03/17/1924
https://www.presidency.ucsb.edu...
"We have just had an experience in building $3,500,000,000 worth of ships on which we lost over $3,000,000,000."
"In accordance with custom, I would rather you didn't publish the date of my going."
"I am not in favor of the United States Government embarking on another program of building ships."
"Nearly all the ships we are operating are operating at a loss."