Herbert Hoover actually said...

As shown by the Interstate Commerce Commission, excluding those roads already in receivership, the number of railways earning less than fixed charges is only about 16 percent or 17 percent of the whole.

Context

Statement on Financial Assistance to Railroads.

12/17/1931

https://www.presidency.ucsb.edu...

More Herbert Hoover Quotes

The nature of your organization of itself demonstrates that American business survives all ebbs and flows of economic tides, and moves forwa...
3/14/1932
I have no doubt that benefits will show at once in business, in employment, in agriculture, and in the prosperity of the people of the town ...
3/14/1932
Your enterprise and courage is an admirable instance of restoring confidence.
3/14/1932
He was one of the most generous and most constructive philanthropists of history.
3/14/1932

View All Herbert Hoover Quotes