The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1924-12-04
President Coolidge Points
to Surplus of Revenue
Over Expenditures.
LEADS TO MORE SAVING
By DALE VAN EVERY

/ Z
to permit another cut in federal tax
es.
81 am for economy" the president
declared. eff we continue the cam
paign for economy, we will pave the
way for further reduction in taxes"
Mr.. Coolidge, however, proposed that
consideration of further tax reduction
legislation be deferred until the eff
feet of the present revenue law has
become more apparent
The budget of governmental expen-
ditures for the fiscal year ending
June 80, 1926, transmitted by the pres
ident, totalled $3,267 ,551 1878, de-
crease Of $266,532,430 below estimates
for the current fiscal year. Receipts
were estimated at 1854 ,295,092, an
increase of $39,326,795 which, with the
$67, 1874, 489 surplus estimated at the
end of the current fiscal year, would
bring the unusually large surplus fore
seen by Mr.. Coolidge 10 months hence.
"For those things which we are now
required to do we are fast reducing
our expenditures to minimum con-
sistent with efficient service" said the
/
timated surplus of $67,O00,00O for the
current fiscal year and 1878 100000
for the next fiscal year.
For Economy.
"Shall we embark upon new projects
involving expenditures which will. pre-
vent the accumulation Of these expect
ed SURPRISES, or shall we continue the
campaign for economy? / am for
economy.
"If we continue the campaign for
economy we will pave the way for
further reduction in taxes. This re-
duction cannot be- effected immediate
| ly. Before it is undertaken we should
know more definitely by actual opera
tion what our revenues will be under
our present tax law. But the knowl-
edge of our revenue under the existing
law will avail US nothing if we en-
bark upon any new large expenditure
program"
Mr.. Coolidge pointed out that the
actual treasury surplus at the end of
the last fiscal year was $175,727, 900
higher than treasury officials had es-
timated and he advanced the hope that
future SURPRISES might exceed even the
estimates he was presenting to con-
gress.
''The confidence of the chief exc
cutive and the congress that our rev.
enues could be safely reduced has been
fully justified" said the president.
"The fiscal year, which ended June 80,
1924, was closed with a surplus of
receipts over expenditures of $685.
366 900.
eve have now completed five months
of the current fiscal year which ends
June 80, 1925. This affords an index
of the probable reduction in our rev.
enues under the current tax law. 1t
also affords an index of the limits
within our expenditures can be kept
under the continuing policy of econ
omy. A revision of the estimate of
receipts and expenditures for the fis-
cal year ending June 80, 1925, indi-
Gates today that the receipts will be
SO ,601 $685. and the expenditures 49,
534 ,083,S08.
Marks Large Surplus.
"This forecasts surplus of receipts
over expenditures for the current fis-
cal year of $67,S84,489. This estimate
/ is most significant. On the one hand,
| we anticipate receiving 100000 900
less revenue than we had last year, due
principally to the reduction in taxes.
On the other hand, we must provide
STA 100000 for the extraordinary in
crease in expenditures made necessary
by the World war adjusted compensa-
tion act. Yet we are confident that the
year will be closed with surplus of
more than $67,000,000. Our aim should
be not only to conserve this prospec-
tive surplus but to add to It,"
The $266, ,430 decrease in the 1926
budget under the 1925 budget was
made up of decreased expenditures in
many governmental activities which
were in part counterbalanced by in
creases in others.
Among major governmental agen-
cies for which decreased expenditures
were recommended were: Shipping
board, emergency feet corporation, the
veterans bureau, interest on the public
debt, and the departments of com
merce, interior, labor, navy, state,
treasury and war.
Among other agencies for which in
creased expenditures were reported
were: Government printing, federal
board for vocational education, fed
eral power commission, interstate COM
merce commission, tariff commss
the District of Columbia, and the de-
partments of agriculture, justice and
the postoffice.
| The budget estimates for national
defense including funds necessary for
the military activities of the war and
navy departments, were a decrease Of
$29, 100000
For Preparedness.
''This reduction is made III accord
ance with my belief that we can have
adequate national defence with more
modern outlay of the taxpayers
money" Mr.. Coolidge said. Further
study may point the way to additional
reduction without weakening our ma
tional defence, but rather perfecting
it. This nation is 1T peace with the
world. We no longer have interna-
tional competition in naval construc-
tion of major units. We are concern
ed primarily with maintaining ade-
quate preparedness. We should have
adequate preparedness in 1925 within
the limits of the amount recommend
ed"
The President indicated again his
.rrourinp canviefinn that tho bas fa,.