Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-01

be si,100, 100000 more than IL now
stands, and the interest charges would
be some $45.0o0.0o0 greater next year
than We shall now have to pay,
Along with this reduction in expen-
ditures has gone to progressive reduc-
tion of the public debt with it's attend
ant relief from the burden of interest.
On juno 80. 1921, the public debt was
$23.976, 100000. In 1924 it had been
reduced more than $1,000, 100000 to
s2e, 1854. 100000 In 1898 1t had been re-
duced more than $500. 900. 900 TO S32,-
100000. In 1924 1t has been re-
duced again by more than $1,000, 0oe,-
600 and stands at an estimated amount
OF $21,254, 10000 which is a reduction
in three years of S2,722, 100000 and
means a saving Of interest of more
than $4,000, 600 each year.
This shows that the intensive cam.
paign which was commenced three
years ago has been waged unYeient-
ingly. In this campaign We have had
the active cooperation and support Of
the Congress. The three budgets pre-
scented by the chief executive to the
Congress have carried drastic, progress
sive reductions in their estimates for
funds. Congress has adhered to budget
procedure in passing upon these esti-
mates. The appropriations granted have
been in harmony with the financial pro-
gram Of the chief executive"
The President announced that he
would submit estimates of not more
than $4,000, 100000 for expenditures
in the fiscal year beginning July J..
1925. He fixed that figure as the
maximum and instructed the officers
under him to find O way to cut $S3,-
nm nm thAtR vaWM@MNt M@Htv>a n IN
which are OF a preliminary charac-
ter and call for appropriations Of
$3.0S3. 00O. 900.
If this cut 10 made. Mr.. Coolidge
said the surplus for the year covered
by those estimates would approxi-
mate sos, 100000 He added that
he had faith ins the ability of the
administrative heads to accomplish
the purpose.
I'VE are setting the example for
reduction in the cost of government
and for q return to ordinary peace
time conditions" he continued, with
emphasis. There can be no falter-
ing. Our duty Is plain. AS we have
progressed in the last three years.
so we must continue"
when we met six months ago."
Mr.. Coolidge said, II stated to you
tHA( TINS uHnt iOE eCOHOtly Hdu out
one purpose-that the benefits would
accrue to the whole people through
reduction In taxes. Taxes have now
been reduced. While our immediate
need is for tax reform. AZ dis
tinguished from tax reduction, we
must continue this campaign for
economy so as to make possible
further tax reduction.
I'VE owe this to the people Of our
nation. to the people who must pay
with their toll. The relief which
has recently been afforded must be
only the beginning. So in all your
efforts. in all your sacrifices. you
must bear in mind, that YOU are
making them for the people of our
country. There could be no nobier
cause or one showing higher patriot
ism. Bear in mind always that we
ars here as the servants of the peo-
pie and that only as we serve them
"This insistent demand for econ
omy and reduction In expenditures
necessarily requires increasing effi-
cheney of administration. II
there 10 any question a. to the au.
thority Of heads Of departments or
estimates to discontinue or reduce
any phase Of existing work It 10 my
desire that they report the matter
to me. The duty and the opportun-
ity today Of the governments adj
ministratior> In not to enter upon
new fields OF enterprise. On the
other hand it 10 their duty and OPP
portunity to carry On approved and