The New York herald., 1921-12-06
President, Though, Says Re-
ceipts and Expenditures
Will Be Balanced.
NAVY MONEY rs SHIFTED
Law Advised to Use Part Of
Receipts From Sales for
General Expenses.

WASHINGTON, Dec. 5. - Presiden,
Harding to-day presented to Congress
the nations budget for the fiscal year
1923-the first to be compiled--pre-
pared by Gen. Charles G. Dawes. Ir
submitting the estimates of the new
Director Of the Budget. the President
sent the following message with his
recommendations:
70 the Congress of the United States
submit herewith the budget Of
the United States for the fiscal
year ending June 80, 1923. 1t will
be noted that the estimated ortii-
dinary expenditures for 1922 show
a reduction of s1.51s.537, ,6s220.
compared with the actual ordinary
expenditures for 1921: and that
the estimated ordinary expendi-
lures for 1923 show a reduction Of
s447,704.239 under 1872. making
the estimated ordinary expendi-
lures under the budget for 1923
s1,961. .241.s21.2o less than the
actual ordinary expenditures for
1921.
Including transactions In the
principal of the public debt and
investments Of trust funds. the
total estimated expenditures for
1929 show a reduction under the
total actual expenditures for 1921
of s1,57o,1la32a.so. and the total
estimated expenditures for 1923
show a reduction OF $462,167,639
under the total estimated expen-
ditures for 1922, making a reduc-
ton in total expenditures In the
estimated budget for 1923, as COM
pared with the total actual ex-
penditures for 1921. of $2,o32 1885,
962.30.
It will also be noted that the
total estimated receipts for 1922
are in approximate balance with
the total estimated expenditures,
including reduction in the princi-
pal of the public debt. and that the
total estimated receipts for 1925
are within approximately $780,
100000 OF a balance with the total
estimated expenditures of that
year. Such a discrepancy is un-
avoidable, when authorizations of
expenditure are being enacted
during the process OF budget clos
ing, but ways are provided for
relatively easy adjustment with
out added taxation.
For the purpose OF providing q
portion of the funds necessary TO
balance the budget for 1929, in
which the estimated expenditures
exceed the estimated receipts by
the sum of approximately $780,
100000, I recommend the follow
ing legislation in connection with
the naval appropriation bill for
1923, which would result in the
eventual automatic release of
100000 900 now held In the naval
supply account of the Navy De-
partment:
Hereafter, until the naval sup
ply account shall have been re-
duced to maximum sum of $780,
100000 which shall not thereafter
be exceeded, one-haIf OF all reim-
bursements otherwise due to the
naval supply account, whether
from current issues or from sales,
shall be covered into the Treasury
"a miscellaneous receipts, Ind
only one-salf shall be credited to
the naval supply account.
with continued pressure for
economy in all departments and
the passage OF such legislation. the
balancing OF total receipts and
total expenditures for the fiscal
years 1922 and 1923 should be ac-
compllshcd.
/ also transmit herewith the re-
port OF the Director OF the Bureau
OF the Budget on the budget OF the
United States and the operations
of the Bureau Of the Budget.
The details OF the budget are
shown In the accompanying state
Continued on Page Two.