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The President's News Conference

January 19, 1932

RECONSTRUCTION FINANCE CORPORATION

THE PRESIDENT. I have requested General [Charles G.] Dawes to accept the position of President of the new Reconstruction Corporation. It is gratifying to state that he has accepted. Mr. Eugene Meyer, Governor of the Federal Reserve Board, will also be the Chairman of the Board of the Reconstruction Corporation. In order that we may preserve the nonpartisan character of the institution, the other Directors will be chosen after consultation with the leaders of both political parties on the completion of the legislation. And I announce General Dawes' name at this time because of the required change in plans as to the chairmanship of the delegation to the Arms Conference. Otherwise, General Dawes would be leaving for Europe tomorrow.

GENERAL DISARMAMENT CONFERENCE

And then, in view of the change in General Dawes' plans, Secretary Stimson has undertaken the chairmanship of the delegation to the Arms Conference at Geneva. The Secretary will not attend the opening meetings but will take part in the work of the commission after the preliminaries have been disposed of Ambassador [Hugh S.] Gibson will be the Acting Chairman of the delegation.

That is all the news I have today.

Note: President Hoover's two hundred and thirtieth news conference was held in the White House at 12 noon on Tuesday, January 19, 1932.

On the same day, the White House issued texts of the President's statements on appointments to the Reconstruction Finance Corporation (see Item 24) and to the United States delegation to the General Disarmament Conference (see Item 25).

Herbert Hoover, The President's News Conference Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/207207

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