the fundamental business of the country, that is, production and distribution of commodities, is on a sound and prosperous basis.

Herbert Hoover, October 25, 1929

• not a crazy statement.

The President's course in this troublous time has been all that could be desired. No one in his place could have done more; very few of his predecessors could have done as much.

• New York Times

No American could have provided a fairer test of the capacity of the business community to govern a great and multifarious nation than Herbert Hoover.

• Arthur Schlesinger

Coolidge gives up hope.

In other periods of depression, it had always been possible to see some things which were solid and upon which you could base hope. But as I look about, I now see nothing to give ground for hope, nothing of man.