03/07/1931
https://www.presidency.ucsb.edu...
"The deficit is from about $900 million to $950 million, of which about $440 million will be due to the statutory redemption of the debt."
"I have sent a letter to the Secretary of War congratulating the Department for the success in the conduct of the maneuvers."
"They have during the year saved about $11 million by economies throughout the various divisions."
"Of the appropriations for this next year and these balances, it is expected that about $20 million will be saved during the next year."