Daily Kennebec journal., 1925-03-13

tndt III tndt S5,O62,2I7,407 is an i'm
portant item of s120,00O,OO0 required
for payments under the World War
Adjusted Compensation Act. With
that out of the picture our So 200, ,000.-
600 would have been attained this
year in walk. AS it is, we must
save some way, somehow, this year
$62,O00,000 to carry out the Presi-
dents request.
Now to accomplish that we have
organized in Washington a 1.-TWO per
cent Campaign" If all the Govern
ment agencies will modify their oper-
ating programs this year by two per-
cent. we will eliminate that $62, 000,-
900 that stands between US and VIC
tory, and we are looking here, there
and everywhere to see what can be
done to prevail upon the people in
the Federal Service, in the inter-
est of this drive for retrench-
ment to get our expenditures
within three billion dollars. 1t means
| sacrifice but there is no real economy
without sacrifice. 1 have a meeting
of the Federal Representatives who
are located in Augusta. this after
noon at 2:30 o'clock. to consider with
them how they can help us in our
effort for retrenchment. ] have a
telegram here in which the Navy
| Department states that in this cam
paiGn they will guarantee to reduce
their expenditure by $6.600,000 with
the prospect of $2,000,000 further re-
duction. That is more than their
two per cent. l have another tele-
gram-the first that / received
from the Postmaster of a little town
down in South Carolina, which says:
Count me in Your two per cent
| n ION - q y.
flung spending agencies the world
over we are getting returns that they
| Will help US out in this campaign.
Now, how about our national debt i?
This is your business. / am one of
the hired help coming here to give
you something CT an accounting of
my stewardship, and this is the
greatest business with which you are
connected, the business of the Unit
ed States. AS YOU know precious lit
tie about it. The gross public debt
reached its peak on August 81, 1919,
and then it lowered to the extraordi-
nary height of s26, ,594.267,S7S.45. On
June 30th, last. at the end of three
budget years, 1t stood at S21,250,81
989.49-a reduction of $3,095, ,632, ,771.20
in the three budget years, and that,
too, in the face of tax reduction in
the acts Of November 3rd, 1921, and
June End. 1924, and in the face of
a fall in revenue. We have reduced
your public debt by more than three
billions CT dollars and that was ac-
complished by savings in eXpendi-
lures all along the line.
| While public expenditures. taxes
and Indebtedness of other governing
| agencies in this country have been
mounting higher and higher in the
most alarming way the Federal Gov
ernment, by reducing it's expendi-
lures, while reducing its taxes and
reducing its public debt. has set an
example that may be followed with
profit by the states and the counties
and the cities and towns of this
country; yes. and by business and
homes and individuals.
In l921-the last pre- Budget year
the Federal expenditure constituted
sixty per cent of the cost of govern
ment Of this country, while forty per
cent was chargeable to the lesser
governing agencies. Today we have
more than reversed those positions,
and the Federal Government. by re-
ducing expenditures, by introducing
better methods of doing business. by
preaching and practicing economy,
today makes an assessment of only
thirty three and a third per cent on
the public purse, While sixty-six and
two thirds per cent is charGeable
against the states and the counties
and the towns and the cities OF this
country.
| Now I am not stating this with
Eany thought of Dragging. Like the
rooster in the story, by only hope is
to be helpful. This rooster. wander
ing from his home pen. discovered
an ostrich egg. He had visions of
| nf crnln f,-yn ynS-
and unlimited scrambles. and With
infinite pains he rolled this gigantic
egg back to the home pen. and call
ing his faithful flock together and
pointing to the big egg he said,
This is not intended as any seflec-
tion upon you; it is merely to show
, YOU what can be done. daughter
and Applause.)
And in pointing to what the Fed
elal Government has been able to
accomplish along lines of retrench-
ment, no reflection Is intended upon
your State Government, or any other
State Government, or any Municipal
or Town Government. 1t is merely
10 show what a united, common eff =
fort in patriotic purpose can ac-
complish under the leadership of a
courageous Chief Executive.
Ii the program as carried in the
: 1926 budget is carried out without
change, we will close this year with
a balanced budget and a surplus of
67,8S4, ,4S9.00. Whatever modifica =
tions we are able to make in our
spending program under this three
billion dollar campaign, will. of
course, serve to increase that surplus
. Whatever additional expenditures
are thrown on to the program by re-
cent legislation of Congress. such as
the Postal Service Bill and the in
creased pay of members of Con-
gress, and such other extraordinary
additions or burdens upon the
Treasury. will serve to reduce that
amount.
President Coolidge stated to the
Federal Business Organization that
he expected this year.-or that our
aim this year-should be a surplus
OF not less than $1US,O00 10000.
make no rash promises but under
the drive we are having / am hop-
ing We will end the year with Il tur.
plus of more than S10S.00O. 10000
President Coolidge, in making that
, statement. had in mind, as we i'll
. the Federal Service should always
Lave in mind, the relief of the tax.
payer. Back of this continual cut
ting of Federal estimate, back of this
three million dollar campaign, back
of the demand for balanced nud-
ge'. back of the urgent, pressing de-
inand and appeal for drastic econ
on,y. is the unaltcrable intention OF
the President of the United states
to cut taxes down-not in the inter-
est Of business alone, but i'll the in
tCrest of the rank and file Of the
people of the country.
AS President said in his Inaugural.
1T is not to save money, It y to
nlnHln nf oil lno