The evening world., 1913-02-26
President Sends Congress Re-
form Plan for Handling the
Nations Finances.
AIMS TO WIPE OUT DEBT
Suggests Sinking Fund Board
to Reduce Deficit and Fixed
Charges on Government.

WASHINGTON. Feb. ~. - President
Taft to-day sent to Congress his much
discussed budget" message. We rec
commended the adoption OF q bud got sys.
TEN Of relating proposed expenditures 20
expected revenues and declared that
Congress would be greatly benefited BY
having before II such a statement pre-.
vious to beginning the annual grind up
on appropriation bills. The United
States. the President wrote. was the
only great nation In the world which did
not use the budget system and In CON
sequence II may be said 70 be with
out plan or programmt"
Some Of the advantages Of the budget
eystem a. pointed out BY the President
were:
A means Of locating responsibility for
estimates In keeping with revenues.
A means OF allowing Congress TO Sc
how much gross Il will have TO spsnd
before II begins appropr.Atins for each
department or detail Of Government ma
eA,nsry.
Because Il would furnish Congress
and the public with ready reference N
reports And detailed records Of account.
Because II wos|d produce IN adequate
crsanisstion for assembling ana classi-
Tying information TO b used In telling
the country what has bssn dons and OF
ne oovsrnmsnt's future needs.
TO CANCEL NArloN'o oGOr
THNoUoh slNkiNo PvNo.
10 all in working with . veil DE-
Ansd purpose In many bureaus hithsr.
20 organised but directed under an In.
consistent and iii-dennsd programme.
To cancel the nations debt. through
. sinking fund. and 20 eliminate the
1sneit. which 10 slowly growing.
To carry out the budget plan to r..
1ues the dsdcit and the hxed charges
against the Government the President
proposed:
to consist Of the Chairman Of ire FL
nance Committee Of the Senate. the
Chairman Of the House ways and
Means Committee. the Attorney General
and the SECRETARY Of the Treasury.
With the Controller Of the Treasury
a. annual auditor OF the sinking fund
accouns. Legislation which would wipe
out the national debt IN twenty years
sfSSe July ]. is1<. Congress should set
asids a.. 900 annually for that pur-
pose. That would be el6. 900 900 a year
less than the present amount required
tyy law. That fund should be invested
= 3 per cent Government bonds and
= twenty years the Nieo. 100000 debt.
ehe President says. would he retired.
She aioptton Of . definite theory n
Oscoumended for future proposak for
internal improvements 10 thai such I'M
psVvsments would be In accord with =
we'll thought out plan. In that con.
nection the President suggested the
saving Of the rent paid IN Washington
for buildings used by the Government
through the construction OF new build
,ngs 10 cost about 500. Co., 900 10 b pald
Tor throux! period Of twenty years.
"Briefy stated" wrote the President,
my suggestion 10 that the Government
nrst plan for Its land purchases. bulls
inss and public works. then borrow
money TO acquire and TO construct them,
proportioning the cost over a period al
twenty years and making the bonds ~
sued TO meet the cost payable out Of an
adequate sinking fund"
WOULD REDUCE GALAXY ROLL
$780, 900 4 YEAR.
OF reduction OF the salary roll OF
the Government. amounting to about Vi, |
10000 annually. two-thirdr, the " esl-
dent declares. would be saved by adopt.
ing his scheme to classify what are
now Presidential appointments.
elimination OF waste In the distrhsi-
ton of ualbuc documents, rsd,,c,,o, nj