Political Quotes

On the recordFebruary 26, 1932
The gradual credit contraction during the past 8 months arising indirectly from causes originating in foreign countries and continued domestic deflation, but more directly from hoarding, has been unquestionably the major factor in depressing prices and delaying business recovery.
Said by
Herbert Hoover
Republican · California

Editor's note · Context

Statement on Signing the Federal Reserve Act, Amendments

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