Respectfully Quoted: A Dictionary of Quotations. 1989.
Herbert Clark Hoover (18741964)
Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
President HERBERT HOOVER, address at Des Moines, Iowa, October 4, 1932.The Public Papers of the Presidents of the United States: Herbert Hoover, 19321933, p. 467.
President Hoover referred to three great perils that the nation faced. The first of these was the strangulation of credit through the removal of 3 billions of gold and currency by foreign drains and by the hoarding of our own citizens from the channels of our commerce and business.