Herbert Hoover actually said...

"What we are trying to do is open the channels of credit so as to dissipate fear and apprehension in the minds of the bankers and the public and businessmen, and thereby restore the people to their nor..."

"When a railway goes into receivership from inability to find money with which to pay interest on bonds, then again not only do we have depreciation in prices of these securities, but it affects the as..."

"I have myself been advocating this for the last 6 years."

"Up to a few days previous to that time hoarding was greatly on the increase."