Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-07-05

wealth by States In lS2ZJ
Itemized Statement Available.
An itemized statement of what this
money has been going for is now
available only up to May 81.
From it you uill see that the
biggest single item OF regular run
ming expense in the NeiD Deal has
been interest on the debt. About
s1,785.000,0O0 has been paid out
in interest By New Dealers and
oil but 1907 900 900 waS on the old
war debt: national defense took
SI,218,000, 900. OF Which the Ndry
got 694,OO0,000 and the Army.
s524,000 900. The Veterans Adj
ministration took 1921 900 900.
If you lump the Army, Navy, vet
Grams and war debt interest together
you can see President Roosevelt has
spent 1851 ,000, 900 of his money on
past and future wars This is more
than one-flfth of his total expenditure,
and the end is not yet in sight.
1t only cost him half that much to
operate all the rest of the regular
branches of Government Isl, 1888, 000,-
000).
Spending Well Advertised.
The emergency spending between
March 4. 1888. and May 81. 1885. has
been fairly we'll advertised. The total
was 1886, 0O0. 900, of which nearly
half was spent on relief payments and
public works (s6, 484 100000.
Only s1,059 900 900 was loaned out
to business, banks, railroads, home
owners and others. The rest went for
extra expenses by regular departments
paying interest, building extra ships.
buying stock in banks.
From these figures you may
Judge whdt a colossal bear Mr..
Roosevelt is holding at the wrong
end He has attempted to pull
back lately on relief expenditures
and has been fairly successful. But
he is committed to policies and is
under unprecedented pressure from
the country to continue the en-
ldr0ed Federal responsibility for
business revival and care OF all
needy.
How he will ever ease himself out
of the expenditures this entails no
one here knows.
Budget Balance Plank Seen.
Some of Mr.. Roosevelt's associates
say he Is preparing to run on q budget
balancing platform next year. No one
doubts that he hopes to do it, but few
outsiders believe he will be able to.
The figures show that the encour-
aging increase in revenues and the
proposal for more and more taxes will
not do the job. He has few aces in
his sleeve 1.-THE gold profit on devalu-
alton, which is to be applied to the
debt eventually, but the problem is
so vast that a few years more may
be required to work it out.
New Dealers Resentful.
A suspicious quietude settled over
the administration after Senator
Glass rewrote Section II of the bank
bill. From the published accounts
you would think that the New Dealers
agreed Glass was right and they were
wrong. That is not the situation.
The New Dealers are deeply resentful
of several Of the changes and are keep
ing quiet only because they have a
plan. They expect the House to stand
out against Glass and induce him to
give in on the most important points.
The change they hate most is
the one diuiding authority (as they
see it, between the Federal Reserve
Board and the banks on monetary
policy. Under the altered bill, all
the banks Mould need to do Mould
be to ,oin ouer single broad mem
Der and they could tie up the
Open Market Committee.
You may be sure that provision will
not remain in the bill, or else there
will be no bank bill.
European Intrigues.
Europe is still good place-to stay
away from. The established chican-
cries Of international politics were
never more evident there than now.
To give you an idea:
The Soviets are preparing to de-
mand navy so per cent as large
as Great Britain's. They will sa2 they
need the fleet to protect the Baltic.
OF course. they are only bargaining
for other concessions. John Bull has
heard about it. and considers it pre-
posterous.
s sasssssss ~