I would put it parallel with the merchant marine reorganization.

Your annual Christmas service held at the foot of a living tree antedating the birth of Christ, is a dramatic and inspiring event of national interest.

It symbolizes and vivifies our greatest Christian festival with its eternal message of unselfishness, joy and peace.

It is not intended by this order to give any publicly owned lands a national-forest status which have hitherto not had such status nor to remove any publicly owned lands from a national-forest status.

In saving the collapse of Germany by the year's postponement the American people have done something greater than the dollars and cents gained from the maintenance of our agricultural markets, the prevention of panic and unlimited losses.

No part of the debt owing to us has been cancelled or reduced; the postponed amounts are repayable over a period of about 10 years with interest at 4 percent.

I have signed the act authorizing the foreign debt postponement for one year.

We cannot suspend the functioning of the Federal Government at such a time.

While I see little objection to the day following Christmas in order that Federal employees may have an opportunity to join their families out of town, I do not feel that we should extend the holidays at New Year's.

I have received requests from Federal employees in the District that they should be given two periods of holidays so as to cover the Saturday following Christmas Day, and from New Year's Day until January 4.

Leaders of both Houses have assured me that Congress will devote itself to the economic emergency program which I have proposed for the amelioration of agricultural, unemployment, and credit situations.

While I see little objection to the day following Christmas in order that Federal employees may have the opportunity of joining their families out of town, I do not feel that we should extend the holiday at New Year's.

General [Charles G.] Dawes will head the disarmament delegation.

I spoke of the invitation which this Government has accepted to participate in the General Disarmament Conference which is to meet at Geneva on February 2, 1932.

I am transmitting herewith and I commend to the favorable consideration of the Congress a report on the subject from the Secretary of State in which he requests that authorization be made for an appropriation to defray the expenses of…

It is my privilege to convey to you at this holiday season the nation's tribute of remembrance and gratitude for your service in defense of our country.

In extending to you a greeting of good cheer at Christmas I express my earnest personal wish and that of all our people that the New Year may bring to you abundant blessings of contentment, health, hope and restoration.

I send you renewed assurance of the nation's gratitude and devotion to your needs.