I) "it would impair the very basis of liberty and freedom"
II) "every alley of which leads to the destruction of self-government"
They demonstrate that Herbert Hoover (1874-1964) thought that in order to maintain liberty and freedom, the federal government should not intervene directly in state governments and the economic system.
In other words, Hoover thought that liberty and freedom are natural and exist as long as the government does not impose itself on people's lives. Thus, states should alleviate economic crises such as the Great Depression, as well as boost private enterprises such as banks.
