The Washington times., 1930-02-24
.ECONOMYURG
BY HOOVER At
BREAKFAST
CONTINUED from Page ~

| duced revenues from income taxes
in March. due to the 1929 stock
slump, have combined to make
the Governments fiscal situation
anything but rosy, the legislators
were informed.
If Congress will refrain from
any extraordinary appropriations,
other than those already approved
and those contained in the huge
supply bills, it is probable that the
Treasury can escape deficit, but
not otherwise.
One of the congressional guests
later described the White House
session as "a tightWad break
fast"
I'VE were told we can't spend
any more money" he said.
Many Bills Pending
1t was disclosed that there are
now pending in Congress, in one
form or another, bills which
would require expenditure of some
81 800, 900 900 outside of the regu-
lar budgetary estimates.
These comprise, for the most
part, proposals to increase pen
sions for Civil War and Spanish
War veterans, and to confer add
tional benefits on World War
veterans; rivers and harborS i'm
provementS involving some $125,-
600 900: loans to levee districts in
the Southern flood region OF
about $1OO,OOO,OOO; an increase
in Federal aid to good roads
amounting to $5O,OOO,O and
various flood-control projects
costing in excess of 500, 600, 900.
These are only the larger prof.
ects; there are lnnumeraole
smaller ones.
Governmental finances are all
right if we stick to the original
budget estimates" said Repre-
sentative Smell, after the meet
ing. otherwise, we are going to
run into deficits and be con.
fronted with the necessity OF
raising more revenues"
TiISOn Ple0geS house
So far as the House is con-
cerned, Representative TilSon said
the leadership there would take
care of the situation.
we will stick to the budget,
or very close to it," said Tilson.
The budget provides for some
measure of relief to world war
veterans and for considerable
rivers and harbors improvements.
The delay in enactment Of the
tariff was scarcely touched on,
according to those present. The
conference dealt almost entirely
with the Government fiscal stu
alton.
Treasury officials informed the
legislators that if the budget were
strictly adhered to, thu prospec-
tive Treasury SURPRISES for 1880
and 1881 are $145 ,O00,0 900 and S42,-
600. 900, respectively. These fig
ures, however, do not take into
account any reduction in income
tax receipts that may be caused
by the stock market crash. The
Treasury figures income tax re-
ceipts for 1880 at $4,000, 00O, 900,
and for 1881 at 81. 1000, 900.
ROOp Gives Figures
Budget Director Roop submitted
to the round-table a compilation
Of appropriations proposed in
Congress, above the budget, which
totaled SLIPS, 900, 900, instead of
the $1,000. 100000 mentioned by
Representative Smell.
Proposed roads legislation alone
would account for a $3.50, 1000, 900
increase. General Roop said. His
compilation showed the following
additional increases above budget
airy estimates: Rivers and har-
bors, \ $35 100000; flood control,
500. 100000; world war veterans.
aid and disqualification, $4OO, 0OO.-
900: Army pay, 100000, 900; civil
service pay, $500 900 900; reclama-
ton service. $4,000, 900; levee
loans, $100,000,000.
Should Congress pass all this
legislation. Roop estimated a 40
per cent increase in the Federal
tax rate would be necessary.