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Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

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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.

A bit about Herbert Clark Hoover ...

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.

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