02/20/1925
https://www.presidency.ucsb.edu...
"And we have been able to meet these large increases by absorbing them through economies in other directions."
"I have said a great deal about tax reduction, of course, since I have been President, but this always has to be borne in mind—that tax reduction is to be secured only as the result of economy."
"So far as I know, the United States Government is neither favoring nor opposing any particular candidate for the office of President of Nicaragua."
"I am opposed to extravagance, rather than to tax reduction."