The border vidette., 1934-06-16
ECONOMIC ta,GALiGhIS
0-11-34

|
/! for the eleven months ending
May 81
The deficit. after substracting
public debt retirements, was SO,
267. 100000 Mr.. Rooseveil's
estimate of the deficit, N ade some
months ago. was s.. .30O, 600, 600
more than twice the present
deficit, with only q month Of the
fiscal year left TO go.
Reason is t h at emergency
spending was much less than an
ticipated. Where t he budget
authorized total shending OF
about $1l.OC0,OO0, 900, only $6,
$40, 900, 600 was spent, Of which
emergency payments came to
So, $50, 600, 900. Routine govern
mental costs were 50 700. 1000. 600,
as compared with 49, AT 600, 900
o year ago, SO the edministra
tion's promises of economy in
that field have, to substantial
degree, been fulfilled. Treasure
income was we'll over the proceed
ing comparable period-S2 70O,-
600. coo as against ST 700, 900, 900
The spentemereency money
however, has been appropriated
and may Still! be used. It is
generally believed h at MIR
Roosevelt will use it during the
coming fiscal year. in which the
Administration will make it's
strongest drive against the
forces of depression.
The new drive will require
money-and plenty of it. By
the time this is read. Democratic
leaders will have pushed the last
of the big money bills through
the House, where all appropria
tions' legislation must. under the
Coustitutio originate. It was
the Presidents wish that the
money be appropriated without
specific Instructions as TO bow
| it is to be spent. leaving it en
Isireiy up to him. Represents
tives weren't quite wiling to do
that, and under the new bills q
percentage of the funds have
been specifically allocated. Some
of the principal ALLEGATIONS are:
500, 100000 for highway con-
struction; $65, 100000 for public
buildings; maximum of $500,
OCO, 900 for PWA work. In &C.
tuai cash, the President will
have something over $500 600,
0O0 for relief purposes. It is
said that the President will ask
for an additional $50, 600, 900 or
SO for drought relief.
Many more millions will like
wise DO available, if Mr.. Roose
velt wants them The deficiency
bill empowers him to divert for
relief all money repaid the RFC.
The bill likewi gives the RFC
authority TO buy bonds of political
subdivisions which have receiv
ed PWA constructions funds.
| Thus, the Administration will
face few financial difficulties 10
the immediate future, It will.
however. meet strong opposition
from taxpayers groups which
think the magnitude OF appro
pr!ations, reflected ia higher
taxes, are delaying, rather than
helping, the trend toward re.
| cOvery.
The silver bloc ia Congress
| has at last made itself felt IN le
gislation-a mixed achievement
Of Doth success aud failure. It.
has succeeded to the extent that
! it has obtained q law empower.
| ing the American government to
rehahi!itate silver values. It
has failed inasmuch as future
activities will be dependent on
| the attitude of the President--he
il forced to do nothing, unless
| be wants to.
A few Waeks ago, Mr.. Roose
celJ started bis silver proaram.
Il has two phases The domes
tic phase calls for the grad uaI
purchase by the treasury of l.,
800, 100000 onnces Of silver.
against which currency will be
| Issued. TIE foreign phase lies
IN efforts TO obtain world agree
meEt or silver as a monetary
metal. Tue great question. which
is now unanswered, is: win
other covers join in bringing
/ silver back:'
| What b q silver advocates
want is biuetalism. Their stand
has BOT varied greatly since
Bryan carried their banner-and