Whatever the causes may be, the vast liquidation and readjustments which have taken place have left us with a large degree of credit paralysis, which together with the situation in our railways and the conditions abroad, are now the outstanding obstacles to recuperation.
Hoover discusses the significant economic challenges, including credit paralysis, that hinder recovery efforts.
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More from Herbert Hoover
It was unfortunate also that the provision for agricultural relief through the Reconstruction Corporation was omitted.
The armaments of the world have grown up in general mutual relation to each other.
While these features in the Wagner and the Garner bills are not in the form and are not as well safeguarded as they should be, they are in line with major objectives I have been advocating.
Our Army, including the National Guard and all other reserves, has already been reduced much below the European standard 'police component.'
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