1 page on personal letterhead, 11 x 8.5 inches, Englewood, New Jersey, June 28, 1930. Written by the New Jersey Senator, optimistically forecasting the end of the Depression, in part: "...I think the Democrats will try to make the great issue of the campaign the question of unemployment and business depression. I am hoping that things will be a little better by the fall. Of course we are going to work out the present situation, but whether we are going to do it in three months or six months or a year no man can tell. We are really paying a penalty for excessive speculation, and too much anticipation of the future. I told President Hoover the other day that he was very fortunate in having the business depression...come in the first year rather than the third year of his administration..." One handwritten correction, two natural folds, and three torn punch-holes at the extreme right margin. Very good(-) condition.