Herbert Hoover actually said...

"The prolongation of the depression by the succession of events in Europe, affecting as they have both commodity and security prices, has produced in some localities in the United States an apprehensio..."

"The times call for unity of action on the part of our people."

"There is no justification for any such situation in view of the strength of our banking system and the strong position of our Federal Reserve System."

"Our difficulty is a diffusion of resources and the primary need is to mobilize them in such a way as to restore, in a number of localities, the confidence of the banker in his ability to continue norm..."