The Depression Papers of Herbert Hoover

Economic Recovery Measures

Two years after the stock market crash, economic recovery was nowhere to be seen. In a new effort to turn the country around, Hoover developed a broad economic recovery program, which he introduced in December 1931. The first half of 1932 was spent pushing the legislative parts of the program through Congress.

• Statment, November 4, 1931
  The White House explains the purpose of Hoover's recent conferences on home mortgages.
• Press statement, November 13, 1931
  Hoover outlines his proposal for a national Home Loan Discount Bank system.
• Press statement, December 11, 1931
  Hoover outlines his proposed recovery measures.
• Press conference statement, December 18, 1932
  Hoover discusses measures to prevent railroad defaults and bankruptcies.
• Message to Congress, January 4, 1932
  Hoover urges Congress to pass the recovery measures.
• Press statement, January 22, 1932
  Hoover signs the Reconstruction Finance Corporation Act.
• Press statement, January 23, 1932
  Hoover signs an act increasing lending by the Federal Land Banks.
• Press statement, Feruary 27, 1932
  Hoover signs an act increasing federal lending.
• Press conference statement, March 8, 1932
  Hoover reports the amount of loans made by the Reconstruction Finance Corporation.
• Telegram, March 15, 1932
  Hoover congratulates a Louisiana city bank on its reopening.
• Press statement, March 19, 1932
  Hoover discusses the formation of a policy to assist railroads.
• Press conference statement, March 25, 1932
  Hoover reports on lending by the Reconstruction Finance Corporation.
• Press statement, May 12, 1932
  Hoover proposes that the Reconstruction Finance Corporation be authorized to lend money for state public works.
• Press conference statement, May 13, 1932
  Hoover defends the use of emergency loans to fight the depression.
• Statement, June 5, 1932
  Hoover reports on the results of the Reconstruction Finance Corporation's operations, and proposes extensions of its authority.
• Press statement, July 6, 1932
  Hoover outlines his objections to the relief bill.
• Veto message, July 11, 1932
  Hoover vetoes the relief bill.
• Message to Congress, July 11, 1932
  Hoover requests changes in the board of the Reconstruction Finance Corporation.
• Press statement, July 17, 1932
  Hoover announces his intent to sign the amended relief bill.
• Press statement, July 22, 1932
  Hoover signs the Home Loan Bank Act.
• Press statement, July 29, 1932
  Hoover comments on recent conferences on economic recovery.
• Telegram, September 20, 1932
  Hoover refuses a request from the governor of Pennsylvania to intervene in the Reconstruction Finance Corporation on his behalf.
• Proclamation, December 8, 1932
  Hoover extends the Reconstruction Finance Corporation Act

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