The Washington times., 1929-12-04
THAN
TREASURY
INCOME
+ By ROBERT s. THORNBURGH

President Hoovers first budget
presented to Congress today
called for appropriations Of 49,
830,445,231 for the fiscal year end.
ing June 30, 1881, a reduction of
$146, 100000 from the 1880 budget
submitted by former President
Coolidge.
The budget, however contained
no amount for the revolving loan
fund for the Federal Farm Board,
for which $150,000,000 was placed
lin the 1880 budget. For compare
9nltive purposes the sum should be
deducted from the 1880 budget,
gplacing its total slightly lower.
Total expenditures for the year,
including retirement of the public
debt and other items not included
lin the budget, were estimated at
a$4,102,938,700, an increase of $79,-
1857, 900 over estimates for 1890,
aand $254,000000 over actual ex-
6penditures for 1929.
Receipts were estimated at 81
1928, 727, 900, a loss of $4,000, 900
from 1890, and a gain of $780,
100000 over 1929.
= Provides a Surplus
This would provide an antici-
,pated surplus of $122,788,966 for
June 80, 1881, and 1925, 581, 534
FOR 1880, as compared with the
actual surplus of $184,787 ,035 for
1929.
- The other principal features OF
the budget message we're:
/. Provision of $719,089, 900 for
national defense, including con-
tinuation Of the cruiser and air
craft carrier programs.
2. Appropriation of $33 900, 900
for War and Navy departments
for procurements of airplaneS un-
der authorized program and
's460,000 for Commerce Depart
'ment, Coast Guard and National
Advisory Committee for Aero
nautics for commercial aeronaut-
'ical operations.
H. 3. Recommendation for favor
able action on Mellon-Berenger
7debt agreement with France, al
ready ratified by that nation.
Would Reduce IaXeS
=, 4. Recommendation for $780,
900. 900 reduction in taxes through
j per cent cut in corporation anu
normal income rates.
5. Government finances pro-
ii1ounced in sound condition.
* 6. Increased appropriation for
fflood control and rivers and har-
bors work. Plan for initiation OF
work on Boulder Dam project to
be submitted at early date.
7. Heavier appropriations for
Justice and State departments
because of Importance Of con-
duct of law enforcement and
foreign affairs.
8. Increase of $1.275,000 for
Prohibition Bureau and $2,450,000
for Coast Guard.
Concerning the Federal Farm
Board, am simply delaying the
presentation to Congress of an
estimate for an additional amount
for the revolving fund until it is
known more definitely what fur
,,ther amount will be needed"
president Hoover said.
: This will not in any way
hamper the board, as it has suf-
ficient funds at present"
> Referring to the January naval
conference in London Mr.. Hoover
summarized national defense as
follows:
Cares for Defense
: I'm addition to the normal
maintenance and operation re-
uuirementS of the War and Navy
departments, provision is made
flor carrying forward the air ser
vice programs of the two services,
the housing program of the Army,
and the requirement of the Navy
with regard to the modernization
iof old battleships and the con-
Struction of new ships author
lied by the act of February Is,
1929, as we'll as the light cruisers
land submarines authorized by
prior law.
, with regard to the Is new
ccruisers authorized by the act of
last February, provision is made
for continuing work on the two
new cruisers, already laid down.
and on the aircraft carrier and
three new cruisers to be laid down
late in the fiscal year, 1890, and
for the commencement of the
construction of the second and
third blocks of five cruisers each,
, late in the fiscal year, 1881"
+ AS to the air service, the Presi.
dent said
with regard to the Army, pro-
vision is made for the procure
,ment of the 433 airplanes pertain
ing to the fourth increment of the
five-year program authorized by
Congress. This program calls for
ISIS planes to be on hand and on
order on June 80, 1881.
Forty Planes Short
1.-THE present shortage in the
program is about 40 planes
= Concerning the Navy air ser
vice, the last, or fifth, increment
of the five-year program author
lied by Congress will be reached
in 1881. This program contem-
plates about 1000 planes and two
lighter-than-air ships to De on
hand and on order at the close of
that fiscal year. To accomplish
this provision is made for the pro
curement of 260 airplanes and for
continuing the work on the two
NRbter-than.air ShiDS,"