The Waterbury Democrat., 1937-04-20
President Has Sent
 Message On Budget
Continued from Page D

creases in government spending.
 ~The maintenance of Q sound fis- cal policy" he said, requires the careful planning of authorizations as well as appropriations.
 3'It is impossible to maintain the proper balance between revenues and expenditures unless restraint IS exercised with respect to althoriza- tions or appropriations.
 "It is a matter of concern to you and to me, who are working for Q balanced budget, that 50 many spe- cial groups exert the strongest pres- sure to bring about increases in government expenditures.
 "They pay little attention to the fact that the budget, as submitted, represents a coordinated fiscal pro~ gram and that material departures therefrom destroy the whole pllr- pose of the program.
 eff we are to avoid 8 continua- tion of deficits, we must resist these importunities or provide the a1eces- sary revenues to meet the iHlcreas- ing costs"
 Expense of Armaments
 MT. Roosevelt touched on the ex- pense of arrnafnents, saying the United States is spending much less for munitions and weapons of war than some other nations.
 "It is a matter of common knowledge" he said, "that the prin- cipal danger to modern civilization lies in those nations which largely because of an armament race are headed directly toward bankruptcy.
 "In proportion to national budgets the United States is. spending a far smaller proportion of government income for armamerts than the 1a- tions to which I refer.
 "It behooves us, therefore, to continue our efforts to make both ends of our economy meet"
 The first part of the presidents special message recalled his budget message of last January 5, in which he held out the hope of a budget in balance except for debt retirement cost.
 Revised Estimates
 "since then, however" he said, new factors have so altered the fiscal situation as to make it neces- sary to present revised estimates Of receipts and expenditures.
 "There is attached to this mes sage statement showing the pres ent estimates for the fiscal years 1887 and 1898 as compared with the estimates in my budget message.
 "A glance at this statement will show that the principal factor is the decline in tax receipts below our previous expectations"
 The table, compiled by the U. s. treasury, showed that $6,9O6, COG, 900 is the amount the government ex- poets to collect in the 1888 fiscal year as compared to the revenues estimate of $7,293, ,607, ,197 MT. Roose- welt put before congress in January.
 The table also showed that tax are more than $600,000,000 below the estimates for the fiscal year 1887 earlier estimate, being $5,224, ,00O, 900 compared to $5,828, ,150719.
 In the section of table dealing with expenditures, President Roose- welt listed $7,324, 100000 for spend- ing in the 1938 fiscal year, which, compared to $6,9O8, 100000 in esti- mated revenue left the $418,000, ,000 deficit he anticipated in the 1858 fiscal year.
 Pre-view of Situation
 MT. Roosevelt gave picked con- gressional leaders 8 pre-view last night of the treasury situation. From information available after that con- ference it appears:
 1. No new tax bill is contem. plated by the president at this ses- sion of congress.
 2, He will ask congress to ap- propriate $500 100000 for recovery and relief for the next fiscal year.
 3. The layman's balance of the budget which MT. Roosevelt believed last January could be obtained by June 30, 1888, must be postponed until 1889.
 4. There is growing pressure for economy but little agreement on how to achieve it.
 5. MT. Roosevelt and some of his congressional leaders disagree par ticularly on relief policies, with in- fluential legislators proposing imnle- diate drastic cuts.
 6. The overall depression-recov- cry deficit, including the next fiscal year which will be the eighth of 8 series, will approximate $23,000. .000,- 900, perhaps more. These deiicits began with a modest 1902, 716,845 in 1881.
 Long Conference
 Last nights conference lasted more than two hours. Most of the conferees as well as the president hurried directly to the White House from Griffith Stadium where the senators opened the American league season by dropping 8 10-in- ming game to Connie Macks Ath- letics.
 Senator Majority Leader Joseph T. Robinson told reporters after ward that MT. Roosevelts relief mes sage with revised budget figures would be sent to congress, probably today. He and Chairman Robert L. Doughton of the house ways and means committee agreed there would be no new taxes at this ses- sion of congress.
 "No new taxes are in sight" Doughton told questioners, "and I hope none is in reach"
 Robinson, speaking for the con- ferees, said of the message:
 Tt probably will ask $l l,500,0 ,000, ,000 for relief, although some members of the conference felt that this amount might be reduced $1,O00,- 100000.
 Limit Expenditures
 ere xx,oc tho faa1iny nf all that