In the larger view the major forces of the depression now lie outside of the United States, and our recuperation has been retarded by the unwarranted… - Herbert Hoover

You convey too great a compliment when you say that I have earned the right to the presidential nomination. No man can establish such an obligation upon any part of the American people. My country owes me no debt. It gave me, as it gives every boy and girl, a chance. It gave me schooling, independence of action, opportunity for service and honor. In no other land could a boy from a country village, without inheritance or influential friends, look forward with unbounded hope. My whole life has taught me what America means. I am indebted to my country beyond any human power to repay.

While the crash only took place six months ago, I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover. There is one certainty of the future of a people of the resources, intelligence and character of the people of the United States—that is, prosperity.

Our people are steadily increasing their spending for higher standards of living. Today there are almost nine automobiles for each ten families, where seven and one-half years ago only enough automobiles were running to average less than four for each ten families. The slogan of progress is changing from the full dinner pail to the full garage. Our people have more to eat, better things to wear, and better homes.