Excerpts of the President's News Conference
I do not know just what budget estimates will be made for beginning work on the additional cruisers or for work that is contemplated on our battleships. My general directions to the Bureau of the Budget were to investigate the needs that arise on account of the passage of the legislation, which include a number of things, and to recommend appropriations that will put them into effect. I did not imagine that it would be thought best to lay down all of the eight cruisers during the present fiscal year—which is the one that ends June 30th—but whether or not all of the eight cruisers ought to be provided for sometime during the next fiscal year after this, I would not be in a position to state at the present time.
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/349084