The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1910-02-24


dinner audiences he has met IN all bis
travels. The banquet was given by
the Newark board OF trade and more
than 500 members and guests attend
ed. Mr.. Taft took for his theme the
subject Of governmental economy and
said he shared the hope that the com
mission which is TO be appointed TO
revise the business methods Of the
big departments at Washington may
AFFECT a saving OF sl00,000.0o0 q year.
Newark, y. j., Feb. 23.-President
Taft, after acknowledging the pleasure
OF being afforded the opportunity 70
spenk TO the businessmen Of New Jer-
sey said:
when accepted the invitation TO
come here. I learned that | was 10
have the pleasure OF being a fellow
guest with my friend Senator Lodge.
and that he WAS 10 take up the ques-
ton of high prices. a question that
has occupied the attention OF all the
people and has invited the inyestlga-
tlon into It's cause by the congress
of the United States and by some of
the stat legislatures. For my part of
the evening, | should like 10 direct
your attention tot more prosy sub
Jec. TO the question OF government ex-
pcnscs and government revenues and
the possible economies and what ex.
penditures are essential at whatever
burden of taxation.
I'm the first place. 1t should be
said that we have been so far from
eXhaustlng the resources OF national
taxation and federal revenues have
been collected so easily and In such an
amount in the past TO adopt budget
system which Is pfacticed in every
other civilized country. BY budget
system ] mean a reference of propos-
ed expenditures and receipts TO some
one authority or tribunal. which, af-
ter determining what the revenues
will be must also determine what the
expenditures can be, and make bud
get without n deficit
This Years Deficit.
THE calculations of the secretary
of the treasury for the present year
showed that the deficit was likely TO
be $34,oO0,0O0 In respect to ordinary
receipts and expenditures I am glad
TO say that the operation of the new
productive of income that this deficit
for the current year is likely to be
considerably reduced In addition.
however. TO the ordinary deficit, we
have to add the Panama canal expen-
diture for immediate provision OF the
S3S.000.000 or. what was estimated TO
he total deficit OF 100000 is now
reduced considerably by the better
rates under the present tariff bill
by meeting the expenditures on
the Panama canal with the proceeds
of bond Issues, We have enough cash
in the treasury to meet the deficit In
our ordinary expenses for the current
year, and II we meet the expenditures
on the Panama canal for the follow.
ing year, we shall have O surplus OF
s35.000,000; or, II the revenue produc-
Ing capacity OF the new tariff keeps
UP TO it's present indications, this sur
plus may be increased to 100000 900,
On the other hand. II congress pro-
poses TO add to the expenditures OF
the government over those estimated
for new enterprises In the river and
harbor BILL and for the construction
OF the federal buildings under build
ing act, 1t will be easy TO consume
or exceed the entire surplus.
Recommends Bond System.
mot only Is such a principle Just
IN the case like the Panama canal.
but II seems to be appropriate to
adopt it with reference to other pro-
jects. refer to those definite pro-
Jects that have been agreed upon In
respect TO the Improvement OF our in
H. n l.
the expenditure of any money on any
project the wisdom OF which had not
been fully vindicated: but having de-
termined to put through the improve
ment, 1t ought not to be done by Ats
and starts. but II ought to be done as
one job.
Financial Condition.
ITO return to the state OF finances,
| repeat that the surplus for the year
ending June 30. 1911. and which we
are now making provision in this
congress by appropriation will be
about s35.oo0.oO0 II the estimates
made by the departments and trans.
mltted by the secretary of the treas
ury to congress are not exceeded. and
II the revenue from the tariff bill
equals that which the secretary OF the
treasury has estimated II as likely
TO be. This surplus is also upon the
supposition that the s3S S.000,0 neces-
sary annually In the construction OF
the Panama canal Will be met by
bonds,
I'm view OF the threatened shortage
for the year ending June 80, 1911, I
directed the heads OF the departments
In making their estimates TO cut them
TO the quick and TO avail themselves
of every possible economy and reduc-
ton The result was that the total
of the estimates forwarded by the sec
retary of the treasury was $40 sis, 900
less than the total OF the approprla-
tions for the previous year ending
June 30, 1910 A river and harbor
bill has now been introduced and has
passed the house, which appropriates
nearly S4O,0OO,O0O
Now ] would like for a moment to
go into tho question OF what II was
that We cut down In our estimates
for the coming year in the depart
ments.
Reducing Expenses.
The reduction in the estimate OF
the war department below the appro-
priations OF last year amounted to
S10.000.000. The reduction In the es-
Innate of the navy department for
the expense of the year ending June
so. 1911, also amounted TO Sl0JO0.000.
The reduction in the interior depart
ment of estimated expenses for 15ll
below the appropriations for 1910
amounted 10 sS,OO0.O00 Tho rcduc-
,{on IN A. .-.oourv and I'm tho Dnst-