Excerpts of the President's News Conference
The Secretary of War has not resigned. I don't expect he is going to resign, and I hope that for the sake of his peace of mind that his resignation will not be reported in the future oftener than once in two weeks. I don't want to unduly restrict the reporting, but I think that would be often enough.
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Senator Hale talked with me yesterday about the Navy and I have asked him to make an intensive study of the Navy to see if we are maintaining any useless activities in it, so that there might be a possibility of saving money to the taxpayers by discontinuing them. You will recall that last year we made an authorization for some new cruisers, submarines and so on to the extent of a great many million dollars. That work will have to begin in the near future. I would like to find a place in the Navy where we can make sufficient savings to go some way towards taking up this new work. I should be very glad to consult General Mitchell about any subject that he is familiar with on which he can be helpful. I have consulted him a number of times in the past and expect to in the future.
PRESS: Mr. President, do you recall about how much that outlay was?
PRESIDENT: I can't give the figures. I think there was an authorization for a number of new cruisers and they cost—I think a new cruiser costs fully as much as $11,000,000.
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PRESS: Mr. President, would you elaborate upon your policy of returning the Boxer indemnity, which was reported in the paper this morning.
PRESIDENT: That was provided for by the legislature in the last session and all I did was to issue an executive order carrying out the terms of the legislation.
PRESS: Don't you think it is going to be helpful at this juncture, if it comes about?
PRESIDENT: Well, yes, I think so. It is an exhibition, I don't want to boast about our own country too much, but I think it is an exhibition of good faith on the part of this country. Perhaps it would be more appropriate for someone else to say that, other than myself.
Source: "The Talkative President: The Off-the-Record Press Conferences of Calvin Coolidge". eds. Howard H. Quint & Robert H. Ferrell. The University Massachusetts Press. 1964.
Calvin Coolidge, Excerpts of the President's News Conference Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/349114