Herbert Hoover

The economic depression has continued and deepened in every part of the world during the past year.

If the world is to regain its standards of life, it must further decrease both naval and other arms.

The Nation has emerged from each of them with increased strength and virility because of the enlightenment they have brought, the readjustments and the larger understanding of the realities and obligations of life and work which come from…

There has been constant gain in knowledge and education; there has been continuous advance in science and invention; there has been distinct gain in public health.

The country is richer in physical property, in newly discovered resources, and in productive capacity than ever before.

Above all there is an enlargement of social and spiritual responsibility among the people.

For the first time in the history of our major economic depressions there has been a notable absence of public disorders and industrial conflict.

In meeting the problems of this difficult period, we have witnessed a remarkable development of the sense of cooperation in the community.

If we lift our vision beyond these immediate emergencies we find fundamental national gains even amid depression.

Our national concern has been to meet the emergencies it has created for us and to lay the foundations for recovery.

By this treaty we have abolished competition in the building of warships, have established the basis of parity of the United States with the strongest of foreign powers, and have accomplished a substantial reduction in war vessels.

The advance of scientific discovery, methods, and social thought imposes a new vision in these matters.

I urge further consideration by the Congress of the recommendations I made a year ago looking to the development through temporary Federal aid of adequate State and local services for the health of children and the further stamping out of…

To prevent the occasion for further uneconomic leasing I recommend that the Congress authorize the building by the Government of its own facilities.

The very method of their entry indicates their objectionable character, and our law-abiding foreign-born residents suffer in consequence.

Under conditions of current unemployment it is obvious that persons coming to the United States seeking work would likely become either a direct or indirect public charge.

There is need for revision of our immigration laws upon a more limited and more selective basis, flexible to the needs of the country.

I believe this to be the case and I recommend that a study be made of the economic effects of this tax and of its relation to the general structure of our income tax law.

It is urged by many thoughtful citizens that the peculiar economic effect of the income tax on so-called capital gains at the present rate is to enhance speculative inflation and likewise impede business recovery.

I therefore suggest that an inquiry be directed especially to the effect of the workings of the antitrust laws in these particular fields to determine if these evils can be remedied without sacrifice of the fundamental purpose of these…

The people have a vital interest in the conservation of their natural resources; in the prevention of wasteful practices; in conditions of destructive competition which may impoverish the producer and the wage earner; and they have an…

Competition is not only the basis of protection to the consumer but is the incentive to progress.

The prevention of monopolies is of most vital public importance.

In the public interest we should strengthen the railways that they may meet our future needs.

We have determined upon a national policy of consolidation of the railways as a necessity of more stable and more economically operated transportation.