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Source Notes: Source: President HERBERT HOOVER, address at Des Moines, Iowa, October 4, 1932.The Public Papers of the Presidents of the United States: Herbert Hoover, 19321933, p. 467.President Hoover referred to three great perils that the nation faced. The first of these was the strangulation of credit through the removal of 3 billions of gold and currency by foreign drains and by the hoarding of our own citizens from the channels of our commerce and business.
Herbert Clark Hoover (August 10, 1874 October 20, 1964) the 31st President of the United States (1929-1933). He was a successful mining engineer, humanitarian, and administrator.