Evening star., 1935-01-07
President Roosevelt's Budget Message to Congress

wage TdUeS dIlU I'll chpdtlSlOll III tOGdl
hours worked, industrial pay rolls
averaged sharply higher over the year.
Distribution of commodities at retail to
consumers increased, but in smaller
proportion than output, with the re-
suit that inventories of manufactured
goods showed a net growth over the
year ended June 80, 1884.
At the end of the fiscal year 1884
the Bureau of Labor Statistics index
of wholesale commodity prices stood
at 748 per cent of its 1926 average,
as compared with 66.3 per cent on
June 80, 1888. and 596 per cent early
in March, 1888. The sharpest rise in
prices took place in farm products,
which were affected by anticipation of
smaller crops during the Summer of
1884. The rise in agricultural prices
more than offset the decrease In farm
output, and farmers cash income, in
cluding governmental rental and
benefit payments, was "a per cent
higher than in the fiscal year 1888.
Corporate profits, aided by larger
volume as well as by inventory ap-
probation, also increased consider
ably.
Following the close of the fiscal
year 1884, ouput in basic industries
fell sharply through September, re-
flecting particularly an overaccumu-
lation of inventories in steel and tex
tile products and the delay in the
placing of orders for Autumn mer-
chandise because of uncertainty as
to the effect of the drought. Indus
trial prices, however, remained re-
latively stable and prices of farm
products and foods moved into closer
alignment with prices of nonagricul-
tural commodities. In retail markets,
goods continued to move in sustained
volume with the result that inven-
tories were reduced to lower levels
and output was again increasing In
the final quarter of the calendar year
1884.
Condition of Fiscal Year 1885.
The total expenditure requirements
for the fiscal year ending June 80,
1885, are estimated at approximately
$8,58l 600, 900, as shown in the Gen
eral Budget Summary. OF this
amount, the sum of S3,321 900 900 is
for regular expenditures and $780,
900, 900 for recovery and relief. The
regular expenditures are for the fol-
lowing general purposes:
In millions
OF dollars
Operation of regular departments l.235
Veterans pensions and benefits. -. go
Interest Int rst,na. on the national debt. sas
S9btotal ,alon.: .:.............'.. 2.54S
q q q "a
Total .................... 33a1
The amount of 81 ,2a5 ,ooo, 900, men
toned above, includes $20,000,000 for
expenditures estimated to be made
this year from an additional sum of
approximately S125,000,000 which will
be required for 1885 to make up de-
ficiencies in the appropriations for
the regular departments and estab-
lishments, including the Veterans
Administration. OF this additional
sum, approximately $65,000,000 will
be required to meet the needs of the
Veterans Administration due to the
application of new laws or revised
rules pertaining to service-connected
disabilities.
Summary of Relief.
OF the total expenditures Tor recov-
cry and relief, $788,000,O00 are for
the Agricultural Adjustment Admin
istration and the refunding of proc
essing taxes, while s4,472, ,000,0 900 are
devoted to other purposes in the re-
covery and relief program. During
the first five months of the current
fiscal year the Government expended
for recovery and relief S1,712 ,000, 900,
or at the rate of about $350,000,000
per month.
A summary of the aggregate
amounts expended for recovery and
relief from February /, 1882. to No
vember 80, 1884, shows total figure
of S8,164, 100000. This expenditure
has been distributed approximately
as follows: