President Hoover’s Farewell Address (Literary Digest, 1933)
With FDR waiting in the wings, eagerly anticipating the start of his administration, the outgoing president, Herbert Hoover (1874 – 1964), made his farewell address to the cash-strapped nation:
Warning against the ‘rapid degeneration into economic war which threatens to engulf the world’ the President said that ‘the imperative call to the world today is to prevent that war.’ The gold standard, he said ‘is the need of the world,’ for only by the early reëstablishment of that standard can the barriers to trade be reduced.’
Read about the Great Depression and the U.S. auto industry during the last year of the Hoover presidency…
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