The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1937-01-09
BUDGET PLAN
IS OUTLINED
BY ROOSEVELT
Calls Attention to Large
Sums Of Money" Spent
for "Needed Reforms"
BY ARTHUR F. DEGREVE
United Press Staff Correspondent

WASHINGTON. Jan. 0. (UP).
President Roosevelt told congress
Friday that skyrocketing revenues
and sharply reduced relief costs
would balance the federal budget
during the 1888 fiscal year begin
ming July l, 1887, except for debt
retirement of $4O1,515,000. He
forecast completely balanced bud
get in the 1889 fiscal year begin
ming July /, 1888.
In his annual message outlining
the state of the nations fiscal af-
fairs, Mr.. Roosevelt also:
/. Called for a national defense
appropriation of nearly $1,000
00O, 000-thc highest in the peace
time history of the country.
2. Placed relief costs for the
1888 fiscal year at maximum of
$1,853, 1898 or $963,003,000
less than the amount estimated
for the 1887 fiscal year ending
June 3.
3. Estimated the government
would collect $7,293,607,00 in
taxes during the last six months of
1887 and the first six months of
1888 and spent $5,S41,9 68,000
during that period for regular de-
partmental activities. This is
net increase of $718,83l, 900 over
estimated departmental expenses
for the preceding IL months.
4. Fixed the total Of ordinary
plus relief and recovery expendi-
lures ,during the 1888 fiscal year
at $7,695,122,000 as compared
with an estimated $8,480,S04,493
during the current fiscal year.
S. Called upon industry to light
en- the federal relief burden by
employing more mskilled work.
{ ers, chiefly over as years of age,
who are now on relief rolls.
6. Urged congress to make the
civilian conservation corps a per-
manent federal agency.
7. Recommended continuation
Of the three cent postage rate, ex-
tension of miscellaneous internal
revenue taxes soon to expire OF
substitution of other levies of
! equal revenue producing ability,
and closer scrutiny of appropria-
tons for emergency agencies.
8. Warned congress that it must
provide new taxes to meet the cost
of legislative acts that incur ex-
penditures not contained in the
budget. :,
9. Reiterated his plans to spend
a program for government reor-
ganization to congress.
10. Estimated the gross public
debt at the end of the current
fiscal year would reach $35, 026,-
900, 900, an increase of $l,24S,-
100000 over that of the preced-
| ing IL months. Estimated the
gross public debt at the end of the
1888 fiscal year would be substan.
TALLY the same as at the close OF
the present fiscal year.
II. Proposed appropriations to-
falling nearly $1,000,000,000 for
the department of agriculture Of
which nearly $500,000,000 would
be diverted to enforcement of the
soil conservation act which re-
placed the invalidated agricultural
adjustment administration.
IL. Sought $43,000,000 for the
Tennessee Valley Authority along
with consent of the congress for
the iva to incur an additional
| $5,500,000 in contractural obliga-
| tons.
10. Reduced the budgets Of the
| federal communications commits
sion and the federal power COM
mission but added $67S, 163 to the
purse of the federal trade commits.
sion which some believe would aid
in administration Of new legisla-
ton to achieve detectives of the
invalidated NRA.
The president opened his budget
message with the notation that
congress initiated during the past
four years to combat the depres-
sion and to obtain needed reforms
"have cost large sums of money"
The benefits obtained from
them, however, he added, have far
outweighed their costs. The ma
ton, he said, soon would be reap
ing the full benefits Of those pro-
grams and at the same time, have
a completely balanced budget.
The New Deal, the president
continued, has two detectives and
both "can be accomplished under
a sound financial policy" He gave
them as: /
/. Restoration of a successful
economic life by providing greater
employment and purchasing pow
or for the people, by stimulating a
more balanced use of the nations
productive capacity, and by in
creasing the national income and
distributing it on wider basis OF
prosperity. i
2. To gain new advantages of
permanent value for the American
people.
He then took credit for the New
Deal for business improvement,
increased employment in private
industry, higher farm prices and
rising industrial production and
factory payrolls since he came in
to power. |
The president then tossed part
of the responsibility for balanc-
ed budget in 1888 to employers
and congress. Here is the picture
as he painted it: /
The federal government is not
going to let American families
stave. Adequate sums must be
appropriated to feed, clothe and
provide work for those who, thru
no fault of their own, still are un-
able to obtain jobs in private III:
dustry. These unfortunates will
continue to get work on public