I have signed the act authorizing the foreign debt postponement for one year.

No part of the debt owing to us has been cancelled or reduced; the postponed amounts are repayable over a period of about 10 years with interest at 4 percent.

We cannot suspend the functioning of the Federal Government at such a time.

While I see little objection to the day following Christmas in order that Federal employees may have the opportunity of joining their families out of town, I do not feel that we should extend the holiday at New Year's.

While I see little objection to the day following Christmas in order that Federal employees may have an opportunity to join their families out of town, I do not feel that we should extend the holidays at New Year's.

General [Charles G.] Dawes will head the disarmament delegation.

I have received requests from Federal employees in the District that they should be given two periods of holidays so as to cover the Saturday following Christmas Day, and from New Year's Day until January 4.

Leaders of both Houses have assured me that Congress will devote itself to the economic emergency program which I have proposed for the amelioration of agricultural, unemployment, and credit situations.

I am transmitting herewith and I commend to the favorable consideration of the Congress a report on the subject from the Secretary of State in which he requests that authorization be made for an appropriation to defray the expenses of…

I spoke of the invitation which this Government has accepted to participate in the General Disarmament Conference which is to meet at Geneva on February 2, 1932.

It is my privilege to convey to you at this holiday season the nation's tribute of remembrance and gratitude for your service in defense of our country.

I send you renewed assurance of the nation's gratitude and devotion to your needs.