Evening star., 1927-12-07
Federal Building Projects.

The budget carries requests for ap
nronriations totaling $l3,0O0,OO0 Tor
the Federal public buildings program
on proiects at limits of cost aggregat'
ing S53.577.OO This is in additlon
to concentrations amounting to SS,l5l,- :
600 submitted for inclusion In the nrsI
deficiency appropriation bill, on whlch
hearings have just closed before the
House appropriations committee. Inls
is with the view to eXpedltlng the
construction program authorized Dy
the public buildings act of May 20
1925. In his budget message tne
President SAYS that these amounts
together with appropriations airea1y
available, Twill provide ample tunos
for expenditure within the yearly
limit of $25, 100000 fixed in the act.
Reduction in the size Of paper cur
rency will "serve the pubic conVen'
ience. will create substantial savings
in expense of manufacture ana VIII
insure that existing manufacturing
facilities will meet increased dena allu
for many years to come President
Coolidge tells Congress. He reminds
them that during the past year an
exhaustive study involving the ce.
signs of the paper currency issues OF
the United States has been COM
pleted and definite conclusions have
heen reached. New designs are being
prepared which will eliminate the ex-
listing confusion, and the size Will De
reduced about one-third," he said.
For many years there has been a
constantly growing demand for in
creased supplies of paper currency.
Many factors have entered into the
situation, among them being the
growth Of the country in population
and wealth. and the more extended
use of paper instead of coin. during
the past decade the paper currency
outstanding has increased from $780,
500 900 pieces, in amount exceeding
SAFE, 900 900, to 865 900 pieces, IN
amount approXimating $5,715 100000.
In order to meet the currency require
ments, the Bureau of Engra wing and
Printing delivered 514,68S, 900 pieces
during 1917 and 992.339, 900 pieces
during 1927. Constantly increasing
appropriations have been required and
II was apparent should the increase
continue it would be necessary to pro-
vide additional production facilities.
Both of these considerations have
been effectively met by the action
taken"
The Presidents budget message
emphasizes that a saving of about
SIS 900, 900 in annual interest has been
made by refunding and payments on
the national debt for the calendar
year 1927.
1.-THE retirement and refunding of
our second Liberty loan," he said,
has aided materially in lessening our
interest charges. On February %.
1927, there were outstanding $3,104,-
520,O50 second Liberty loan bonds,
practically all of which bore interest
at the. rate of Az per cent. From
February 2S. 1927, to November IL.
1927, bonds to the value Of $575 5,000,-
900 were retired, with funds available
for debt reduction. The remainder,
approximately g., 500, ,0OO, 900, are being
refunded into securities bearing inter
est at the rate of 3h per cent and
under. The savings in annual inter-
est by the debt reduction effected by
retirement Of these bonds amounts to
over $24,000,000 and the annual saw
ing effected by the refunding opera
tions will amount to more than $21,-
000, 900. making a total annual saving
in interest of more than $45 10000
The summary of recommended ap
preparations under the heading of va
.rious units of the Government for the
fiscal year 1929 is as follows: