In his run for the Presidency against Herbert Hoover in 1932, on economics Franklin D. Roosevelt
had a breezy and disconcerting ability to put forward contradictory policies without the slightest embarrassment. So while he pledged to increase federal relief for unemployment, supported higher tariffs, government development of power projects, increased regulation of securities markets, and the separation of commercial and investment banking, he also criticized Hoover for fiscal extravagance, accused him of encouraging inflation, and promised to balance the budget and commit himself to "sound money." But voters did not care about consistency, they wanted bold action. In November 1932, Roosevelt got 22.8 million votes against Hoover's 15.7 million, the greatest electoral sweep since Lincoln beat McClellan in 1864.
- Liaquat Ahamed, Lords of Finance, 2009, p. 442
An earlier reference to F.D.R. here.
