The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-06
But Balanced REGULAR
Budget Is Proposed
in Message.
DEBT TO BE 81 BILLION
Roosevelt Asks Billion for
National Defense Be-
cause of Crisis.
Complete Text, Page 9
BY LYLE c. WILSON


WASHINGTON, Jan. g.
President Roosevelt today
submitted to Congress a bal
anced budget for regular
Federal expenditures in the
1887 fiscal year, but forecast
a work-relief deficit of S1,000,-
100000 to $4,000, 100000 for
that period.
Mr.. Roosevelt withheld from Con-
gress estimates of the size of the
work relief appropriation to be
sought this spring. He said, only,
that the appropriation would be far
less than the $4,880, 600, 900 which
Congress grudgingly voted last year.
The message forecast the second
largest annual revenue in Ameri-
can history for the next fiscal year
SIS ,654 600, 900. Mr.. Roosevelt said
that income would give him a
S5,000,000 surplus of receipts over
regular expenditures in the 1887
fiscal year-still excluding the pro-
spective relief appropriation which
will be determined and revealed in
March or later.
National Debt Doubled
This budget showed that seven
depression years will more than
double the national debt-from SIS
000,000,000 in 1890 to S31 900, 900 900
in 1887. Mr. Roosevelt prom
ised only that the 1887 deficit would
be smaller than the $3,234,0o,O0O es-
timated for 1886
He asked for 81 900, Goo, 900 for ma
tional defense. This draft on the
Treasury for men and guns gave
grave emphasis to his Jan. 3 warn
ing that the threat of war is upon
the world
Without mentioning the bonus,
Mr.. Roosevelt reiterated to Congress
that it must impose new taxes to
meet cash payment on any other
burden imposed on the Treasury be-
You'd budget items.
This message committed PreSi-
dent Roosevelt to permanent Fed
eral efforts to control American ag-
ricultural crops. If the Supreme
Court outlaws the AAA, the New
Deal will seek new legislation.
overall appropriations recon-
mended in this budget aggregate
$1,000 100000, although the Presi-
dent promised to hold his regular
expenditures within the smaller sum
expected in tax and other revenue.
The $64o0, 900 900 recommended to-
day is $l.254 100000 greater than the
overall appropriations proposed in
the budget presented one year ago.
1t was pointed out that there was
little connection between the actual
budget estimates and the appro-
priationS as they do not cover the
same period
For example. the larger part of
the S4,000,O00,00O work relief appro-
priation for the current fiscal year
ended June 30, next. probably will
not be actually spent until the start
of the new 1887 fiscal year. Thus
the estimates of expenditures for a
particular period do not correspond
with the appropriations that might
be made in the same period.
ReviSes Debt Estimate
Mr.. Roosevelt said conditions were
improving and that his policies were
aiding the nation to better times. He
revealed that New Deal spending
was far behind schedule.
Mr.. RooSevelt's failure to include
his prospective relief appropriation
recommendation prevented accurate
estimate of the prospective deficit
or of the probable national debt
when the next fiscal year ends en-
June so, 1887.
One year ago, Mr.. Roosevelt esti-
mated the national debt would ag-
gregate $34.238, 1923 $50 on June 30,
1886. when this fiscal year ends. To-
days message revised that estimate
downward to S30,933, 3750l7 and
forecast that Is months hence. when
the 1887 fiscal year ends, the ma
tional debt will aggregate s31 ,35l,-
100000 plus any appropriations
Congress may make this year for re-
lief
This message covers the II months
beginning July l, 1886 comprising
the last half of this year and the
first half Of next. designated at
the fiscal year 1897.
The President revealed a funda-
mental change in New Deal policy
structure. He announced the Agri-
cultural Adjustment Administration
the Civilian Conservation Corps and
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10 Holdups-Loot. 81.
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