We are wisely committed to a policy which insures the further progressive reduction of the debt.

Our estimated expenditures for this and the next year are well within our expected receipts.

Our finances are in sound condition.

The obligations of this stewardship can not be met within the limits of the present appropriation.

The budget as it goes to Congress, of course, is built up by departments, and not by the particular purpose for which expenditures of the Government are made.

I have had here for some months a sort of a personal budget that I thought might be of interest to you after you have done with the budget message, and I will have the tables gotten out and released to you.

Programs now authorized will carry it to still larger figures in future years.

After 1914 the various Army contingents necessarily expanded to the end of the Great War and then receded to the low point in 1924, when expansion again began.

We can well be deeply concerned, however, at the growing expense.

I recommend that Congress give earnest consideration to the possibilities of prudent action which will give relief from our continuously mounting expenditures.

Our Army and Navy are being maintained in a most efficient state under officers of high intelligence and zeal.

So I thought--not for publication--but I will release it to you as soon as we get it mimeographed--probably let you have it for release on Thursday after you are done with the normal budget.