The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-10

The entries In the Government
ledger for the fiscal year read liko
this:
Ordinary receipts, S5.G2i932, 96i.
Ordinary disbursements, S5,ll5.O21,-
$50
Surplus of receipts over disburse-
msnts $500. O05.272.
Cash on hand, 1901, G5S, 455.
A surplus OF receipts over disbursc-
ments also Is shown in the grand
total entries on the Governments
books, The grand total receipts were
sl<, ass. o3i ,2s3, an excess Of -Si9l.s76,-
AIS over the grand total oisburse-
ments. The grand total entries pro-
vide a double check on the statement
that the Government lived completely
within its income for the year.
The grand total figures include
Implications, that is 20 say, money
which is handled twice. the FIRST time
when II IL borrowed on Treasury GER
tifcates and the second time when
the certificates are redeemed and
the cash IL represented as being paid
out or disbursed. Treasury certifi-
Gates, short term securities OF loans,
are redeemed out OF ordinary receipts.
U. s. IS GOING CONCERN.
The Government Of the United
States now is what business men call
q going concern. 1t lie solvent and
for the first time in years is spending
at a rate smaller than IL is taking
in money through tax payments.
Government economy OF this kind
means the Sterilization Of business
conditions, lower taxes and lower
cost OF living for every person in the
~ 80
Department officials.
On the basis shown above President
Harding. through the budget system
now being set up, Is planning 10 slash
another $1,000, 100000 from the Gov
ernment's estimates Of its expendi-
lures during the new fiscal year.
With a financial slate wiped clean
by the economies OF the fiscal wear
just ended. Gen. Charles C, Dawes,
director of the budget bureau, is 60
ing ahead with the plans of the Pres
ident.
General Dawes expects the budget
representative OF each department
within a few days to forward 10 him
an estimate of the minimum amount
needed to run tn department during
the year. In addition, the report is
expected to contain a statement OF
the total appropriations made BY
Congress for that department
The difference. the amount to be
saved will be credited TO a general
economy fund which no department.
will be allowed to draw upon with
out the express. personal approval
of President Harding.
President Harding. through the
budget system, thus Is assuming per-
sonal responsibility for every renny
| 80 49, apf
eminent department. The inference
contained in the plan Is that few
officials will prefer to run their bu-
reaus and departments on the sums
they estimated were necessary rather
than make a personal, dill ect appeal
to the President of the United States
for permission to spend more.
What departments may effect the
largest economies during the year is
indicated, according to budget bu-
reau officials. by the amounts they
spend during the first eleven months
OF the fiscal year just ended. these
expenditures are shown, department
by department, I'm an official state
ment of the Treasury Department.
War, during the peace year of 1921
JfscaD, cost the Government more
than S2,457, 000, 900, taking into con-
sideration disbursements of the War
and Navy departments and interest
on the national debt, most of which
was acquired during the great war.
INTEREST ON DEBT.
The official reports give the inter-
est on the debt as $3.50, 65S, 900. The
J war Department spent more than
s0s7 .5s4, 600 and the Navy Department
in excess OF s61O.OOO.OO0. These arc
the three chief expenditures for war,
or the preparation to prevent Il. Adj
vocates of disarmament include In