Evening star., 1934-07-16
FEDERAL SPENDING.
TOPS 4 BILLIONS.
About $4,000, 900, 900 Re-
mains as Questionable
Assets.
BY the Associated Press

% hhc aecNtiAASa fAtehs
The Government spent around
s4.5o0, 600 900 of emergency money in
the past fiscal year, but nearly half
of It bore a return address, How
much of that will come back is a de-
bsted point.
The best available figures indicate
about $4,000, ,0Oo, 900 was used for
loans. Federal credit projects. and in
other channels where II remains-os-
tenSibly at least-an asset.
The rest of the $4,000. 900, 900 has
gone out the window with no strings
attached. for emergency relief. civil
works, civilian conservation activities,
highways. hog purchasing and other
welfare enterprises.
Differ as to Value.
Some administration critics assert
the Nations till has bid good-by to
nearly all It's emergency dollars. on
cials of the agencies concerned say
most of the Governments loans and
investments represent real assets.
The United States Chamber Of
Commerce, in a statement last night
on Government expenditures, declared
balancing of the budget before 1887
appears doubtful despite the fact its
accomplishment In the fiscal year
1886 has been frequently announced
in official quarters" The chambers
fortnightly review also limited at the
possibility of higher taxes.
Here is the chambers argument:
"The total amount which Is now
available for spending. including def
mite appropriations, advances and un-
expended balances of previous appro-
priations. amount to approximately IL
billions.
I'm addition, advances of an indefl-
mite amount are authorized for GER
tain purposes. such as purchases of
preferred stock Of banks, advances TO
the Agricultural Adjustment Admins
tration. and to meet obligations in
CURED under the national housing act.
Doesn't Include Gold.
Neither does the IL billions include
the $4,000, 100000 stabilization fund
set aside from the profits of gold de-
valuation. nor the $l39. .000, 900 pay
ment to Federal Reserve banks in con-
nection with their stock In the Deposit
Insurance Corporation which Is also to
be met from gold devaluation profits
THE budget estimates published
last January contemplated only 2.7
hilliane aYnaroanru avVav.dif.trap d,,r
ing the fiscal year ending June 30,
1895.
These figures indicate the wide
discrepancies between the budget es-
Inmates and the fiscal program, which
may be followed during the current
fiscal year.
THE national debt now exceeds
$27 ,000, 900 900. Current receipts are
expected to cover ordinary expenses
only and expenditures for emergency
purposes presumably will have to be
met by borrowing"
Expenditures Outlined.
A rough approximation of the Gov
ernment's loans and outright grants
follows:
Recoverable:
$3.50, 100000, farm benefits-bal.
anced by processing taxes.
$164 ,000, 900, Commodity Credit Cor
poration loans on cotton and corn.
s482, 100000 Farm Credit Admins
tration loans and investments In q
variety OF agricultural credit bodies.
$4,000. 900, investment in Federal
land banks capital and surplus.
$58, 900. 900. public works loans To
municipalities and States.
s70,000,000 public works loans tc
railroads.
1928. 1000. 900, investments in Home
Loan Bank and Home Owners Loan
Corporation.
$500. 600. 900, in direct r. r. C. loan,
met addition to those previously out
standing).
$l49,000,0 900, stock in Federal De-
posit Insurance Corporation.
Gone for good:
$704 .000, 900, emergency relief.
$805, 200. 900, civil works.
1891 ,000,0 emergency conservation
work.
$267 900, 900. highways.
$4,000 900, subsistence homesteads.
$4,000 900, Industrial Recovery Ad-
ministration.
$72.000,000, rivers and harbors.
Tennessee Valley Authority spend
ing of 1000. 900. a Boulder Dam
item of $l9.000,000 and $l33,000, ,00O
Of unclassified public works expendi-
lures are also included here as out
right expenditures the amount Of re-
turn being uncertain.