Herbert Hoover

Conservation of our oil and gas resources against future need is a national necessity.

I do not favor the operation by the Government of either power or manufacturing business except as an unavoidable by-product of some other major public purpose.

By such means advancing discoveries of science can be systematically applied to agricultural need, and development of the chemical industry of the Tennessee Valley can be assured.

It is my belief that such parts of these plants as would be useful and the revenues from the remainder should be dedicated for all time to the farmers of the United States for investigation and experimentation on a commercial scale in…

To encroach upon their authorities and responsibilities would be an encroachment upon the rights of the States.

It has been proposed that permission should be granted to national banks to engage in branch banking of a nature that would preserve within limited regions the local responsibility and the control of such credit institutions.

The relinquishment of charters of national banks in great commercial centers in favor of State charters indicates that some conditions surround the national banks which render them unable to compete with State banks; and their withdrawal…

The growth in size and stability of the metropolitan banks is in marked contrast to the trend in the country districts, with its many failures and the losses these failures have imposed upon the agricultural community.

To some degree, however, this movement of chain or group banking is a groping for stronger support to the banks and a more secure basis for these institutions.

Legislation to simplify and expedite consolidation methods and better to protect public interest should be enacted.

In this way the country will have the assurance of better service and ultimately at lower and more even rates than would otherwise be attained.

The chief purpose of consolidation is to secure well-balanced systems with more uniform and satisfactory rate structure, a more stable financial structure, more equitable distribution of traffic, greater efficiency, and single-line instead…

Through this assistance the Nation is building a sound aviation system, operated by private enterprise.

These invisible bonds should not and can not be shattered by differences of opinion growing out of discussion of a tariff.

The complete interlocking of economic dependence, the common striving for social and spiritual progress, our common heritage as Americans, and the infinite web of national sentiment, have created a solidarity in a great people unparalleled…

The prosperity of one rests upon the well-being of the other.

Lowering of the standards of living of either tends to destroy the other.

There is no fundamental conflict between the interests of the farmer and the worker.

Injustices are bound to develop, such as were experienced by the dairymen, the flaxseed producers, the glass industry, and others, under the 1922 rates.

It seems but natural, therefore, that the American farmer, having been greatly handicapped in his foreign market by such competition from the younger expanding countries, should ask that foreign access to our domestic market should be…

The great expansion of production abroad under the conditions I have mentioned renders foreign competition in our export markets increasingly serious.

Such a tariff not only protects the farmer in our domestic market but it also stimulates him to diversify his crops and to grow products that he could not otherwise produce, and thus lessens his dependence upon exports to foreign markets.

At that time I stated the principles upon which I believed action should be taken in respect to the tariff: "An effective tariff upon agricultural products, that will compensate the farmer's higher costs and higher standards of living, has…

A very large degree of industrial unemployment and suffering which would otherwise have occurred has been prevented.

I am convinced that through these measures we have reestablished confidence.