Excerpts of the President's News Conference
I am very much disturbed to hear of the illness of President Wilson. I met him most pleasantly when he returned the first time from France and landed at Boston, where a public reception was tendered him. I made an address in which I extended the welcome of the Commonwealth, and I have always recalled with a good deal of feeling that when I was chosen Governor the second time, though he was very ill, he sent me a message of congratulation. So that learning of the probable nearness of his end, it is a matter that touches me deeply.
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Here is an inquiry about stopping the sale of Treasury Savings Certificates in the northwest. Those certificates were put out in order that people themselves might deal directly with the Government, for the purpose of encouraging thrift, and with the expectation that ultimately such action would bring deposits in the banks. Reports came that people were drawing their money out of perfectly good banks and investing in savings certificates in a way that threatened to jeopardize the banks and make it very inconvenient for them by taking their deposits. I understand that the Treasury Department, which was acting in this instance through the Post Office Department—the sales being made through the Post Office Department—thought it was better temporarily to discontinue sales in some localities.
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/349032