The Daily Alaska empire., 1935-11-12
BUDGET REVISION.

"The underlying tax structure of the Government is stronger than before in our history said President Roosevelt in his summation of the ls3o budget innovation promised in his regular puagee message of last January land, normal business re- turns will produce revenues adequate for all essen tal purposes"
 He did not say probably" but will" and then he added:
 The prevailing of recovery points to the speedy decline of Federal expenditures for emergency actV- iteS." And to the point: The 1887 budget is being prepared with a view to sharply de- creasng the spread between income and outgo. Thus it is clear to that the Federal Government under provisions of present schedules will not need new taxes or increased rates in existing to meet the expense of it's necessary annual operations and to retire it's public debt.
 As coming from Chief Executive whose budgetary estimates have been the most conservative of any since the Federal Government has been operating under the budget system this promise of definite progress toward balancing the budget is infinitely moro welcome and convincing because he makes no attempt to fix date It depends he is careful explain, upon the avoid ance of raising more revenues than now contem- plated ito the necessary annual operations and to retire the public debt decision by the Supreme Court invalidating Agricultural Adjustment Act would render impossible that accomplishment On that point the President stated succinctly:
 It will be understood that estimates of
 ceipts contemplate the continued collection of
 processing taxes If the attack which has
 been made upon this act is sustained, we will
 have to face the problem of financing existing
 contracts for benefit payments out of some
 form of taxes
 For the obvious that "so great part of the Federal program influenced by economic condi- tions" the President reviewed the marked improve ment in business and agriculture which justified the saving of nearly billion and quarter during the first half of 1885 Total expenditures for the fiscal year ended June 30 last amounted to $7375 825 166 against an estimated expenditure shown in the budget of last January of $8581 069 026 The emergency pendtures for recovery and relief had been estimated at $5259 8O2 852 instead of which they actually to- tailed S4 262 257 POS Expenditures for the regular de- partments estimated last January at s1,913,7oO, 174 but actual expenditures almost 200 millions less $ 083 353 It had been calculated that the R. F. C. would be called upon to expend by June 3( last all accounts except relief, 556 millions, instead of which that useful agency showed net receipts of 07 millions and recovery and relief expenditures by other Government agencies were less than estimates by 334 millions
 On the other hand Federal income for the veal that closed June 30 89 millions above last January estimates Thus the years deficit was $3575 964 instead of the estimated $4 869 418338
 Deducting from the deficit the item of $573558, ,25 for statutory debt retrements left net deficit O $3 799 TIA and after deducting from the net defc such items the decrease the general fund balance the of trust fund receipts trust fund