New Britain herald., 1930-12-03

enlarged ventures of government. Mir, Hoover said, Tt will tax our every resources to expand in diree- tions providing employment in the next few months upon already au- thorized projects.
 T realize that. naturally, there "ill be before the congress this ses- sion many legislative matters inyolv- ing additions to our estimated oX- penditures for 1932 and the plea Of unemployment will be advanced as reasons for many new ventures, but no reasonable view Of the out look warrants such pleas as apply 10 expenditures in the 1232 budget.
 Faith In Congress
 'I have full faith that in acting upon these matters the congress will give due consideration to our financial outlook, l am satisfied that in the absence of further legislation imposing any considerable burden upon our 1882 finances We can close that year with balanced budget,
 " llf<I1 E' >LD D4 LO iDIlSlIFI LIlit We are progressively amortizing our public debt, and that balanced Uudget IS being presented for I932. evon after drastic writing down of { expected revenue, l believe it will be agreed that our government finances are in sound condition.'
 On the subject Of taxes, Mir. Hoo Yer said he wishes 1t were possible ! 70 continue the one per cent cut au- thorized by congress last winter on taxes paid in 193o.
 "I regret" he added, that the present outlook for heavy decrease m probable income and the neces- sity 10 increase public works and aid to employment does not warrant the continuation Of the reduction at the present time.'
 f the tax slash. which reduced ! government revenues by $I6o.000,- GOO, wehe continued, Mir. Hoover said 8 deficit for 1892 as well as for i 1931 would be inevitable.
 Fayors Balanced Budget
 T am confident that the sentiment Of the people is in favor of a bal anced budget" he said T am equal ly confident that the influence on business Of having the financial af fairs Of the federal government on a sound basis IS of the utmost impor- ,tancc."
 Since transmission Of the 1881 Iorrrrcc.- q governments financial position has changed materially, the president pointed out. Receipts now indicated are s430010 o00 below the amount ot revenue estimated in that budget i Government spendings have increas- cd 1925, 100000 in the same period.
 This would indicate change in 1 the situation from the estimates of the last budget Of nearly s655, 5,000,- i 000." he added, This large sum. however, is partially met by the ap 1 pication Of stS5.000.000 of interest payments on the foreign debt to cur rent expenditures and by arrange ments Of the federal farm board by i which they reduced their net cash demands on the treasury by s10o,- l 100000 during this period. These sums. together with the economies 1 brought about in the government reduce the practical effect Of the change in the financial situation to i the present estimated deficit of ap- proximately $180,00o,0OO for the current fiscal year
 1 Due to Depression
 This development, Of course. is primarily due to the depression con- dtion not only in this country but l in the whole world. accentuated by the drought. and on the other hand, 1 to the necessary measures of the i government to increase employment, and the increases of allowances to