Political Quotes

Herbert Hoover: “The relinquishment of charters of national banks in great commercial centers in favor of State charters indicates that…”

On the record
The relinquishment of charters of national banks in great commercial centers in favor of State charters indicates that some conditions surround the national banks which render them unable to compete with State banks; and their withdrawal results in weakening our national banking system.
Said by
Herbert Hoover
Republican · California

Editor's note · Context

Hoover notes the implications of national banks relinquishing charters in favor of state banks, affecting the national banking system.

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