The loans so far undertaken to banks, trust companies, building and loan and other financial institutions, as provided in the act, amounts in round numbers to $61,800,000

And that is all I have got today

I hear from all sides fine compliments on the entertainment which you gentlemen provided the other night

The Federal Government should be in such position that it will need issue no securities which increase the public debt after the beginning of the next fiscal year, July 1.

The money placed at the disposal of agriculture through Secretary Hyde and the intermediate credit banks amounts to $75 million

The loans made to railroads amount to $47 million

The whole of the administrative officials are cooperating with the special Economy Committee appointed by the House of Representatives in the drive to bring about further drastic economies in Federal expenditure.

I cannot too much overemphasize the importance and the able nonpartisan effort being made by both the Economy Committee of the House and the Ways and Means Committee

This includes 255 different institutions, the great majority of them being country banks

I wish to congratulate you most heartily upon your ninety-first birthday, and to wish you every blessing.

There is nothing more important than the balancing of the budget with the very least increase in taxes