"While T recognize," the President said, "many opportunities to improve Social and economic conditions through Federal Government action, Tam convinced that the success of our whole programme for the per manent security of the people demands that we adjust all expenditure: within the Hmits of the Budget Mr, Roosevelt defended the national defence expenditures which durin the current sca: year have been $37,000,000 below "the traditional annual aggregate of $1,000.000,000. He added that the armaments race wuts heading certain unnamed nations toward bankruptey, The United States, ye contended, was spending: far below the amounts of some Time to Avoid Strike
Text read from the printed page and cleaned; old type leaves the occasional error.