The Waterbury Democrat., 1936-09-02

Oos, ,ooe, 300.
 National debt on June 30, 1887, $34, ,188, ,543, ,493.73.
 On June e, 1883 the national debt wa5 $22,538, ,672, ,164.
 "The unemployed are continuing to be absorbed in industry" MT. Roosevelt said. "And I believe that there will be @ further substantial increase of .ch employment during the coming months.
 Another Labor Survey
 Another survey of the unemploy- ment problem and the amount re- quired for drouth relief will be made early in the coming calendar year, and if additional appropriations for these purposes are found necessary, 1t is confidently expected that any such requests for additional funds will amount to les than $500,000, ,000." !"
 If MT. Roosevelt asks for all or any part of that $B00, 100000, the fiscal year expenditures, the deficit and the ultimate national debt will be increased in proportion.
 His revised budget estimates, in effect, leave a $500,00o, 900 leeway in estimating fiscal year costs, includ- ingthe drouth and unemployment relief burden.
 Further improving the prospective year-end picture of federal finances is the presidents intention to dip into the general fund or working balance of the treasury for approxi- mately $i,l00, 100000 to spend against current expenses.
 Summary of Revenue
 The presidents summary of reve- nue said treasury income would net $l2,000,000 more than had been eX- pected when the 1887 budget was presented to congress last January despite supreme court invalidation of special taxes involved in the de- cisions against the agricultural ad- justment act and the bituminous (Guffey) coal conservation act. The method of collecting social security taxes also has deferred until 1888 certain revenue originally estimated for 1897.
 But the president reported that these losses, aggregating $66s, ,000, 900 had been more than offset by in- creases in other revenues over es- inmates as of last January. These in- creases were set down asfolloWs:
 l. Revenue act of 1886, SAC, ,000,- = 900.
 2. Delayed collection of taxes from carriers and their employees S33, ,000.
 8. Increased revenue due chiefly to improved business conditions $237, 100000.
 The presidents summary did not contain Q breakdown of the 1886 revenue act to show the sum ex- pected now from the corporate sur- plus tax. But 1t did niclud, an es- tiinate of $82,000,0 900 as the sum the treasury will collect from processors who withheld taxes under the late AAA and to whom these taxes-due would have reverted but for special legislation levying upon such wind fall" enrichment
 The president said estimated ex- penditures include $660,000,000 for completing payments of the veterans adjusted compensation certificates and $680, 100000 for statutory debt requirements, which were not con- tained in his original estimates last January.
 Deficit VIII Be Lower
 On the basis of the. figures, the deficit for the le37 fiscal year will be 42,0o7, ,000, 900 or the lowest since the Roosevelt administration began. The deficit in 1886 was 94,764, ,000, ,000; in 1895, s3,67S, 100000; in 1884, $3,os9,- 100000.
 The presidents summary revealed thas the public debt will be required in new money for the remainder oi the fiscal year to finance federal undertakings including relief.
 The president asserted that re- quirements for the substitute AAA will be greater in 1887 than in 1886 because of the Interruption of that program by the supreme court" The needs in i037 will be around $685. 100000, he said.