December 5, 1929
"The Government's business is in sound condition."
- Andrew W. Mellon, Secretary of the Treasury
December 28, 1929
"Maintenance of a general high level of business in the United States
during December was reviewed today by Robert P. Lamont, Secretary of
Commerce, as an indication that American industry had reached a point
where a break in New York stock prices does not necessarily mean a
national depression."
- Associated Press dispatch.
January 13, 1930
"Re****ts to the Department of Commerce indicate that business is in a
satisfactory condition, Secretary Lamont said today."
- News item.
January 21, 1930
"Definite signs that business and industry have turned the corner from
the tem****ary period of emergency that followed deflation of the
speculative market were seen today by President Hoover. The President
said the re****ts to the Cabinet showed the tide of employment had
changed in the right direction."
- News dispatch from Wa****ngton.
January 24, 1930
"Trade recovery now complete President told. Business survey
conference re****ts industry has progressed by own power. No Stimulants
Needed! Progress in all lines by the early spring forecast."
- New York Herald Tribune.
March 8, 1930
"President Hoover predicted today that the worst effect of the crash
upon unemployment will have been passed during the next sixty days."
- Wa****ngton dispatch.
May 1, 1930
"While the crash only took place six months ago, I am convinced we
have now passed the worst and with continued unity of effort we shall
rapidly recover. There is one certainty of the future of a people of
the resources, intelligence and character of the people of the United
States - that is, prosperity."
- President Hoover
June 29, 1930
"The worst is over without a doubt."
- James J. Davis, Secretary of Labor.
August 29, 1930
"American labor may now look to the future with confidence."
- James J. Davis, Secretary of Labor.
September 12, 1930
"We have hit bottom and are on the upswing."
- James J. Davis, Secretary of Labor.
October 16, 1930
"Looking to the future I see in the further acceleration of science
continuous jobs for our workers. Science will cure unemployment."
- Charles M. Schwab.
October 20, 1930
"President Hoover today designated Robert W. Lamont, Secretary of
Commerce, as chairman of the President's special committee on
unemployment."
- Wa****ngton dispatch.
October 21, 1930
"President Hoover has summoned Colonel Arthur Woods to help place
2,500,000 persons back to work this winter."
- Wa****ngton dispatch.
November 1930
"I see no reason why 1931 should not be an extremely good year."
- Alfred P. Sloan, Jr., General Motors Co.
January 20, 1931
"The country is not in good condition."
- Calvin Coolidge.
June 9, 1931
"The depression has ended."
- Dr. Julius Klein, Assistant Secretary of Commerce.
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