Herbert Hoover: “We have succeeded in maintaining confidence and courage.”

We must make headway against the mutual fear and friction arising out of war armament which kill human confidence throughout the world.

I am glad to see the adoption by the Senate and House of the principle of generous relief to unemployment.

These expenditures cannot be recovered; they must be met by the taxpayer now or in the future.

The details of this estimate, the necessity therefor, and the reason for its transmission at this time are set forth in the letter of the Director of the Bureau of the Budget transmitted herewith, with whose comments and observations…