Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-12-04
COOLIDGE URGES
ECONOMY AS ROAD
To LOWER TAXES
President Defends $29, 000,-
900 Slash in National
Defense Fund

WASHINGTON, Dec. 1.-Presi-
dent Coolidge informed congress to-
day that present estimates point to
F.! a surplus of revenues over expendi-
lures of $67,8S4,4S9 for the present
fiscal year and Of $573,749,714 for
the fiscal year 1926, but he advised
against any further tax reduction
until definite results from the pres
ent tax law are known.
eff we continue the campaign for
economy, we will pave the way for
a further reduction in taxes the
| president said in special message
| submitting the annual budget" This
/ reduction cannot be effected imnledl-
ately. Before it is undertaken, we
should know more definitely by ac-
tual operations what our revenues
| will be under our present tax law.
But the knowledge Of our revenue
under the existing law will avail tls
nothing If we embark on any new
large expenditure program"
The president recalled his recon-.
mendation for reduction in taxes
and said that thus far in this fiscal
| year, previous calculations OF the
results had been borne out. He de-
clared a revision of the estimates
for 1925 showed that receipts for the
current year should approximate $3,-
601, 96S,297 while the expenditures
should not exceed So, 534, 083,S08, and
compared these with the estimates
for the next fiscal year. transmitted
in the budget, showing probable re-
ceipts Of 1851, ,092 and a prob.
able cash disbursement by the treas
ury of $3,267, 551, 1878 which will In.
clude some funds appropriated, but
not all expended, in the current year.
549,00O,000 National Defense
In Analysing the estimates SUBJ
mitted the president said:
For the national defense the esti.
mates amount to $549 900 600. which
is $29,000,000 less than the amount
available this current fiscal year.
/ These figures do not include no-nlili.
tary items of the war and navy de-.
partments. This reduction is made
we can have adequate national de-
Tense with more modest outlay
Of the taxpayers money. Further
| study may point the way to add.
tional reduction without weakening
our national defense, nut rather per-
4 fecting' it. This nation is at peace
| with the world. We no longer have
international competition in naval
construction of major units. We are
concerned primarily with maintain-
ing adequate preparedness in 1925
within the limits of the amount
recommended.
aside from the important factor
of training personnel our national
defense is largely an industrial prob
lem. Today the outstanding weak.
ness in the industrial situation as
| it affects national defense is the in
adequacy of facilities to supply air
service needs. The airplane indus
| try in this country at the present
time is dependent almost entirely
upon government business. To
strengthen this industry is TO
strengthen our national defense. For
| the air service of the army and
navy, and the air mail service, the
! estimates, including contract author
izations, amounts to S3S,945, 900. This
| contemplateS an expenditure with
| the industries Of $1S,287, 900 for the
| procurement Of airplanes, engines
and accessories. The remaining $20,-
! 65S,000 is for maintenance, operation,
experimentation and research. The
amount Of SIS, 1000, however, does
net include all that will be avail
able for this service in 1926 Amounts
! contributing to the air service car
| ried in other estimates, and usablc
war supplies, will make total avail
ability conservatively estimated at
! $65, 600, 900.
THE amount requested for ma
tional defense includes oils, 900
for the army and navy reserves, ma
| tional guard, citizens military
training camps, and other civilian
training activities.
Increase Of Navy Provided
There is also included in the ma
tional defense estimates $7,444,000
for increase of the navy. This will
provide for continuing work on the
fleet submarines under construction
and for beginning work on two of
the four remaining fleet submarines
authorized in the 1916 program.
With regard to the navy estimates,
legislation is now pending which
provides for additional vessels, in
Guiding gunboats for use on the
Yangtze river. Further estimates
for increase in the navy are de.
pendent upon the enactment of this
legislation. 1t will also be necsSsa rag
to request of congress legislation in
creasing the authorized cost of the
two airplane carriers II now under
construction. If this be granted 1t
will require funds or the next fis-
cal year not proved in the estimates
contained in this budget.
For rivers and harbors $56,237,-
500 is recommended. In this is in
Guided $40,000,000 for maintenance
and improvement Of existing river
and harbor works, $10,500,0 900 for
flood control on the Mississippi and
Sacramento rivers, and $5,437 500
for the operation and maintenance
OF canals and the removal Of wrecks
and other distractions. OF the $40,.
100000 for maintenance and inn
provement of rivers and harbors.
S21,973,915 is for new work and
$17,241 ,575 is for maintenance. This
will make possible material progress
on the most important projects APP
proved by congress.
at is estimated that s6,541.590'
will be needed to complete dam No.
2 at Muscle Shoals. OF this amount.
$3.501 200 will be required this year.
This will be covered by a supple
mental estimate for 1925. The BAL
ance-$S, 040, 390-i sprovided for in
these estimates.
Provision for Veterans Fund
"There is included in these est.
mates $50,000,00O to be set aside in
the adjusted service certificate
fund established under the World
war adjusted compensation act OF
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