By Michael R. Aldrich
A hundred% of the sale is going to aid the Humane Society of Southern Arizona.
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As a geologist and engineer he had been at the forefront of mining developments on the frontiers of three continents. He believed that if a man 'has not made a million by the time he is forty he is not worth much'. By 1918 this poor Quaker boy from Iowa was worth $4 million. But he was also a humanitarian public servant. As administrator of relief to the starving Belgians in 1915, then as Food Administrator during the war, and finally as overseer of relief to the ravaged Europe of the post-war years, Hoover developed an immense reputation as a 42 The New Deal compassionate but remarkably efficient organiser.
In 1931 when Britain went off the gold standard, thus increasing the pressure on the dollar and US gold reserves, the president persuaded bankers to organise a National Credit Corporation to pool private credit resources in order to protect the nation's financial institutions. Similarly in the provision of unemployment relief, Hoover sought to tap the spirit of voluntary cooperation in the country. 46 The New Deal First through the President's Emergency Committee on Employment, then through the President's Organization for Unemployment Relief, the government attempted to stimulate the wealthy and private charities to contribute to relief and publicised the initiatives of local governments.
But the Farm Board did not have unlimited funds. The hope was that keeping surpluses off the market would force prices up. When prices continued to fall, not only did the stabilisation corporations have to stop purchases, but they also had to unload some of their stocks, further glutting the market and depressing prices. The president's only response was to exhort farmers to reduce production. But farmers were not going to do that unless they had some guarantee that other farmers would do the same.