Evening journal., 1922-11-02
u. 5. WILLLNE
within Income
Gen. Lords Report TO Show
Three Billion Budget
Balance
PRESIDENT HELPS
TO CUT EXPENSES

WASHINGTON, Nov. 2.--The
United states Government is at last
almost out Of the woods financially.
General Lord, director OF the budget,
has the estimates of the next fiscal
year ready to go to President Hard
ing next week for his approval and
transmission to Congress.
These figures have been pared
and slashed and revised until they
are well within the estimates Of the
Treasury Department for the reve-
nue. for the next fiscal year. Not
only that. but the predicted deficit
of s69S 900, 600 for this fiscal year
ending next June 80. will be much
reduced.
President Harding IS now In a po-
sition where he is assured the Gov
eminent of the United States will
be fully self-sustaining next fiscal
year and he is greatly rejoiced over
it. No additional taxation will be
necessary.
1t is now generally known that
for many months the President per-
sonally has devoted large amount
of time each week TO the director
of the budget and a detailed con-
sideratlon of the budget items. 10
is said by high officials to be fact
that the question of economy has oc-
cupied the mind Of the President
more fully and unreservedly than
any other official subject. He has
shown the keenest interest in CIV
ing close study to all phsses OF the
budget question.
The estimated receipts OF the
Government, as calculated by the
Treasury Department, for the next
fiscal year, beginning July /, 1928,
amount to 900. General
Lord obtained these figures from
the Treasury soop after he succeed
ed General Dawes. He took them
10 President Harding. who gave ex-
plicIt instructions that the estimates
for the coming fiscal year must be
kept within that figure. including !
such obligations rs would extend |
over this fiscal year into the next, |
and also allowing some margin for
appropriations by Congress outside
the estimates.
The exact total OF the estimates,
as they are now prepared and ready
for the Presidents approval is not
made public, but they are within the
figures already given as TO the rev.
enues which the Treasury expects
next fiscal year.
The preliminary estimates OF the
and independent bu-
reaus, forty-three ofsthem, were put
into the hands of General Lord
early In August In spite OF the
fact the President had said he would
not approve estimates which would
be above the revenues. It was found
these preliminary figures were about
5000. 600. 900 in excess OF the ex-
pected revenues, az reported by the
Treasury to General Lord.
frders were then given by the
director OF the budget to revise these
figures and pare them down so the
aggregate would come within the
anticipated income.
General Lord indicated how much
each department or bureau had to
slash and curtailment followed
Even the estimate for running the
White House. which had shown some
Increases for the coming year, was
tut along with the rest and President
sanctioned Il.
President Harding. in fact, has
been working hand in hand with
General Lord, as he did with his pre-
iecessor. General Dawes. and there
Is no doubt he viii approve the esti-
mates substantially as now prepared.
The appropriations committees OF
he House and Senate. It Is expected
will have a pleasant surprise when