Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

Herbert Hoover

Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was the 31st President of the United States (1929–1933). He was a professional mining engineer and was raised as a Quaker. A Republican, Hoover served as head of the U.S. Food Administration during World War I, and became internationally known for humanitarian relief efforts in war-time Belgium. As the United States Secretary of Commerce in the 1920s under Presidents Warren G. Harding and Calvin Coolidge, he promoted partnerships between government and business under the rubric "economic modernization". In the presidential election of 1928, Hoover easily won the Republican nomination, despite having no elected-office experience.

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