Evening star., 1923-01-29
, Continued from First Page.)

from fdse.D
savings securities due January 1,
1923, which was not embraced in the
estimate made in July. ] am now ad-
vised that a revised estimate, just
completed. shows a further reduction
in the anticipated deficit for 1928 of
$181 100000, which indicates. as the
deficit of $92,900,000 for the current
fiscal year. This gratifying result is
due not only to reductions In the
program of expenditure, but also to
an increase in the anticipated total
or revenues and other receipts for the
year. The adherence to the policy of
economy and the effective co-ordina-
tion of routine BUSINESS were impor-
tant factors in reducing this estimated
deficit.
Deficit Problem.
What now confronts us is the over
coming of this estimated deficit of
$92,O0O,00O and, If possible, the clos
ing or this fiscal year with a balance
on the right side of the ledger. ]
must look to you, therefore, for con-
tlnulng efforts to control your ex-
Peinditures pen. Lures during the remainder of
can aid materially. 1 know that l
can rely upon you.
AT my last meeting with you I en-
phaSlZed the necessity of keeping the
estimates for the next fiscal year,
ending June so. 1924, within the re-
celpts 1or that year, which at that
time were estimated at s3,19S. 900, 900.
also stated that the probable re-
celpts for the next fiscal year would
not permit as liberal appropriations
as were provided for the current
year.
1T is a pleasure to state that the es-
inmates of appropriations submitted
TO Congress for the fiscal year 1924
are $l2O,000.00O less than the esti-
mated receipts for that year and
sise.ooo.Oo0 less than the appropria-
| tons for the current year. Whatever
pressure may have been brought to
bear on the executive departments OF
the government with reference TO
thelr estimates, there must have been
| IN the departments concerned a spirit
or sacrif1ce and cooperation to make
| this real achievement possible. Treas
| ury conditions. however, demanded
such cooperation and sacrifice. The
chief executive expected il, but never
| theless wishes to express his full ap-
probation OF it.
In view of the Importance of the
| subject and to guard against mis-
| apprehension as to the nature of the
| budget, l take occasion to refer to the
| fundamental principles which control
| Its preparation. Under the terms of
| the law the President is required to
Il II I.
He recommends IL to Congress upon
| his own responsibility as the head of
| the executive branch of the govern
| ment. The estimates of appropriations
| contained therein are his estimates,
| except those for the lePislatiye
budget law, recognizing the fact that
| the President could not personally
| attend TO all OF the details involved
IN the preparation Of the budget, gave
70 MIN an agency and designated il
| the bureau of budget. 1t did not
| CONFER upon this bureau any function
which ii could exercise independently
OF rules and regulations of the Presi-
oent. There cannot therefore be any
/ conflict of procedure or policy be-
| tween the President or the members
! OF his cabinet and the director Of the
| bureau of the budget. The budget as
transmitted to Congress embodies the
administrative policies which the
| PRESIDENT has decided to recommend
Co-Operation Encourarinr.
Very significant and ENCOURAGING is
| the cooperation and cola aboration
| between Congress and the executive
| in connection with estimates for an
propriations. 1t is the endeavor of the
| president to present to Congress calls
| FOR funds that are sufficient and nc
| more than sufficient. to carry out ap-
\ proved policies. The budget and ac.
| counting act places no Limitation
upon the power and right of Con-
\ gress to increase or decrease esti.
/ mates submitted. This is in accord
| with the spirit of our institutions and is
| as it should be. 1t is my hope and
| expectation that. as the budget pro-
| cedures develop, the estimates trans
| mitted to Congress will be so care
! fully prepared and will present sc
| accurate a picture of the real oper-
| atinE needs of the government as
| materially to Tighten the burden OF
| the appropriating committees. But
/ II is not expected or desired that Con-
| gress should relinquish any of its
prerogatives regarding public funds
| prerogatives SO wisely given to the
peoples representatives by the found
| ers of the government.
! am kept advised by the director OF
| the bureau of the budget of the con-
! structive work being done by the va.
/ rious co-ordinating agencies and area
| co-ordinators under the immediate
| leadership of the chief co-ordinator
l and of the value of the work being