Economy and efficiency can come only through modernization.

The amount of saving in public funds to be effected by a thoroughgoing reorganization, while difficult to estimate accurately, will be material, amounting to many millions of dollars annually.

The need for reorganization is obvious.

Please convey to the Grand Street Boys and their guests, the Disabled Veterans of the World War of the metropolitan area of New York, my cordial greetings in connection with the annual dinner.

There is little hope for success in this task unless it is placed in the hands of some one responsible for it, with authority and direction to act.

It will be necessary also to authorize changes in titles of some officials and to create a few new positions in order to permit grouping and consolidation not now possible.

The occasion reflects the gratitude which all citizens will feel for all time for their unselfish service to the country.

This order is issued upon the recommendation of the Secretary of Agriculture.

It is an economy measure, one that is long overdue.

Of course, hoarding is just one of the parts of the vicious cycle that starts from a shortage of credit.

The public can understand that if one local merchant finds it difficult to borrow from the banks his normal credit to maintain a stock of goods, he necessarily shortens down on his stocks and this reflects right back to the manufacturer…