Economy

It has been pointed out time and time again that this money has to be paid by our taxpayers unless it is paid by the taxpayers of the country or the countries which borrowed the money.

Of course anyone that gives the matter a moment's thought would recognize the great difficulty of the Government in undertaking to say what securities are good or sound or some equivalent word and what are not.

I find it is helpful to me to go back once in a while to see that I am not forgetting how people earn their living.

As far as I can see myself and as far as I am advised by the members of my Cabinet, Mr. Hoover, who keeps very closely in touch with the business situation, and Mr. Mellon, who is in touch with the banking situation and the business…

The business conditions in the country are more than meeting expectations.

I think that is attributable partly to the reduction of taxation.

There is another item that I left out, which of course is of tremendous importance, and that is the settlement of our foreign debts.

The principal thing that will affect the country is the reduction of taxation.

The tax measure I would say was the most important piece of legislation.

We are not striving to save the dollar at the expense of the public service.

The condition of the Treasury, which now is being supplied so largely from income taxes, is very greatly dependent upon the general condition of business throughout the country.

Employment apparently is plentiful.

The reports in relation to business conditions in the country seem to be substantially as they have been for the past months.

A great many products go into building, and when that industry is flourishing it creates a demand for all kinds of supplies and has a beneficial influence on all kinds of production.

What I am especially solicitous about is the financial and economic condition of the Government.

I am undertaking to provide for it to be carried on as a farm for the next year.

It means that we shall have to prune somewhat.

If Congress goes ahead and appropriates more money than there is in the Treasury, and makes it necessary to put in a bill increasing taxes, it won't encourage the business of the country.