PRESIDENT HOOVER

Hokitika Guardian, 16 June 1931, Page 6

PRESIDENT HOOVER

REVIEW OF SITUATION

WORLD CRITICS DECRIED

I Mted Pross Association —By Electric , Telegraph—Copyright. )

(Received this day at 9.25 a.in)

NEW YORK, June 15

At Indianopolis, President Hoover, jin a remarkable address before the Republican Editorial Association, dealing with the depression, blamed American (lonciitions on other countries of the world, and decided critics who demand j a five-year plan like Russia’s for the i United States. The main causes of the extreme violence and long continuance of the depression, came out to these shores from aboard, but are the malign inheritances in Europe of the Gixsat War. The President stressed that America was more self-ejbi?taiiied economically than any other great nation. He declared that the underlying forces of recovery were asserting themselves. He outlined remedial steps taken by his administration and spoke against the dole and against intimations from abroad that the American tariff lie revised and from within, but outside the United States. Had our wild speculation over stock promotion with its infinite losses and hardships to innocent people, our loose and extravagant business methods and our unprecedented drought been our only disasters, wo would have recovered several months ago a large part of the forces which had swept over. He concluded with assertion that America has a “plan”, namely to provide for a twenty million increase of population in the next twenty years, and for their happiness and well-being.