Herbert Hoover actually said...

The public can understand that if one local merchant finds it difficult to borrow from the banks his normal credit to maintain a stock of goods, he necessarily shortens down on his stocks and this reflects right back to the manufacturer and thus into unemployment.

02/15/1932

https://www.presidency.ucsb.edu...

More Herbert Hoover Quotes

"The fifth of the commissions that have been appointed to determine the fact and to advise upon or negotiate special problems has now completed its report and secured a very admirable result."
"The bridge will be constructed by local authorities."
"I have a number of questions about my trip to the West, and in view of the drought situation and the feeling that I can perhaps be of greater service here, I do not propose to go west--at least during..."
"After several years of delay in settlement of a site for a much needed bridge across San Francisco Bay, due to disagreements between the naval authorities, the Army engineers, the municipal and State ..."

View All Herbert Hoover Quotes