"The depression has ended." - Dr. Julius Klein, Assistant
Secretary of Commerce
Quote
September 1929
"There is no cause to worry. The high tide of prosperity will
continue." — Andrew W. Mellon, Secretary of the Treasury.
October 14, 1929
"Secretary Lamont and officials of the Commerce Department today
denied rumors that a severe depression in business and industrial
activity was impending, which had been based on a mistaken interpretation
of a review of industrial and credit conditions issued earlier in
the day by the Federal Reserve Board." — New York Times
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.
(ARTICLE CONTINUES BELOW)
January 13, 1930
"Reports 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 temporary period of emergency that followed deflation of
the speculative market were seen today by President Hoover. The President
said the reports to the Cabinet showed the tide of employment had
changed in the right direction." - News dispatch from Washington.
January 24, 1930
"Trade recovery now complete President told. Business survey
conference reports 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." - Washington 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."
- Washington dispatch.
October 21, 1930
"President Hoover has summoned Colonel Arthur Woods to help place
2,500,000 persons back to work this winter." - Washington 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.
For those of you that are history impaired, The Great Depression did not end until after 1941, and only because we entered into WWII.
