Herbert Hoover actually said...

Available money for mortgage purposes of home building and agriculture has lagged behind other forms of credit.

But a decrease in demands of policyholders for loans on the insurance companies and the action recently taken by the Federal Reserve System ...

If the board finds it necessary to have further funds it should be possible to make provision for them in ample time, as Congress will no do...

The low point of business and employment was the latter part of December and early January.