The President's News Conference
01/02/1930
https://www.presidency.ucsb.edu...
These are our objectives and with unceasing effort, with courage and faith in Almighty God, they will be attained.
These expenditures cannot be recovered; they must be met by the taxpayer now or in the future.
This reduction should be carried out not only by broad general cuts in armaments but by increasing the comparative power...
Our Army, including the National Guard and all other reserves, has already been reduced much below the European standard...