New Britain herald., 1924-12-02
Coolidge Explains
 Details Of Budget

Washington, Dec. 2.-President Coolidge informed congress today that present estimates point to a surplus of revenues over expendi- lures of s67,SS4,469 for the present fiscal year and of $$7S,74S,714 for the fiscal year 1928, but he advised against any further tax reduction until definite results from the pres- ent tax law are known,
 If we continue the campaign for economy, we will pave the way for further reduction in taxes" the president said in a special message submitting the annual budget This reduction cannot be effected imme- diately. Before it is undertaken, we should know more definitely by &C., tual operations what our revenues will be under our present tax law. But the knowledge of our revenue under the existing law will avail us nothing If we embark on any new large expenditure program"
 The president recalled his recom- mendation for a reduction in taxes and said that thus far in this fiscal year, previous calculations of the re- suits had been borne out. He de- clared a revision of the estimates for 1925 showed that receipts for the current year should approximate S3,- 6Q1,968,297 while the expenditures should not exceed s3,534,083,S08, and compared these with the esti- mates for the next fiscal year, trans mitted in the budget showing prob able receipts Of S3,641,295,092 ana a probable cash disbursement by the treasury of $3,267,551,378 which will include some fynds appropriated, but not all expended, in the current year.
 Analyses Estimates
 Tn analysing the estimates sub mitted the president said;
 For the national defense the es- timates amount to $549,ooo,Qo0, which Is S29.ooo,ooo less than the amount available this current fiscal year. These figures do not include military items q. the war and navy departments. This reduction is made in accordance with my belief that we can have adequate national defcnse with a more modest outlay Of the taXpayars' money Further study may point the way to addi- tional reduction without weakening our national a 'ens5, but rather per fccting it T'is nation is at peace With the var3 We no longer have in,efn4,lo,4. competition in naval cons,ruefluu of major units. We are conrcr,4l primarily with malntain- Ing adequate preparedness. We shoulI have adequate preparedness lr t>ca within the limits of the amount recommended
 National Defense
 Aside from the important factor os training personnel our natlona! d.1rnsc IS largely an industrial prob 'cm. Today tho outstanding w,ak- less in the industrial situation a~ lt affects national defense Is tho lrat'- ouacy of facilities to supply a1r St w. ice needs. The airplane industry Iii this country at the present um' Is dependent almost entirely uToN r' -- trnment business. To stro"c,hto '.'s industry is 10 strengthen or raHo. al defense. For the air sert'o' "' the army and navy, and th. nI' Ef' service, the estimates. lneNd1- ''..- tract authorizations, dmoa' tn >'>,- g45,noo. This c0NtsuI a.. o0 "N- penditure with the lrtss,rl.~ o' Sl>.- 2S7,oo0 for the pro,'t m.n' of air. planes. engines and acc,>sar'ee. The rcmaining $c0.65S,l0' Is 'or WaInte- nance, operation, ,Np'I mrnta'ion tract authorizations amnant to $">,- 94S.00O, howe,,r 5u"s not include all that will be ay#jHahIe ror thls service in 1926. Am.u9ts crntrlbu- ting to the air service Crrled in oth- CT estimates. ar1 uSar', war supplies will make a total availability con ser,atiyeiv estimated al $G5,"u"."no.
 The amour. renlsstei for na-
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