The President's News Conference
VETERANS' BONUS LEGISLATION
THE PRESIDENT. Informal polls of the House of Representatives have created an apprehension in the country that a further bonus bill of 2 billions or thereabouts for World War veterans may be passed.
I wish to state again that I am absolutely opposed to any such legislation. I made this position clear at the meeting of the American Legion in Detroit on September 21, and the Legion has consistently supported that position. I do not believe that any such legislation can become law. Such an action would undo every effort being made to reduce Government expenditures and balance the budget. The first duty of every citizen in the United States is to build up and sustain the credit of the Federal Government. Such an action as this would irreparably undermine it.
And that is all.
Note: President Hoover's two hundred and fortieth news conference was held in the White House at 12 noon on Tuesday, March 29, 1932.
On the same day, the White House issued a text of the President's statement on the bonus legislation for World War veterans (see Item 102).
Herbert Hoover, The President's News Conference Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/207523