My only comment that I could properly make is that it is a very notable contribution to stability and to progress, and I think the American people should be gratified at the contribution which Messrs. [Owen D.] Young, [John Pierpont] Morgan and [Thomas W.] Lamont have made to bring it to a successful conclusion.
The President's News Conference
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More from Herbert Hoover
The enactment of the legislation which has been recommended creating the system of home loan discount banks.
But beyond platforms and measures there lies that sacred realm of ideals of hopes and aspirations, those things of the spirit, which make the greatness and the soul of the Nation.
And bank failures which amounted to nearly 100 a week when the Corporation began are now down to about the casualties of normal times.
These are our objectives and with unceasing effort, with courage and faith in Almighty God, they will be attained.
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