Excerpts of the President's News Conference

It is stated here that there are two radio bills pending, one that would establish a separate Commission in connection with the Department of Commerce, and that is pending in the House and has been passed, and the Interstate Commerce Committee of the Senate has reported a bill to establish a new bureau to have entire jurisdiction over the radio regulations. I haven't in mind the various provisions of either of these bills. I think it would be a wise policy to keep the supervision over radio or any other regulatory legislation under some of the present established departments. Otherwise, the setting up of an independent commission gives them entire jurisdiction without any control on the part of the Executive or anywhere else. That is the very essence, of course, of bureaucracy, an independent commission that is responsible to nobody and has powers to regulate and control the affairs of the people of the country. I think we ought to keep as far away from that as we can, wherever it is possible. Of course that isn't possible in relation to courts. It wouldn't be possible in relation to some of the regulation of interstate commerce, the supervision of railroads, and so on, which is of a highly technical and also judicial character. But I should very much prefer that any future regulatory legislation be put under some of the present departments. If it is commerce, why under the Commerce Department; if it has to do with labor, under the Department of Labor. So that, I should think that the House bill was more nearly in accord with that theory and would be more acceptable to the public. It certainly would be to me, for that reason.

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The budget is in this situation—the finances of the country. We shall come out at the end of this year with, nobody knows just how much, but there will be a comfortable margin. The figures for next year indicate a deficit at this time of $21,000,000, and any legislation that is passed that contemplates an expenditure of money in the next year's budget will have to take that into consideration. We can finance the requirements of this year all right. Continuing appropriations would be difficult to finance from the present outlook, on account of that situation. Of course if we should have a recession in business, so that our revenues should decrease, why the deficit would be increased.