14 Herbert Hoover Quotes on Economy

Herbert Hoover quotes on economy

3. I have... instituted systematic, voluntary measures of cooperation with the business institutions and with State and municipal authorities to make certain that fundamental businesses of the country shall continue as usual, that wages and therefore consuming power shall not be reduced, and that a special effort shall be made to expand construction work in order to assist in equalizing other deficits in employment... I am convinced that through these measures we have reestablished confidence. Wages should remain stable. A very large degree of industrial unemployment and suffering which would otherwise have occurred has been prevented. Agricultural prices have reflected the returning confidence. The measures taken must be vigorously pursued until normal conditions are restored.

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

7. Blessed are the young, for they shall inherit the national debt.

15. About the time we can make the ends meet, somebody moves the ends.

29. Our people are steadily increasing their spending for higher standards of living. Today there are almost nine automobiles for each ten families, where seven and one-half years ago only enough automobiles were running to average less than four for each ten families. The slogan of progress is changing from the full dinner pail to the full garage. Our people have more to eat, better things to wear, and better homes.

30. Wages have increased, the cost of living has decreased. The job of every man and woman has been made more secure. We have in this short period decreased the fear of poverty, the fear of unemployment, the fear of old age; and these fears that are the greatest calamities of human kind.

35. Prosperity cannot be restored by raids upon the public Treasury.

36. It does not follow, because our difficulties are stupendous, because there are some souls timorous enough to doubt the validity and effectiveness of our ideals and our system, that we must turn to a state controlled or state directed social or economic system in order to cure our troubles.

37. No country can squander itself to prosperity on the ruin of its taxpayers.

46. Economic depression can not be cured by legislative action or executive pronouncement.

48. I am firmly opposed to the government entering into any business the major purpose of which is competition with our citizens... for the Federal Government deliberately to go out to build up and expand... a power and manufacturing business is to break down the initiative and enterprise of the American people; it is the destruction of equality of opportunity amongst our people, it is the negation of the ideals upon which our civilization has been based.

50. In the larger view the major forces of the depression now lie outside of the United States, and our recuperation has been retarded by the unwarranted degree of fear and apprehension created by these outside forces.

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

61. Once upon a time my political opponents honored me as possessing the fabulous intellectual and economic power by which I created a worldwide depression all by myself.