[Released February 5, 1930. Dated January 31, 1930]
My dear Mr. Koch:
I am indeed glad to learn that an extensive survey of conditions in representative retail stores throughout the country indicates the sustained buying power of the people. The cooperation of the members of the National Retail Dry Goods Association looking toward maintenance of economic stability is a powerful aid to a nationwide movement that gives every evidence of success.
Yours faithfully,
HERBERT HOOVER
Note: The message, sent to Alfred B. Koch, president, National Retail Dry Goods Association, Hotel Pennsylvania, New York City, was read during a meeting of the association.
The organization was one of the groups represented in and cooperating with the National Business Survey Conference. The report referred to was based on a nationwide survey of 780 stores by the association's publication, the Dry Goods Economist.
Herbert Hoover, Message to the National Retail Dry Goods Association. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/211255