Herbert Hoover actually said...

It is an economy measure, one that is long overdue.

Since that time it has not only stopped, but it is estimated that $34 million has been returned to circulation from hoarding.

It is proposed to do this without disturbing any of the great major activities of the Government and independent agencies such as the ICC [I...

Of course, hoarding is just one of the parts of the vicious cycle that starts from a shortage of credit.