Herbert Hoover actually said...

This is a period when the ideals and hopes which have made America the envy of the world are being tested.

It is possible, indeed, that this chapter of history, instead of being written wholly in terms of darkness and despair, may yet be recorded ...

No meeting of this club could assemble at this period without some reference to the hard times which surround us.

The first duty of the Government-that is, to secure social tranquillity and to maintain confidence in our institutions--has been performed.