants, and it seems certain that a large part of it would not be reflected back to the farmer.

The general result has been that our agricultural industry has not kept pace in prosperity or standards of living with other lines of industry.

In determining changes in our tariff we must not fail to take into account the broad interests of the country as a whole, and such interests include our trade relations with other countries.

No governmental agency should engage in the buying and selling and price fixing of products, for such courses can lead only to bureaucracy and domination.

Seven years of experience under the tariff bill enacted in 1922 have demonstrated the wisdom of Congress in the enactment of that measure.

I sometimes wonder how our country can earn its living so arduously and successfully and at the same time do all the reading that it seems to do.

The objects to be gained by cooperation within an administration between the administration and Congress, between the administration and the leaders of our economic and social forces, are not the pawns of politics; they are not the…

If any reduction is to be applied to taxes, it is my own belief that it should be applied in that direction.

I don't think in all my experience, which has been very large with people that come before me in and out of the Government with proposals for spending money, I have ever had any proposal from anyone as to what could be done to raise money…

The requirements of existence have passed beyond the standard of necessity into the region of luxury.

On the whole the finances of the Government are most satisfactory.

Under this sound and healthful encouragement the national income has increased nearly 50 per cent, until it is estimated to stand well over $90,000,000,000.