I have the honor to transmit herewith for the consideration of Congress an estimate of appropriation for the Treasury Department for $125,000,000, for the fiscal year 1932 and to remain available until expended, for subscriptions to…

Her life has been marked by steadfastness and courage.

I am transmitting this estimate of appropriation at this time so that funds may be available for the stock subscriptions authorized by the act at the earliest possible date.

Please convey to the Society of the Genesee, and to its guest of honor, my felicitations on its thirty-third annual dinner.

Miss Lillian D. Wald's untiring efforts in the amelioration of human suffering have rightly earned her the approbation of her fellow-citizens.

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;

Thus enable the banks to obtain capital for farmers at reasonable rates;

Above all bring relief and hope to many borrowers from the banks who have done their honest best but, because of circumstances beyond their control, have been unable temporarily to make the grade.

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

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