Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-20

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provisions Of the cooperative market
Ing act passed at the last Congress.
It was indicated that q statement
is looked for, because this act repre-
sents Congress- entire contribution to
the solution OF the agricultural prob
lem and therefore is looked upon as
being OF more than ordinary inpor-
lance
President Coolidge is not alarmed
over the bank failures which have
been reported from Southern States.
The trouble appears to affect only
State banks. and, according to the
Presidents advices, is due to local con-
ditiOns
1t was made evident here today that
the administration has q new fiscal
policy. The Presidents spokesman
indicated that the Treasury intends.
as the principal of the national debt
is reduced, to apply the interest that
is saved to further debt reduction.
Sees Benefits in Plan.
1t was pointed out in this connec.
ton that $50, 900 900 more was paid
into the sinking fund last year than
during the preceding year. Also, as
the principal is cut down by payments
which are made from time to time
by the Treasury, it is the hope of the
President and Secretary Mellon to
have still more money available for
this purpose. The effect of this will
be to keep the fiscal requirements for
sinking fund charges and debt inter-
est at about the same level. This
process, 1t Is believed, viii obviate
some of the many demands that are
being made upon the President and
Congress for appropriations Of one
character or another. 1t was pointed
out that, of course, these are resisted
as seriously and as strongly as is
possible, but the tendency always
still more spending of the public
money.
While on this subject the Presi.
dents spokesman gave the CORE
spondents an analysis of the fiscal
statements submitted recently by the
chairmen OF the Senate and House
appropriations committees, which
showed that more than $270. 900. 900
Of the increase Of nearly half q mil.
lion dollars in ropriations for the
current fiscal year, Is accounted for
BY extraordinary expenditures; In the
latter classification the spokesman
enumerated the following items as
being mostly responsible for this in
crease:
Bonus Takes Big Sum.
Increased appropriations for the
Post ONCE Department made neces-
sary In part by the wage increases
which since 1914 aggregate SO per
cent; 500, 000, 900 due to bonus acts;
q total increase In the appropriations
<fsSer
to $l75, 0OO, 900: enlarged appropria-
lions Tor good roads amounting to
$26 ,0o0 900: public buildings. $14 GOO, \
LOCO: prohibition enforcement increase
/ of $1s .0OO. 900.
Refunds amounting I'll SIS, 900 900 on
cigars and automobile taxes; increased
pension to Civil and Spanish War vet
Eerans, SIS, 900 900: Arlington Memorial
Bridge, 81 500, 600. The Government
also il spending large sums In build
| Ing living quarters at military posts TO
replace the temporary structures built
during the war. ssis
However, the President views II n
| the light that the Government y
Ing greater each year, even more rap
| idiy than the natural developments 81
the Nation II ii his intention To keep
| the Post Once Depar tnent on prac-
| tically q self aiming basis The
cost OF public buildings viii increase
| next year, as It II the Intention Of
| CONGRESS to spend S26, 100000 next
year instead Of 1000, 900. which wa
the total for the present year. q
Senator Tess az Ohio Is d guest at
| White Pine Camp today and Will ~.
main until tomorrow. The President
| Indicated In advance Of the latter's
l1ftf,.