The Indianapolis times., 1933-12-28
BALANCING OF
' BUDGET URGED
BY 7. RS SON
Former Governor General of
Philippines Says Silk
Shirt Days Over.

BIZ United Press
PHILADELPHIA, Dec. %. - The
United States can not waste its
way back into prosperity" Colonel
Theodore Roosevelt today told the
Manufacturers and Bankers Club.
There is only one way a country
can exist permanently with hap
piness," the former governor gen
eral Of the Philippines said. "and
that is by having a balanced budget,
a good credit and a sound cur
rency."
Colonel Roosevelt called for a re-
turn to the ideas of economy that
were summed up in the phrase, we
should not spend more than We re-
ceive." These ideas, he said, we're
caught to American citizens as
children.
What applied in family life ap-
plies in national life" he said. "A
nation must not, and in the long
run can not, spend more than it
collect from its people There is
one way and one way only in which
a budget can be permanently and
properly balanced and that is by
this principle.
Silk Shirt Days over
THE silk shirt days are over"
He said that the nation must re-
turn to a simpler scale of living,
both governmental and private; that
it must adjust itself to changed
conditions.
There is no way, he said. by which
a program calling for the balancing
of the budget, the reduction OF
taxes and the maintenance Of eX-
pense can be followed in the light
of present rigorous economic condl-
tions
There Is but one way to balance
the budget at this time" Colonel
Roosevelt said, and that is to cut
governmental expenses to the bone
and to increase taxes where pos
sible. All other moves are sophlS-
try"
"Debt Never Greater
The national administration is
separating its expenses into two
classifications, Colonel Roosevelt
said those of general or ordinary
expenses and emergency or non
recurring expenses. He attacked this
classification as one used by the
various European governments when
they were tottering on the edge OF
the abyss and wished to conceal
their true condition"
He contended that by this method,
expenses previously included IN the
budget find their way around and
appear in the national debt He
said the national debt Of the United
States has risen from $4,000, 900, 900
in 1880, according to his estimates,
to at least $28,0OO,OOO,OO when the
sums now allocated are spent.
This figure, he said, is more than
a billion dollars greater than at any
previous time in American history.
Outlines Six Steps
Six steps were outlined by Colonel
Roosevelt as a sound program for
rigid economy in the operation OF
the federal government.
These were:
/. Consolidation of departments
and bureaus to avoid duplication.
2. Elimination of unnecessary per-
sonnel.
8. A reduced scale of compensa-
ton for government employees.
4. Curtailment or abolition Of all
unnecessary services.
5. Discharge by the government OF
its basic obligations only to veterans
of its wars.
6. The effecting of administrative
economies.
Colonel Roosevelt then took up
the public works program and said
the policy of the United States
should be ito spend no money there
on unlessNn and of themselves they
will become self-sustaining or un-
less they come under the head of
necessities"