The President's News Conference

EMERGENCY ADJUSTED COMPENSATION BILL

THE PRESIDENT. I will be ready to act on the bonus bill about the middle of next week.

PUBLIC WORKS AND EMPLOYMENT

I have just had a survey made of the various departments as to the progress of the construction program, and I find that whereas we had approximately 150,000 men directly and indirectly employed in construction activities of one kind or another prior to the depression, with the contracts now let we should have a full force of 450,000 within the next 30 days. That is both direct and indirect employment. It is a little bit less than that now, but we take it on the basis of fulfilling the complement of contracts let.

There is one phase of the present appropriation bills that are before Congress that is of a good deal of importance. In all of this year's supply bills, that is for the fiscal year 1932, there is with a very few exceptions a provision making all of the construction appropriations immediately available. And of the total appropriations amounting to over $700 million in the 1932 budget, over $500 million would be immediately available--not that it would all be spent at once, but it would enable us to still further expedite our program if we can have those bills completed.

RESIGNATION OF WALTER E. HOPE

I have with regret accepted the resignation of Mr. Walter Hope as Assistant Secretary of the Treasury. He has been here for a matter of about 18 months in charge of the Bureau of Internal Revenue and the Bureau of Engraving, et cetera. He has found it is necessary to return to New York to practice law and becomes one of the principal partners in one of the leading firms. It is always a loss to lose men of such character and distinction from the Government service. I am in hopes we can get him back sometime.

That is all I have today.