The Washington times., 1930-12-03
Continued From Page u

"a balanced budget" for the next
fiscal year., which If adhered to,
and providing that Treasury esti-
mates of revenue are reasonably
accurate, will result in q small
surplus of around 10000, 900 next
fiscal year.
And then. striking a reassur-
ing note, he concluded:
"When we stop tc consider
that we are progressively
amOrtizing our public debt, and
that a balanced budget is be-
ing presented for 1882, even
after drastic writing down Of
expected revenue, l believe 1t
will be agreed that our Govern
ment finances are In sound
condition"
Borrowing Near
Mr.. Hoover said he was op-
posed to any tinkering with the
present system of retiring the
public debt, which now amounts
to about $440.00Q000 a year.
While the present Treasury
deficit of some $4,000, 900 looks
large, he declared he did not view
it with undue concern.
He pointed out it amounted to
only about 5 per cent of the total
Government expenditure. Some
borrowing by the Treasury prob
ably will be necessary.
OF the 1921 100000 increase in
next years budget over that Of
this year. nearly one-half. or $780,
000,0 900 goes to the Federal Farm
Board. And if Congress carries
out the intentions of some Of its
leaders, this amount will be in
creased, thereby insuring a, deficit
higher than the $lS0,000, 600
Other Increases Due
The principal other increases
go to the Veterans Bureau, Ship
ping Board, Department of Agri-
culture, Department of Justice,
and to various other departments
and independent bureaus, like
the Interstate Commerce Commis-
sion.
The Department of Justice is al
lotted 11,530,68O for the enforce
ment of prohibition. an increase
Of approximately $2,500,000 over
the present year.
This $2,500,0O0 goes for the
hiring Of some 500 additional
which Prohibition Director
Woodcock has estimated as neces-
sary, and for extra administrative
expenses.
It is not unlikely there will be
a fight on this appropriation
when it reaches the stage Of de-
bate in the two Houses.
The 1,530,680 given the JUS
tice Department is, Of course, only
a part of the Governments total
to enforce prohibi-
ton. It does not include the
Coast Guard and customs ex-
penditures.
Comparatively few Of the Fed.
eral departments and bureaus
were able to show decreases from
last years appropriations.
The Treasury was one OF them,
but only because the refunded
taxes next year will not amount
to as much as for the present
year.
No Time For Spending
In conclusion, Mr.. Hoover said:
For the fiscal year 1882 the
favorable margin, between our
estimated receipts and eSti-
mated expenditures is small
It will not take much to ex-:
haust the exl ected surplus.
I'm fact, it is inevitable that
some portion of it will be re-
quired to meet emergencies
which can not now be fore
seen. This is not a time when
we can afford to embark upon
any new or enlarged ventures
Of government.
'Tt will tax our every re-,
source to xpand in directions
providing for employment dur.
ing the next few months upon
already authorized projects.
~ realize that there will be
before the Congress this session
many legislative matters in
vOlving additions to our eSti-
mated expenditures for 1882,
and the pie. Of unemployment
will be advanced as reasons for
many new ventures, but no