Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves.

America was at the height of an economic bubble at the time facilitating a landslide victory for Hoover over Democrat Al Smith. Roosevelt's New Deal. Hoover a globally experienced engineer believed strongly in the Efficiency Movement which held that the government and the economy were riddled with inefficiency and waste and could be improved by experts who could identify the problems and solve them.