Statement on Meetings With the House Select Committee on economy.

THE PRESIDENT said:

"The joint conference of the administrative officials and the Economy Committee of the House on Saturday resulted in most encouraging progress.

"Any program of legislation for fundamental changes in the laws affecting reduction of Government expenditure involves a very large amount of detailed research and detailed consideration. I have felt that we would make most distinct progress by continuing these conferences, and I have asked the Economy Committee to meet with me again tomorrow.

"The businesslike and effective way to handle the whole question of reduction of governmental expenditures where it requires legislative action as distinguished from action by appropriation committees is to work out a definite national economy bill which can be presented to Congress and to the country as a completed whole. Obviously, it requires effort, but I do not believe it will consume a large amount of time.

"The development of such a program requires the closest cooperation between the executive and the legislative branches of the Government. It is most desirable that such a program shall be presented on an entirely nonpartisan basis on which we all take our measure of responsibility."