Excerpts of the President's News Conference in Superior, Wisconsin
I have no definite engagement to meet Mr. Hoover. I have no information of any kind or description as to whether he is coming here. I should assume, though, that if he was coming he would say something to me about it.
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The surplus for the fiscal year of $398,000,000 was just about what we had figured it would be. Sometimes some money comes in that hasn't been expected and sometimes there is some that has been expected and it doesn't come until after the 30th of June. But the surplus was secured, of course, by very careful management of expenditures and will enable us to retire about $900,000,000 of the indebtedness for the fiscal year which would mean a reduction in interest of some over $35,000,000. You can see how important that is, if you recall that that is about the amount we expect to appropriate yearly for the purpose of taking care of the flood relief in the Mississippi Valley.
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 Superior, Wisconsin Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/349258