Imperial Valley press., 1928-12-05
COOLIDGE
SUBMITS
BUDGET
Total Expenditures To
Reach Nearly Four and
One-Half Billions.
EXPECTS SU RPLUS
President Declares He
FOresees No Further Tax
Reduction.
BY CECIL OWEN
Omitted Press Staff Correspondent

Omitted Press Staff Correspondent
WASHINGTON, Dee. 5.-Prcsi.
dent Coolidge today submitted to
congress the budget for the fiscal
year 1880, totaling with postal ser
vice payments, $4,417,379,904 az
compared with $4,32s, ,O2s,236 in
1929 appropriations.
In his accompanying message, the
President revealed that the govern
ment upon closing its books next
June at the end of the fiscal year
will have n surplus of $36,990, 1872,
but he warned that eve have no
immediate prospect of any further
reduction in taXes.'
The predicted surplus caused sur.
prise on the hill as Budget Director
Lord nad said in July there would
be n $94 100000 deficit unless gov.
crnment expenditures were sharply
curtailed.
Decrease in Receipts
Total receipts of the government
in the fiscal year 1929 were esti-
mated by Mr.. Coolidge at $685.
3j,66l, as compared with receipts
in the fiscal year 1923 of $4,042,
34s,l-6. Expenditures for 1929 were
'put at $3,794, ,745, 400, az compared
with expenditures last year of
$3,6i3, ,jl9,S75.
The surplus for the fiscal year
1928, which closed June 80 last,
was $39S, ,S2S,2Sl, which was $50,
100000 less than the estimated sur.
plus. Taking into consideration
the $5o,00o,o00 appropriated by
congress subsequent to transmission
of the budget for settlement of war
claims, the President said the diff.
ference between the estimated and
actuat surplus in 1928 was but
5000 900.
"This current year, 1929, tho
outlook is not so BRIGHT he con
tinHcd, explaining that the forecast
in 1927 of surplus of 500, $40,
2s3 for the fiscal year of 1929 has
been materially changed, "With
actual operations for four months
of the current fiscal year of record
and a clearer conception of what
we face. the estimate is now that
our surplus this year will be $780,
90,192. While this margin of re-
ccipts over expenditures is small,
il IS most gratifying, as on July l,
last. the best estimate that could
be made indicated n deficit of about
$94 100000.
'Thc surplus now estimated is
based on receipts amounting to
1881, ,735, ,G6l and expenditures of
S3,794,745,4 400. The difference be-
tween the estimate of year ago
and this estimate is primarily re-
Elected in the expenditure figures
witch have increased $23S,00O, 900. -
The postal deficit, Mr.. Coolidge
said. accounts for $6S000000 of
this estimated increase in eXpcndi'
lures. Included in that amount is
about $0,000,000 for overtime pay
of postal employees, another 49,,
100000 for carrying ocean and all
mail, $14,00O,000 for increase in raj
transportation rates, and $50,
100000 reduction in postal revenues
Flood Control Expense
Expenditures for flood control ac
count for $16,000,000. Public build
ings under construction and roads
being built account for $26,O00,0OO
Increases in pensions raise the cx
pcnditurcs by 81 100000 and in
crcascs in pay of government EN-
ployces account for $2l 100000.
Tax refunds show an estimated in
crease of $lS,000,000 and interes
payments of $5,000,000, while thu
Navy and Shipping Board expendi
lures, the message said, account fo
$26,0O0,000. These were cited as th'
major items which enter into the in
creased government spcndings TIN
year.
For the fiscal year 1880, whicl
will commence on July | next, Mr.
Coolidge forecast surplus of 500,
/Cont;nuoI ON Do oen V'wOl