Herbert Hoover actually said...

"While the plan is particularly aimed to economic relief, yet economic relief means the swinging of men's minds from fear to confidence, the swinging of nations from the apprehension of disorder and go..."

"It is effective July 1."

"I am glad to announce that the American proposal for 1 year's postponement of all intergovernmental debts and reparations has now been accepted in principle by all of the important creditor government..."

"I think it is morally in effect."