THE PRESIDENT said:
"Since my return from the Central West yesterday I have conferred with those leaders of both political parties who are present in Washington with respect to certain steps which we might take to assist in economic recovery both here and abroad.
"These conversations have been particularly directed to strengthening the situation in Germany. No definite plans or conclusions have yet been arrived at but the response which I have met from the leaders of both parties is most gratifying.
"Any statement of any plan or method is wholly speculative and is not warranted by the facts."
Note: Since June 5, 1931, the administration had been considering a possible one year moratorium on intergovernmental debts and reparations. For the President's Diary of Developments of the Moratorium, see Supplement I.
Herbert Hoover, Statement About Conferences on the Economic Situation in Germany. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/211213