I am glad to sign the third of our reconstruction measures--that providing additional capital to the Federal land banks.

It should (a) reinforce the credit of the Federal land bank system and reassure investors in land bank bonds;

It is further expressly understood and agreed that if it should be found by the contracting officer that any laborer or mechanic employed by the contractor or any Subcontractor on the public work covered by this contract has been or is…

This order shall apply to all such contracts for which bids are hereafter invited.

In order that we may preserve the nonpartisan character of the institution, the other Directors will be chosen after consultation with the leaders of both political parties on the completion of the legislation.

It is expressly understood and agreed that the aforesaid wages shall be paid unconditionally in full not less often than once a week and in lawful money of the United States, to the full amount accrued to each individual at time of payment…

It is expressly understood and agreed that for the purpose of said act every person, while performing work of a laborer or mechanic on the public work covered by this contract, is to be regarded as employed as a laborer or mechanic by the…

I announce General Dawes' name at this time because of the required change in plans as to the Chairmanship of the delegation to the Arms Conference.

It is gratifying to state that he has accepted.

Secretary Stimson has undertaken the chairmanship of the delegation to the Arms Conference at Geneva.

Mr. Eugene Meyer, Governor of the Federal Reserve Board, will also be Chairman of the Board of the Reconstruction Corporation.

I have requested General [Charles G.] Dawes to accept the position of President of the new Reconstruction Corporation.