February 16, 1932
THE PRESIDENT said:
"I am glad to report that since February 4 when I took action on hoarding, there has been an entire turn in the tide. Up to a few days previous to that time hoarding was greatly on the increase. Since that time it has not only stopped, but it is estimated that $34 million has been returned to circulation from hoarding."
Herbert Hoover, Statement on Hoarding of Currency. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/208205