August 11, 1931
The moratorium agreement proposed by President Hoover is signed by 18 countries in London.
September-October
The bank panic increases as over 800 banks are closed in two months. Individuals start to hoard gold.
As an indication of the expansion of the building program, President Hoover said in a progress statement in mid-term, November 4, 1931:
"That portion of the Federal program of aid to unemployment comprised in the great expansion of public buildings under the Treasury Department shows the following progress since the report of September 1. There is a total of 817 projects which have so far been specifically authorized...
A) A total of 131 buildings have been completed at a total cost of $41,934,569....
B) There were 270 buildings in construction at the first of November by contract, at an estimated cost of $229,772,700...
C) There are 64 projects in which sites have been arranged, drawings are completed, for which construction contracts have been invited, of a total estimated cost of $19,970,500.
D) There are 240 projects in which sites have been selected, and on which plans are now under way of a total estimated cost of $141,947,923...
It is estimated that the number of men now directly and indirectly employed on this program is 50,000. It is estimated by the Treasury Department that the number that will be directly and indirectly employed on January 1st is 100,000. (Memoirs)
To be continued: The Hoover Administration Year 1931 #3
To Contact: miriam@thehistorybox.com
*
No comments:
Post a Comment