Evening star., 1928-06-12
TEXT OF GEN. LORDS ADDRESS
AT u. S. BUSINESS CONFERENCE
director of the Budget Traces History Of
Government Financing Since Close
of World War.

tory. But the winning of that fight die
! not end the war on waste or cause 1
halt III the struggle for greater efIlci
ency. We said:
From compromise and things hal
done
Keep us, with stern and stubborn
pride:
! And when at last the fight is won,
| Keep lis still unSatiSficd
| LOUIS UNTERAfEYER (Alt,).
And so. still unSatisficd.' we made
| attempt to reduce expenditure for the
current year to S3000000.O00 This
meant reduction of $85 100000 I'm the
program of expenditure of January
last. Cutting out expenditures due tC
new laws and changed conditions, we
find prospective saving of-not S35,-
100000. but $4,000. 900
You should all be familiar with that
ancient story of the boy, the apothe-
cary. and the prescription. The apothe-
cary compounded the prescription. He
gave 1t to the boy. The charge was
81. The boy gave the apothecary a
nickel, The nickel was all the money
the boy had. The boy left the drug
store. He took the prescription with
him. The apothecary took the nickel
He looked wistfully after the boy He
then dropped the nickel in the till, re-
marking philosophically:
Well I made cents anyhow
we will save $i5,0000 900 anyhow
To be frank about it, that SIS 1000. 900
is more than We had reason to expect
under conditions that developed. A
farmer was asked how his crops turned
out and he said
Well I didn't get quite so good a
yield as I expected, but didn't expect
/ would
we have been so favored with saw
ings in large amounts that we find our
selves discussing rather alphabetically a
saving of only $l5,000.o 600,
A New Objective.
1T is with regretful resignation to the
inevitable that admission is made of the
improbability of again getting down to
that $4,000. 100000 mark. And so ]
offer new objective: The snational
debt down to $4,000. 600, 900 in three
years 1t is an objective worthy OF
our best effort. Every. dollar applied to
the debt means permanent reduction in
expenditure, another step toward ade-
quate tax relief, contribution to
national defense.
Sl1Ah bktAo. Ol IIiEdllS announcer
long drive for economy--three years
more of constructive effort. But it is
f1ne exercise. You need it. You prob
ably will liken me to the doctor to
whom man applied for advice as TO
his physical condition. The doctor gave
him careful examination and said.
Take more exercisel Find some
thing to do that will really test your
muscles, something that requires real
bodily effort. BY the way, what do you
do for liYing?'
" I'm piano mover said the man.
Move two pianos at time, then,
said the doctor.
Whatever effort you have made
along retrenchment lines just double it.
Move two pianos.
Fight for Balanced Budget.
we are closing busy year. We are
facing buster one. In view of what
awaits us. people in the service who are
not prepared for fight should get in
training Immediately, for fight Is sure
brewing in the interest Of balanced
budget. Those of you who saw that
great picture "Oid IronsideS" Will recall
the fTeckied-faccd water boy with q
coiintenance like cartoon, who, in the
very AASlgib Ox the CBtlIlCI, with the
dead and wounded covering the shat
tered deck, shouted exuItingly 10 one Of
his mates: "Ain't fightin' fun" In
the conflict for i929--the fight to keep
Outgo within inc0fneI hope you may
carry with you into the fray something
Of the fighting spirit Of the water boy
Of "OId IronsideS" Fighting for the
welfare Of the taxpayer, for the credit
Of the Federal service and n carry out
the orders Of our Commander-in- Chief
should be fun,
THE reason for all this fighting talk
Is our latest estimates Of receipts and
expenditures for l92g-just completed
IL was originally estimated We would
have comfortable surplus In 1929 Of
$252, ,540.283. That Is the amount car
ried in the 1929 budget Then as the
weeks and months raced by we saw
that nice little surplus melt away like a
belated icicle under the pitiiess barTage
Of a Summers sun. Today as a result
Of new laws increasing expenditures
combined With q new tax Law that re-