11/25/1929
https://www.presidency.ucsb.edu...
"On the contrary I am convinced that it would bring disaster to the American farmer."
"The plan would require a substantial increase in taxes as no such expenditure or depletion of revenues as this plan implies could be paid from marginal income of the government more particularly in vi..."
"No individual has the right to determine what law shall be obeyed and what law shall not be enforced."
"Altogether, from the above reasons, it is my belief that the theoretical benefits would not be reflected to the American farmer; that it would create profiteering; that it contains elements which woul..."