Lot 569
Hoover, Herbert. Typed letter signed with holograph "Personal", on "Herbert Hoover" personal stationery, 10¼ x 7¼ in., 2 pages, no place, June 6, 1933. To Henry L. Stoddard, Esq., 280 Broadway, New York City, N.Y. Hoover, just out of office, strongly voices his views regarding the banking crisis and the new administrations solutions : "You and I know that if Roosevelt had cooperated there would have been no bank crisis; it would not have been necessary to close the banks; it would have been unnecessary to go off of the gold standard…events have made it possible for the Democratic Party to obtain momentary justification for the installation of their seventy five year old policies of fiat money and destruction of the savings of the people in pursuit of demagogic pandering to those who have never saved anything…more especially when those who have no savings find that the result of this robbery will vanish in the impoverishment of the country and into the hands of the large holders of equities - that the rich will get richer and everyone else will get poorer. The political future will hang on whether this inflation can be or is 'controlled.'…If it is stopped there the Democratic Party will get the credit for the uplift and it will remain indefinitely in power…There are other issues looming, however, that may destroy them even if all this monetary gamble is successfully won…The most hopeful thing that I see is that the exposure of the rottenness in personnel and in the organization of our financial system will lay the groundwork for a sound financial system…" Age toned. Paperclip rust marks left top margins of both pages. Vertical and horizontal folds.
Estimated Value $1,000 - 1,500.
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| Realized $600 |
