Excerpts of the President's News Conference in Rapid City, South Dakota
I expect to go to Yellowstone Park. In accordance with custom, I would rather you didn't publish the date of my going. You can get from Mr. Sanders the time. You will have plenty of time to get ready to go, those of you that want to go. And I understand that the telephone people are making arrangements for the accommodation of the press out there. I don't know where I shall be located. I expect, most of the time, on the hoof.
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I have stated my position relative to our merchant marine several times in my messages to the Congress. I haven't changed my views on it. I am not in favor of the United States Government embarking on another program of building ships. We have just had an experience in building $3,500,000,000 worth of ships on which we lost over $3,000,000,000. We have a large number of ships on hand that are not in use. Nearly all the ships we are operating are operating at a loss. I think I might with a great deal of safety say that no ship the United States Government is operating is now operated at a profit if you take into account the capital outlay. What I desire especially to do is to get our merchant fleet into private operation, with sufficient guarantees to have it kept in operation.
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 in Rapid City, South Dakota Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/349205