Herbert Hoover actually said...

"Moreover, there has been a tendency of wages to increase, the output per worker in many industries again shows an increase, all of which indicates a healthy condition."

"The construction and building material industries have been to some extent affected by the high interest rates induced by stock speculation and there has been some seasonal decrease in one or two othe..."

"There has been a tendency for wage increases and the output per worker has increased, all of which indicates a very healthy situation."

"The best evidence is that although production and consumption are at high levels, the average prices of commodities as a whole have not increased and there have been no appreciable increases in the st..."