Statement About Balancing the Budget.

THE PRESIDENT said:

"The issue before the country is the reestablishment of confidence and speed toward recovery by ending these delays in balancing the budget through immediate passage of revenue measures and reduction of Government expenditures. It is not a partisan issue. This was one of the most important steps of the nonpartisan program for restoring stability proposed by me and patriotically accepted by the leaders of both political parties last December. Effective programs, projects, estimates, and possibilities for both economy and revenue have been presented and are known in every detail.

"This is not a controversy between the President and Congress or its Members. It is an issue of the people against delays and destructive legislation which impair the credit of the United States. It is also an issue between the people and the locust swarm of lobbyists who haunt the Halls of Congress seeking selfish privilege for special groups and sections of the country, misleading Members as to the real views of the people by showers of propaganda.

"What is urgently required is immediate action upon and conclusion of these questions. This is a serious hour which demands that all elements of the Government and the people rise with stern courage above partisanship to meet the needs of our national life."