The New York herald., 1922-12-06
Guarding the National Purse.

Guarding the National Purse.
The national Governments budget
submitted to Coi-gress by President
HARDING and calliry for appropria-
tions for the next fiscal year of three
billions of dollars in round numbers
is not news. 1t has been so publicly
examined and frankly discussed
while in the making that many Of
its provisions were known almost to
the last dollar weeks before the
budget went to Congress.
THE New YORK HERALD already
has made editorial comment on
various items, with strong approval
of the thoroughgoing business meth
ods pursued and the splendid bust
ness results achieved by the Harding
Administration in getting value re-
ceived for the Treasury spendings
and in saving money for the Ameri-
can taxpayers. It remains now to
point out by reference to some, OF the
details how the comfortable eXpendi-
lures in the next fiscal year will be
down very close to the hard pan
basis OF the ante-war period.
Obviously the interest and the pay
ments for redemption Of principal OF
the Government debt cannot be much
shaved unless some mysterious way
Is discoverable to clear of or chop
down that debt. In the fiscal year Of
1924 these two items will call for
more than one and q quarter billions
of dollars-to be exact $1.295, ,OOO, 600.
Moreover. there are not many per-
sons in this country of American
ideals and feelings who will not hold
that the care of the sick and dis
abled veterans of the war also Is a
sacred and inescapable duty Of the
Government and the taxpayers. This
obligation alone will call for more
than $4,000, 900.
These two cardinal obligations,
observation-disclosures and debt--ac-
count for very nearly one and three
quarters billions OF dollars to be
spent next year. Pensions require
more than a quarter OF a billion or
dollars. and because the national de-
fense is no less obligatory than care
of the nations MANNED and helpless
soldiers, there must be considered In
that category army and navy expen-
ditures of considerably more than
half billion OF dollars.
The war heritages and the national
defense. then. will take up some two
and third billions OF dollars out OF
the three billions in round numbers
that will be spent next year. This is
all the more astounding perform
ance of jamming down the brakes on
controllable national spendings when
it is remembered that included in
the controllable list is $o0,000.O00 it
IS estimated will be sunk on the
Governments shipping business, with
Panama Canal and other possible
deficits also to be looked after.
When so heavy proportion OF the
nations appropriations must be ear
marked for war obligations and ma
tional defense President HARDING Is
not hopeful that further deep cuts
can be made in the expenditures In
the near future. And 1t does not
seem as If there could be material
reductionasof taxes until the public
debt is lowered enough to make a big
dent In the interest charges and In
the sinking fund allotments for the
redemption of remaining principal.
But that is all the more reason for
q continued national policy of watch
fully holding down expenses and saw
ing the American public's money
wherever IL can be wisely saved.
President HARDING has cleared the
path; let everybody stick to it.