hoover doodles.

one of these is a little to blury to read, it’s the text of a letter from jp morgan to hoover ten days prior to black tuesday.

“…there is nothing in the present situation to suggest that the normal economic forces, working to correct excesses and to restore the proper balance of affairs, are not still operative and adequate…During the six or more years of President Coolidge’s excellent administration the feeling was that he could be relied upon ‘not to rock the boat’…corrective action on the part of public authorities or individuals need not at this time be contemplated.”

hoover said it best in ’31, “this document is fairly amazing in light of two years after.”

Leave a Reply

Your email address will not be published. Required fields are marked *