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1931 USA: Ogden Mills press conference on the Hoover Plan.
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May 7, 2026
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May 7, 2026
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0:56Now PlayingDate: 1st January 1931
Location: WASHINGTON, D.C., U.S.
Source: Reuters Historical News Collection: BRITISH PARAMOUNT NEWSREEL (REUTERS)
USA: Washington DC:
INT
Ogden Mills (US Treasury Under-Secretary) press conference SOT
- present depression is world wide / the conditions in other countries, more severely affected than our own, retard our recovery
- usually there is little govts can do but inter-governmental debts are definite in form and their immediate impact can be suspended
- amounts, which under normal conditions are not burdensome, weigh heavily in a period of depression and both psychologically and actually, are a real barrier to recovery
- the president's programme will afford the world a much needed breathing space
- his leadership will, in my judgement, go a long way towards restoring the confidence without which an early recovery from the current depression is impossible
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