Evening star., 1924-12-02
Message Voices
Note Of Hope
for Year.
MOlt4. ECONOMY
PLEA REPEATED
Saving Of @7.SS4,4$9
This Year Revealed
by President.


Sounding note OF hope for
future tax reduction. the President
III his budget message to Congress
today. pointed out that present esti-
mates indicate a surplus of revenues
over expenditures for the present
fiscal year amounting TO S67 ,SS4,4S
and a surplus for the fiscal year
1926 OF S575.7437l+
The President. however. advised
against further tax reduction unit
definite results from the present taH
law are known. Recalling his recon-
mcndation a year go that taxes be
reduced he said that the estimated
surplus for the fiscal year 1924 had
proved to be Sl75I27, 900 in exces:
at the estimate made last Decem-
bcr.
The President renewed his pledge
Of economy in Government eXpendl-
lures aud strongly urged Congress
10 continue to eConomize i'll its ap-
{ preparations.
Aid to States Criticized.
Criticzing pa;ernalsm. as practiced
hy the Federal Government. President
Coolidge pointed out that the esti-
mates for Federal aid To the States
are in excess of sl09, 100000. Char
:-"terizing these appropriations as
Subsidies" the President said the
broadening Of this field of activity
Is detrimental both to Federal and
State Governments.
The estimates for national defense,
including the strictly military items
FOR the Army and Navy, the President
said are s29.000.000 less than the
amount available this fiscal year.
This reduction is made in accord
&nce with my belief that we can have
adequate national defense with
more modest outlay of the taxpayers
money. said the President. He de-
,.lared his belief however, In ade-
ouate preparedness. and called atten-
fion to the fact that national defense
in the United States. aside from the
training OF personnel, is Largely an
Industrial problem"
Airplanc Needs Stressed.
The President stressed particularly
the need for development of the air
ulane industry in this country and
showed that the Government proposed
to expend many millions of dollars in
the next fiscal year for the purchase
of planes and supplies for the AIT
Service.
His recommendation that the Gov
eminent expend $50,O00.00O for the
construction of needed Government I
buildings in the District of Columbia
was strongly renewed by the Presi-
dent. He advocated the passage oil
the bill for this purpose introduced al
the last session of Congress.
The text of the budget message
follows:
Larger Receipts in 1926.
- transmit herewith the budget OF
Tho United States for the fiscal year
ending June 90, 1926. The receipts
and expenditures shown in detail in
Tho budget are summarized III the
following statement:
Total receipts, estimated, 1926,
x3.641.295.o92; estimated, 1929, sS,ool,-
o6s. .297: actual, 1924, s4,012.O44,701.
Total expenditures. estimated, 1875
tincluding reduction of the puollc
debt, required by the law to be made
from ordinary receiptso. SS,zo .,'o Sdc =
SIS; estimated, 1925, s3,534,0s3.S
actual. 1924, s3.506.677,7 7,7l5.34. Excess
Of receipts, estimated, 1926. s373,743,-
7l4: estimated. 1925. s67.SS4,4S9; ac-
tual. 1924, so05,366,9S6.3l.
Favored Tax Reduction.
In transmitting to Congress De-
cember 5, 1923, the budget for the
| fiscal year ending June so. 1929, ]
recommended that taxes be reduced.
This recommendation was warranted
hv the statement of our finances as
presented to Congress in that budget.
1t was there estimated that under the
tax laws then in force the surplus OF
receipts over expenditures would be
s329, ,639,624 for the fiscal year 1924,
and sS956Sl.634 for the fiscal year
1925. Taxes have been reduced. The
benefits to the people of this reduc-
ton went back to the commencement
OF the calendar year January !, 1928.
The confidence Of the Chief Exec
utive and of the Congress that our
revenues could be safely reduced has
been fully justified. The fiscal year
which ended June so. 1924. was closed
with a surplus of receipts over ex-
pcnitures of s505, 5,S66.OOo. This was
sI75.727. 900 in excess If the estimate
made on December 2, 1929. Increase
Of SI17361.00o in receipts and de-
crease of S5S. 100000 in expenditures
produced this unexpected additional
surplus of s175,727.000.
I'VE have now completed five
months of the current fiscal year
which ends June 30, 1925. This
affords an index of the proba BILE re-
duction in our revenues under the
current tax law. 1t also affords an
index of the limits within which our
expenditures can be kept under the
continuing policy of economy. A
revision OF the estimate of receipts
and expenditures for the fiscal year
ending June so, 1925. indicates today
that the receipts will be $3,601.96S.-
297 and the expenditures s3.5S4.0S3,-
sos. This forecasts a surplus of re-
ceipts over expenditures for the cur
rent fiscal year of s67,Ss4,4S9.
Would Increase Surplus.
This estimate is most significant.
On the one hand, we anticipate re-
ceiving this year s400.000,000 less
revenue than we had last year. due
principally to the reduction in taxes.
On the other hand, we must provide
S114.oo0.000 for the extraordinary in
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