The Republican journal., 1922-07-20
FINANCIAL HISTORY.

FINANCIAL HISTORY.
On the fourth of March, 1919, the Re-
nublicans came into full power in Con- |
aress. President Wilson had then two
wears to serve The outgoing Democratic !
Congress had passed several appropria-
ton bills for the payment of the war ex-
penditures, but the appropriation bills for
the payment of the, socalled, Ordinary
expenditures of the government" for the
fiscal year beginning June 80, 1919, were
not passed. There were several OF these
bills and there had been long committee
hearings 81 rs preparation of each bill
and .'ese ails we're reported to the
r w q appropriation bills orig
.as ached to each was report
agsfe rs passage.
lust criticism of the Democratic
congress can be made for the non-pas-
sage of these appropriation bills because
he legislative branch of the government
was soon to pass into the hands of the
Republicans, and it was fitting that they
and change the estimates made by the
Democrats. In about seven weeks after
the Senate and House became Republi-
c an, OF to be exact in statement, on May
10. 1919. President Wilson called an ex-
traordinary session of Congress, it being
necessary to consider these leftover ap-
pr ropriation bills before the following
June 30th, when the fiscal year opened.
during which these appropriations were
to be expended.
1t has been charged that the Republic
can Congress has been do nothing Con-
aress. This charge has been made with
such frequency and with such vocifera
ton that a great many people believe it
Now ct US see how Republican Con-
qress managed the first job which it had
to do. These leftover appropriation bills
were taken up and referred to the proper
commit ees for further consideration,
with the result that they were reduced
So4O COO, coo and passed. This was GER
tainly a good start on the road to econo-
my. which the Republicans have follow
ed ever since.
The last fiscal year for which the regu-
lar annual appro priatons were made by
Democratic Congress and expended by
Democratic administration was the fiscal
wear ending June 80, 1919. The total ex-
penditures for that fiscal year were S18,-
514, $40. 955.
For the next fiscal year, closing June
80, 1920, Republican Congress controll-
ed the amount of appropriations, but
Democratic administration made the ex-
penditures. The Federal expenditures
for that year were Sc, 4OS, ,343. BAL.
For the next fiscal year, closing June
80, 1921, the Republican Congress con-
trolled the appropriations, but for the
first eight months of that year the DEM
ocratic administration made the expen-
ditures For that fiscal year the Federal
expenditures were s5,ll5, 927, ,68e.
This brings US down to the fiscal year
which closed on June 80, 1922, when the
Republican Congress and Republican
administration were in control, the ap-
propriations were 81, 100. 0OO, 600 and the
expenditures were $780, 100000.
The budget for the fiscal year. ending
June 30th, of next year will carry appro-
priations for an expenditure of approxi-
m ately s.. 500. 900. 900. These figures in
rlude 1851, 900, 000 for interest on Liberty
bonds, s4s8, 900, 600 for the Veterans Bu-
reau, s337. OOO, 900 to redeem McAdoo's
promise to the railroads, $40, 00O, 600 for
National roads, S22, 600, 600 for Soldiers
Insurance, S74, 600 to be used in get
& ING out of the muddle made by the Ship
ming Board during the war and various
% ther items-all amounting, in round
numbers, o 81, zoo, 600, 600. Subtract this
from the budget for his year $S. 500, 600, :
OOO) and we have 81. 800, 100000 which
sum is fairly comparable with the ST.
ia. GOO. 600 expended b, the Democrats
in 1916, The Republicans have reduced
the ordinary expenditures of the govern
ment to a point very near the pre-war
level
The public iebt reached its peak (S26, :
500, 600, 600 in Au gust, 1919. On June 80
of this year it was s22, 96S, OOO. 900, a re-
.duction of little more than $S, 5OO, OOO, 0oo
ssince the Republica ms obtained control OF
the appropriations During the fiscal
wear Just closed the Republicans control-
led both the appropriations and the ex-
penditures and the public debt was re-
duced . little more than 81 900. .000. 900.
and in addition to this there was in this
wear a material reduction of taxation.
The Republican Congress has not been
<do-nothine Congress. 1t has been busy
.IsFv7yI Always SATISFIES.
KH9 Beeaase, ~ Rellevss