The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1923-06-21
Nations Deficit Of Over
S8OO,OOO,OOO is Converted
Into Surplus.
HAS NO RED LEDGER
Reports Show Balance of Near
ly S2OO,OOO,OOO With Close
of Fiscal Year of Nation.
by Associated Press Leased Wire

(By Associated Press Leased Wire)
Washington, D. C.-The government
mas accomplished the task of living
within its income in the past twelve
months and has accumulated a surplus
Of $200,000,000 in addition, President
Harding asid today in a speech at
meeting Of department heads and bu-
reau and division chiefs constituting
the governments business organiza-
ton" Further reductions. he said.
would be made in expenditures in the
coming year.
The record, the president said, is the
more important since the fiscal year
was inaugurated last July LIST with
deficit confronting. the treasury of
1923, 100000. To this "signal achieve
ment" Mr.. Harding declared, should be
added the fact that in addition to WHIP
ing out the deficit and accommodating
surplus the campaign for efficiency and
economy had resulted in actual expen-
ditures of the government being cut
$256, 100000 in the last twelve months
below the ordinary expenditures for
the year ending last June 30th.
Looks Back Two Years.
Mr.. Harding called attention to con-
ditions when the first meeting of the
"busness organization" was held two
years ago this morning and declared
that he regarded that meeting as an
"epoch in the administration of gov
eminent business" What had been
done since in the way of economy and
efficiency, the president said, was COM
mendable, but he warned the assembled
executives that they faced another year
when tasks as difficult and problems
as acute awaited solution if the gov
ernment's policy Of conducting affairs
economically and efficiently was to be
realized.
"In few days." the president said,
1--WE commence another fiscal year and
I feel confident that at it's close we
will be able to point to even greater
achievement in our campaign for re-
trenchment, economy and efficiency
than have been accomplished this cur
rent year. The appropriations for the
coming fiscal year amount in round
figures to $3,706,0 900 which is 1884,
100000 less than the appropriations for
the current fiscal year. AS compared
with the estimate presented to con-
gress, the appropriations for 1924 are
but $7,825,000 less than the amount
asked for in the budget and the esti
mates supplemental thereto.
Congress Ratifies Budget.
Action by congress on the estimates
for 1924 therefore amounted to prac-
teal ratification Of the budget and the
supplemental estimates. This in itself
shows how carefully, how painstakingly
were the estimates prepared and is
source of much qualification to the
chief executive. 1t is the first time in
many years that executive requests for
appropriations and legislative grant
have been in practical accord.
"a revised estimate just completed
indicates that the ordinary receipts for
1924 will amount in round figures to
So, 638, 100000 and that the expendi-
lures, including $507,000,000 for public
debt reduction, will total So, 668,000, 900.
This indicates deficit Of $30,000,000.
This deficit must not only be wiped out
but we must close the coming year
with substantial balance to our
credit.
"It is my earnest desire that the
expenditures. for the coming year, ex-
Guiding the $50O,0OO,OOO for debt reduc-
ton, be kept within $3,000,000,00O. /
expect you all to effect some savings
from your appropriations for the COM
ing fiscal year.
Sees More Retrenchment.
"The coming fiscal year will afford
US a real opportunity to demonstrate
our ability to carry on the policy by
economy in the conduct Of business
and retrenchment in expenditures Con-
gress has granted for that year funds
approximately in the amounts request
ed by the chief executive as being
necessary to be done with a limited
am cunt Of funds, as will be the case
this coming fiscal year, and at the same
time effect savings, affords an oppor-
tunity for really distinguished service.
l am sure that you all welcome this
opportunity and that you will enter
upon the coming year with the firm re-
solve to make new record in eff1cien-
cy and economy in the transaction of
the business Of government.
81 realize that this will call for fur
Their and greater. demands upon your
ability, a closer scrutiny of your ac-
tivities and the installation generally
of more efficient methods. Let us here
resolve that we will establish in fed
eral operation, not only for the com
ing but for succeeding years, an earn
est, friendly competition between the
nations multitudinous operating agen-
cies-competition for the honor of
achieving the maximum results with
the minimum of expenditure
Substantial Budget Reduction. 1
"Another task which will shortly
confront US is the preparation of the
budget for the fiscal year ending June
80, 1925. I contemplate substantial
reduction in the estimates Of appropri-
atoms for 1926 as compared with the
appropriations for 1924. In fact,
have expressed to the director of the
bur eau of the budget my desire that
the 1925 estimates, exclusive of the
amount required to meet the reduction
in, and the interest on, the public debt
and the amount required for the post
office department, will not be in excess
| of 1,700,000,OO0. To reach this amount
the estimates for 1925 must be $780,
100000 less than the appropriation for
1924. This will tax your best efforts,
but l have confidence in your ability
to find ways and means for lessening
| the amounts of vnur roouaS+r far