Statement on the Tariff Bill.
06/15/1930
https://www.presidency.ucsb.edu...
Since that time it has not only stopped, but it is estimated that $34 million has been returned to circulation from hoarding.
Up to a few days previous to that time hoarding was greatly on the increase.
Of course, hoarding is just one of the parts of the vicious cycle that starts from a shortage of credit.
I am glad to report that since February 4 when I took action on hoarding, there has been an entire turn of the tide.