New Britain herald., 1924-07-01
ECONOMY AND MORE
 ECONOMY ORDERED
Coolidge Wants 10 Gut Govt. 1 Expenses 10 the Bone

Washington, July l, - President Coolidge served notice upon govern
 msnt heads who attendal last night'' seventh semiraRnual ha z confer enee at Continental Argdal hall that he proposed 10 protect the in' tegrity of his budget,
 "I sm for economy" declared Inc president, "After that l am for more economy"
 Demanding that government heads make a vigorous fight all along lhf ilua for still further reduction, he said that nc wants them to cut ss3,- 900. 1000 more out of federal oNpcndl- tures SO as 10 establish Il surplus Of lQS,00b,0n0 at inc end Of the fiscal year 1895, instead Of Inc estimated Ssa,0OO, ,000.
 Under inc budget system tho gnv- ornmCnt ended the fiscal year 1929 with surplus Of sat0,0O0.000 and about s50O, ,O01,O00 for the fiscal year ia2i. which closed last night.
 As a result nf the bonus law there Is now in prospect only q surplus Of s2a, ,GO0 for the fiscal year 1925, President Coolidge is not satisfied with thls and since tho bonus legislation will add approximately Sl32,000,00 to expenditures for the fiscal year 1925 inc president demands that ss3,000,- 900 be Topped off somewhere so as to revise the surplus upward at the end of the. new fiscal year to si0S.0OO,- G00.
 The presidents rigid demand for further economy was the outstanding feature Of his scmi-annual budget address. More than 2,000 members of the "business organization of the gov ornment' including General Lord. directo" Of the budget. and his staff, cabinet officers and all heads and sub heads Of every department and in- dependent office were present, Presi- dent Coolidge and General Lord were the only speakers.
 Debt Cut by si,t0O. 100000
 It had been the intention to broad cast the presidents speech by radio from Continental hall, where micro-
 
 night session of the Democratic con- vention at New York was given the right of way "on the ether" and in- terfered with this plan.
 The president stated that the fiscal year closed last night with a sur plus Of s49S, ,006.OO0. This, he said, was only approximate and the actual figure, which will undoubtedly be more than s50O,O0O,OOO, will not be available until the books of the treas- ury are finally balanced for the year. As a matter of fact. yesterdays bal ance sheet of the treasury shows surplus of s49o,223.225.S3 and cov- CTS operations only to June 27.
 Without the aid of the surplus at the end of the fiscal year, 1922, 1923 and 1924, the president stated, the public debt would be sf100,0 900 more than it now stands and the in- terest charges would be some s45,- 100000 greater than we shall now have to pay.
 The president also emphasized the fact that the public debts underwent a reduction in three years of S2,722,- 900, 900, which means saving Of in- terest of more than s220,0O0,000 a year.
 Realizing that the power of tax is the power to destroy" declared the president, "and that the power to take a certain amount of property or of income is only another way, of saying that for certain proportion of his time d citizen must work for his gov- ernmcnt, the authority to impose a tax on the people has been most care fully guarded"