Henderson daily dispatch. (Henderson, N.C.) 1914-1995, 1937-04-30
Fer Capita Per Capita

Federal annual expenses are cur
rently equal to $55 for every man, wo-
man. and child in this country. If you
are head of family of five, you pay
$275 per year toward running the
Federal government You may not
realize it, for the Treasury is borrow
ing half this sum rather than taxing
you for the whole amount. Unless yC.
pay an income tax you may not know
about the other half either, because
the taxes are buried in the cost Of
the goods you buy. Did you know
that there are 200 separate taxes on
gas and oil?) The annual income of
the average family is $1,70O. Federal
expenses since 1929 have increased 100
per cent and have nearly doubled
since 1892 but the national income is
80 per cent below the peak. Expenses
amount to over $4,000 per minute day
and night. The expenses I refer to
are only those of the Federal govern
ment. Adding to them the local, coun-
ty, and State layouts, the total repre-
sents roughly $16,00O,0OO 900 per year.
If everybody, except those on the pub
lie payroll. paid taxes in the same pro-
portion as their income, thirty cents
out of every dollar in wages and sal
airy would have gone for government
of one kind or another.
Red Ink Figures Redder.
The danger signal in this spending
spree is the fact that no progress to-
ward budget balancing has been made
Actually we have lost ground in spite
of a tremendous increase in govern
ment revenues. This fiscal years re-
ceil,ts are $2,50O,OOO,OOO higher than
in 1882, vet our annual deficit is still
81, 5000, 100000 this year, compared with
SO, $50, 100000 in 1892 Worst of all, in
the last few months the gap between
public income and Outgo has widened.
So far in 1887 monthly revenues have
picked up $125,000,000 over last year,
but expenses have leaped ever high
ec--1S150, 100000 more per month. The
first four months deficit of about
$3.50, 100000 is $6O,OOO,O0O more than
the dark-red ink figure of the same
period last year.
Naturally, these huge raids on the
Treasury are steadily multiplying the
public debt. Brought down to you
and-me basis, the Federal government
debt amounts to $275 per capital. The
family of five spoken of above, there
fore, owes the government $1,375 right
now. The interest on this alone is $50
year per family. f course, some of
these public obligations have taken
the place of private credit and the net
gain in the debt which all citizens
owe may not have increased as much
as the figures indicate. However, a
big portion of the public debt has
nothing else Sehind it but perpetual
operating costs. Millions are being
and wasted on useless and
unnecessary '"projects." If it does
nothing else but eliminate waste, the
Presidents message will give us big
start toward a balanced budget.
Not Hewing To Line.
Basically the New Deals" theory
of public spending to offset private
retrenchment in a depression period,
and then pay off the debt in good
times. with money received through
increased tax revenues from better
business, is generally sound. | say
generally because the theory is
sound only if the projects on which,
the government spends its money are
useful and needed. Furthermore, if
the government can not hew to- its
plan of paying off its depression-ac-
cunulated debt in good times, the pro-
gram is nothing more than a raid on
the public treasury. Today we are al
ready six per cent above normal in
period of prosperity according to-
my Babsonchart. Yet our Federal
spending is even larger than at the
pit of the depression.
If we can not so much as balance
our budget, let alone pay off the $19,-
600 600 600 of debt pyramided during