Word: hooverness
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TIME (June 14) reports a speech by Herbert Hoover in which he asserted that we have no important food supplies with which to meet the demands of starving people if the war should suddenly end, and in which he asserted that the policy of restrictions imposed on farmers by the present administration has taken 47 million acres out of production...
...Hoover's Answer. After killing sub sidies, Congress was pushing for enactment of the Fulmer bill, which would centralize under one responsible head the functions of food production, distribution, prices, rationing. In this they heeded Herbert Hoover, who praised the bill...
After the war, Bernie Baruch went back to finance-this time as a creative investor. He made money during the '20s, quietly liquidated his investments before the 1929 crash. He went on serving as unofficial adviser to Presidents: Harding, Coolidge, Hoover. Under Franklin Roosevelt he has been a mother lode of fact and theory to the Administration-as well as its severest friendly critic...
...Hoover & Mr. Gibson do not attempt the presently impossible job of defining their world institution in concrete terms, but they do point out in detail why they believe the League of Nations failed. Presumably, the world institution would be something like the League of Nations-with Hoover & Gibson improvements...
...Subsidies are themselves inflationary. They keep prices down artificially at a time when the average consumer already has more money than he can spend, as he buys up what goods there are. As ex-President Herbert Hoover said last week: so long as excess money is not drained off, subsidies "are like cleaning a room by sweeping the dirt under...