Memorandum to Federal Departments and Agencies on Expenditures for Fiscal Year 1932.
[Released July 24, 1931. Dated July 19, 1931]
To all Departments of the Government and independent establishments:
The July 1 estimates of expenditures for the fiscal year 1932 furnished by the departments and establishments to the Bureau of the Budget indicate that in spite of all efforts for economy the expenditures as now contemplated by the departments and establishments will be in excess of those estimated as of June 1 and also in excess of those actually made during the fiscal year 1931.
In view of the fact that our receipts are falling off materially from the amount estimated at the time of the preparation of the Budget for 1932 and of the consequent large deficit indicated for the current fiscal year, I wish again to bring to your attention the seriousness of our financial situation and desire that you assure yourself that all those in your establishment are impressed with the urgent need for economies and postponements in view of this emergency. The situation is a serious one and demands that we all make the most earnest efforts to eliminate or postpone all such activities as may be so treated without serious detriment to the public welfare.
You have been requested to furnish to the Bureau of the Budget, for my information, not later than August 17, a statement of appropriations available for expenditure during the current and subsequent fiscal years with an indication of the amounts expected to be obligated therefrom and the contemplated ultimate savings.
Pending the compilation and analysis of this statement I wish to suggest that you refrain from actually obligating money available for expenditure during the current fiscal year except in those cases where such postponement or elimination will clearly be to the detriment of the public welfare.
Herbert Hoover, Memorandum to Federal Departments and Agencies on Expenditures for Fiscal Year 1932. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/211650