June 06, 1932
THE PRESIDENT said:
"The willingness of our people to accept this added burden in these times in order impregnably to establish the credit of the Federal Government is a great tribute to their wisdom and courage. While many of the taxes are not as I desired, the bill will effect the great major purpose of assurance to the country and the world of the determination of the American people to maintain their finances and their currency on a sound basis."
Note: As enacted, the Revenue Act of 1932 (H.R. 10236), approved June 6, 1932, is Public, No. 154 (47 Stat. 169).
Herbert Hoover, Statement on Signing the Revenue Act of 1932. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/207007