The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-12-27
EXPECTS FIGURE TO
GO EVEN Higher AS
EXPENDITURES JUMP
interested In Normal Income
and 0utgo; Recovery
Spending Is Separate
M0RGEMTHAU CALLED IN
President Works on Budget
Which Will Be Given Con.
gress Next Week

Washington, Dec. 81. (AP) ~
President Roosevelt displayed no
surprise Wednesday at the latest
treasury statement showing deficit
in government finances of more than
a billion dollars and it was reported
at the white house the figure would
mount even higher as result Of the
recovery program.
The chief executive was said
authoritatively to be interested in
making certain that income in reve.
nue. keeps pace with the normal cur
rent expenditures and he understands
this income and outgo is about on
m even basis.
The deficit is expected to repre-.
sent only a part of the extraordinary
expenditures being made by the gov
ernment in behalf of the recovery
drive.
Continuing his preparation of the
budget to be submitted to congress
next week, President Roosevelt called
in Henry Morgenthau, acting secre-
tary of the treasury, and Lewis
Douglas, budget director.
s Messages Await Attention
Roosevelt told newspapermen At
his press conference that he has not
started writing his budget message
nor his message on the state Of the
union to be read to congress on the
opening day, January 3.
Asked to give his views on past
events and predictions of those to
come at the turn of the year, the
president replied that he was willing
to let the same old forecasters do the
job and continue to be the goat.
The government continued the
price Of domestic gold at $34.06 an
ounce. It was the seventh successive
time this figure had been announced.
AS to foreign trade, the depart
nent of commerce reported favor
able balance Of $50, 0OO, 900 for No
vember-$184, 600, 900 in goods going
abroad while $128,000, 900 came in.
Il Another development was an esti-
mate by Walter J. Cummings, chair
man Of the deposit insurance corpor-
alton, that the temporary guarantee
fund becoming effective next week
twill completely guarantee 81 per
cent of the bank accounts of the ma
ton"
Says Plan Is Constructive
Cummings termed the insurance of
deposits up to $4,000, which starts
January /, "the most constructive
plan ever devised for the protection
sof bank deposits" Other directors
/ of the corporation concurred with
him.
The exact amount Of the deficit
given in the latest announcement Of
the treasury's condition dated Decem-
Der % was $1,024,12 ,667. On the
same date last year the deficit was
$1,593,69 1853.
Ordinary expenditures were within
receipts, but those classified by the
administration as emergency" ex-
ceeded the amount of the deficit.
Receipts since July /, the begin
ming Of the fiscal year, were 81, 440,-
1913, 463 as compared with $1,OO0,-
209,302 for last years corresponding
period.
Ordinary expenditures were ST.
1926, 424,842 and emergency expendi-
lures 81, 038, 1870, 288.
Biggest items in the emergency
classification were 1881 ,841 900 for
the RFC, $2O4, 301 900 for the public
works administration and $146,810,-
600 for the conservation corps. The
civil works administration had taken
$53,S42, 900 and the farm adjustment
administration $39. SIS. 900.