davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1938-01-05
Estimates Balance

which they believe to be the
proper amount under which the
fur -ctions required by law can
pe carried out with reasonable
efficiency.
During the final two weeks #
the calendar year, the President
obtains once more from the
Treasury Department its final
estimates of tax revenues dur"
ing the fiscal year which be-
gins more than six months later.
Since the tax revenues from
practically every major source
depend on business conditions
during that future fiscal year
the Treasury'S figures of neceS-
sity are based on a prophecy
of business conditions begin.
ming six months later and end
ing 18 months later.
Business concerns are more
fortunate. They also lay out
programs months and even a
year and half in advance.
But their programs are flex-
ible. They are controlled cur
rently by the condition of bus
iness, which permits the making
of necessary changes from
month to month and even from
week to week.
The Washington times., 1938-01-05
Curtailment Defended

six hundred million dollars. It
seems obvious to me and hope
it will be to the Congress. that
no further projects should be
authorized until projects now
under construction have reached
a substantial stage of compile
ton.
During the past five years we
have built more than LOO new
Federal buildingS-almoSt dou-
bling the number of such build
ings throughout the country. I
am strongly of the opinion that
the public-building program
should be restricted.
'539 MILLIONS SLASHED
Expenditures-The most i'm
portant fact Of this budget is
the reduction Of $3.50 ,OOO, 900 in
the estimated expenditures for
the fiscal year 1899. They
amount to $6,869, 100000, COM
pared with estimated expendi-
lures during the current fiscal
year of 1888 of $7,408, ,000, 900.
1t is hoped that this fact will
not be overlooked. 1t is fair to
say that this estimated reduc-
ticn may, by force of circum-
The Washington times., 1938-01-05
'Curtdilment Laid
To Recession,
Revenues

stances, become smaller because
of the future events which to-
day cannot definitely be fore
tcld refer specifically to the
possibility that due to world
conditions over which this ma
tiop has no control, l may find
it necessary to request addi-
tional appropriations for ma
tional defense. Furthermore,
the economic situation may not
irDprove-and II it does not, I
expect the approval Of Congress
and the public for additional
appropriations if they become
necessary to save thousands of
American families from dire
need.
Revenues.-During the first 10
months of the calendar year
1887 business conditions i'm.
proved materially and it was
the consensus of opinion in Gov
eminent and in business circles
that the improvement would be
maintained in 1888. There was
every reason to expect that the
revenues for the fiscal year 1889
would be greater than the ex-
pected revenues for 1888 and
that with reduction in the cost
of relief, the total expenditures
for 1889 would greatly decline.
That was the basis for our eX-
pectation of a balanced budget
for the fiscal year 1889.
The recent recession in busi-
ness has changed that outlook.
Today tt is necessary to revise
the estimates of revenues. They
will be less than we had antici-
pated. They will, as far as we
can tell, remain below our esti-
mated necessary expenditures.
We hope that the calendar
year 1888 will bring an improve
ment in business conditions and,
therefore, in tax receipts. The
Treasury. leaning to the con-
Servative side, predicts some i'm
provement over the present level
but does not assume in its fig
ureS that business in the cal
endar year 1888 will reach as
high a level as in the calendar
year 1887.
The present estimate of reve-
nue. for the fiscal year 1899 is
$5,919,000,000 compared with the
present estimate of receipts for
the fiscal year 1888 of $6,S2O,-
The Washington times., 1938-01-05

This year I recommend that
such items be curtailed. First,
because expected Government
income will be less. and second.
because it has been amply dem
onstrated that they do not pro-
vide as much work as do other
methods of taking care of the
unemployed. I do not propose
eliminating Federal aid to high
ways, but I do ask that such
aid be restored to approximately
the predepreSSion figures.
For the 10 years up to June
30, 1888, the Federal Govern.
ment spent an average of $40,-
100000 a year for river and har-
Dor improvements. During the
past five years we have spent
an average of over 100000, 900
q year. Meanwhile, a justified
demand for greater protection
against floods has developed.
Flood protection is necessary
and In this budget I am cur
failing the estimates for new
river and harbor improvements
in order to provide more money
for flood emergencies.
Reclamation projects have
been started which will call for
future appropriations of nearly
The Washington times., 1938-01-05

During November and Decem-
ber and after the hearings have
been held by the Director of
the Budget. he presents to the
President the total estimates
with his recommendations.
Again the President obtains
from the Treasury Department
check-up on estimated revenue
during the year beginning the
following first of July. If the
new report shows a probable
falling off of revenue, he makes
every effort with the assistance
of the Director of the Budget
to make further reductions be-
fore approving the final depart
ment and agency budgets.
It should be remembered that
the laws provide that the de-
partment and agencies shall
carry out certain duties. BY
these laws, the President and
the Director of the Budget are,
in effect, prohibited from elm
mating Government functions
or curtailing them to the point
Of ineffectiveness.
The result is that the PreSi-
dent and the Director of the
Budget arrive at a figure for
each department and agency
The Washington times., 1938-01-05
A Three Days Cough
Is Your Danger Signal
ADVERTISEMENT

No matter how many medicines
you have tried for your cough, chest
cold, or bronchial irritation, you can
get relief now with CreomulSion.
Serious trouble may be brewing and
you cannot afford to take a chance
with any remedy less potent than
Creomulsion, which goes right to
the seat Of the trouble and aids ma
ture to soothe and heal the inflamed
mucous membranes and to loosen
and expel the germ-laden phlegm.
Even If other remedies have failed,
don't be discouraged, try Creomul-
sion. Your druggist is authorized to
refund your money if you are not
thoroughly satisfied with the bene-
fits obtained from the very first
bottle. Creomulsion is one word-not
two, and it has no hyphen in it.
Ask for it plainly, see that the name
on the bottle is Creomulsion, and
you'll get the genuine product and
the relief you want.
The Washington times., 1938-01-05
Past Figures Accurate

on the President and the Treas
ury.
Another class of expenditures,
which, though subject to some
measure of administrative con-
troll, does not afford for large
reductions, is made up of those
which carry on the normal,
everyday operations of the Gov
ernment.
The third type of expenditure
is represented by the major ef-
fort of the Government to help
the economic security of large
groups of citizens in every part
of the country who, for many
reasons, definitely require some
form of Government assistance.
The final category includes
items of public expenditure for
capital improvements-such as
new highways, new river and
harbor projects, new flood con-
troll, new public buildings, new
reclamation projects, and other
new public works.
The Washington times., 1938-01-05
Full Text of President RooscueHs Budget Message the Nw Congress

tion laws Of the States have
the effect of materially reducing
our program for work relief.
Moreover, operations under the
new housing act will greatly as
sist in providing employment.
We can also look to the regular
public works program to pro
vide a certain amount of en-
ployment. With these aids and
the assistance confidently ex.
pected from private industry,
hope that the foregoing amount
for expenditure will be sufficient
to meet the needs for 1879. An
estimate of appropriation Of
$1,000,000,000 for this purpose
is contained in the 1889 budget.
DEFICIT AND PUBLIC DEBT
The net deficit for the fiscal
year 1899 is $949, ,606,O00, or
$138,523, 800 less than the deficit
for the current year. The gross
public debt on June 30, 1899, is
estimated at $38,528,252,918.
This does not take into account
any changes in the debt which
may occur as a result of the
Treasury policy with respect to
the sterilization of gold.
REFUNDING OPERATIONS
1t should be pointed out, how
ever, that the increase in the
debt by reason of the deficit
does not mean that the Treas
ury will borrow that additional
sum on the market. There will
be available during the fiscal
year for investment in special
issues of Government obliga-
tions, the net sum of approx
mately $1,163, 100000, which
represents investments of $780,
100000 from the old age reserve
account and the railroad and
Government employees r e tire
ment funds and $573,000,000
from the unemployment trust
fund, and a reduction of $10,-
100000 in investments held for
account of the adjusted service
certificate fund. AS a result of
these investment operations the
Treasury financing for the fiscal
year 1889 would be confined to
refunding maturing obligations.
Appropriations - The appro-
priations and appropriations
recommended in this budget,
total $7,973,843,219. The ap-
propriations and reappropria-
tions already made and pros
pective supplemental items for
the fiscal year 1888 for the
same purposes total $8,629,921,-
1893. This is a decrease of $685.
078,174.
The Washington times., 1938-01-05
Federal Budget Aids
US. Defense Program
Deficit of Billion Seen as
President Submits Figures

reduction in the cost Of relief,
the total expenditures for 1888
would greatly decline" he said.
That was the basis for our ex-
pectation of a balanced budget
in the fiscal year 1899.
THE recent recession in busi-
ness has changed that outlook.
We hope the calendar year
1888 will bring an improve
ment in business conditions
and, therefore, in tax receipts.
The Treasury, leaning to the
conservative side, predicts some
improvement over the present
level but does not assume in its
figures that business in the cal
endar year 1888 will reach as
high a level as in the calendar
year 1897"
Economies in Government out.
lays next year will be effected
principally in construction of pub
lie works. While efforts have
been made to reduce the expendi-
lures for the regular Government
departments, savings of only
$67 100000 will be accomplished.
Mr.. Roosevelt observed that
construction of buildings, roads,
dams and projects of that type do
not provide as much work as other
methods of taking care of unem.
ployed.
Accordingly he called for a slash
of $140,000.000 in the appropria-
ton for public highways, bringing
the budget ALLEGATION for roads
down to $140. 100000 for next year.
Estimates for public works as a
whole were reduced from $871,-
100000 to $619, 100000.
SEEKS PROVISO VETO
Two legislative Communications
were attached to the budget mes
sage by the President.
The first would give him the
power to veto individual portions
of an appropriation bill. At pres
ent, the Chief Executive must veto
the entire bill if he is dissatisfied
with any of its portions. He left
it up to Congress to determine if
he can be granted that power by
legislation or if a constitutional
amendment is necessary.
The second would permit the
Commodity Credit Corporation to
issue securities to raise funds with
which to make loans on commodi-
ties. At present the corporation
gets its money from the RFC.
The Washington times., 1938-01-05

600 00O-or, in other words, a
falling off of $401 900, 900.
Balance-The net result OF
these estimates of expenditures
and receipts shows for the fiscal
year 1889 a net deficit Of $780,.
600 0on. But it is fair to state at
the same time that this deficit
will be $138,000,000 less than
the expected deficit in the cur
rent fiscal year. In other words,
for the third year in succession
we would continue to decrease
the deficit.
Appropriation item veto-An
important feature of the fiscal
procedure in the majority Of our
States is the authority given to
the Executive to withhold ap-
proval of individual items in an
appropriation bill, and, while
approving the remainder of the
bill, to return such rejected
items for the further considerar
ton of the legislature. A re-
spectacle difference Of opinion
exists as to whether a similar
item veto power could be given
to the President by legislation
or whether a constitutional
amendment would be necessary.
I strongly recommend that the
present Congress adopt which
ever course it may deem to be
the correct one.
The Washington times., 1938-01-05

1856 as against budget estimates
of $82 100000 a year ago, while
the receipts from social security
taxes were $4,000, 1000 less than
was estimated at that time.
Customs and miscellaneous re-
ceipts, however, exceeded the
amount anticipated year ago
by $4O,000,000 and $18,000,000,
respectively.
Expenditures-The total ex-
penditures for the fiscal year
ended June 80, 1887 Exclusive
Of expenditures from postal
revenues), amounted to $8,1C5,-
158,547 as compared with an
estimate of So, 8,480, ,804,493 in the
budget submitted year ago.
This latter estimate included
an amount of $404,525, 900 for
statutory debt retirement while
the actual expenditures for this
purpose were $103,971 200. Thus,
excluding debt retirement, the
expenditures for the fiscal year
1887 we're $75,092,146 less than
the estimate for that year con-
tsined in the 1888 budget.
The total expenditures for re-
ccvery and relief were $3,014,-
589,913 as against an estimate
of $3,144,689, 700. Revolving
funds showed a net credit OF
$243,5 ,569, 1855, which was $S4,-
963,435 less than the previous
budget estimate of $328,532, 800.
Transfers to trust accounts
totaled 1912 1856, ,048, while the
estimates for this purpose
amounted to $842 ,235, ,3C0.
For the operation and main
tenance of the regular depart
ments and establishments of the
Government, including interest
on the public debt, there was ex-
pended 357,780,551, while the
amounts estimated for these
purposes totaled $4,417,887 ,903.
Deficit and public debt-The
gross deficit for the fiscal year
1887 amounted to $2,811,318,311.
The estimated net deficit. as con-
tained in the budget submitted a
year ago, was 2,248, ,128,774. The
increase in the net deficit is
more than accounted for by the
decline in rpceiOtS
The increase in the gross pub
lie debt during the year
mounted to $2,646, ,070, ,239,
bringing the total gross debt on
June 80, 1887, to $36, ,424.613,732.
The Washington times., 1938-01-05

While reemphasize the diff
ficulty of estimating the revenue
of the Federal Government from
6 to 18 months before that reve-
nue. flows in, there is satisfac-
ton in knowing that during the
past four years the estimates
of tax receipts thus made far
in advance, have been infinitely
more accurate as proven by the
final result than in the pre-
ceding years. Estimates remain a
prophecy; but our prophecies
have been far better borne out
by later events than prophecies
of earlier years.
It is also worth while to call
the attention of the Congress
and the public to the fact that
a very large proportion of our
total expenditures represent
fixed charges which cannot be
reduced by Executive action.
These charges are obligatory
The Washington times., 1938-01-05
1889 Expenditure Slash
Counted at $50 Millions
.JObless Pay
Scope Argued

(I.N.S.) President RoOse-
welt and Chairman Arthur ].
Altmeyer, of the Social Sc.
curity Board, differed slight
ly today on probable affects
of the jObless insurance pro-
gram on relief needs.
The President, in his bud
get message to Congress, said
it would materially reduce
the work relief program.
But Altmeyer today as
serted:
" The mistake should
not be made of assuming
that the benefits that are
paid out under these unem-
pl0yment compensation laws
will take care of the whole
unemployment relief problem
this winter or in the near
future"
The Washington times., 1938-01-05

compensation payments. the
1888 expenditures are expected
10 be about $35, 900, 900 less than
last year. There is a decrease
OF 81 lbs, 100000 in expenditures
Tor recovery and relief. The ag.
rlcultural adjustment program,
the Civilian Conservation Corps,
and refunds of taxes and an in.
crease of $1,149, 700, 900 for the
following purposes: $52,500 900
for the legislative, executive, and
judicial offices and the civil
department and agencies; $751;
100000 for the general public
works program: $50, 100000 for
national defense; $2,300,000 for
veterans pensions and benefits;
$90,900,000, prin C ipally for
grants to States, under the So
cial Security act; $50, 100000 for
interest on the public debt;
$3.50, 100000 for payments into
the old-age reserve account and
the railroad and Government
employees retirement funds;
$200,000,000 for supplemental
items; and $205 800, 900 repre-
senting a reduction in revolving
fund credits.
Deficit and Public Debt-Ex-
Guiding public-debt retirements,
the net deficit for 1888 is now
estimated at $1,088, ,129, 800 as
against an actual deficit in 1887
of $2,707,347,111. The gross
public debt on June 80, 1888,
is estimated at $37,603, ,646,918.
This, of course, does not take
into account any future changes
in the debt which may occur as
a result Of the Treasury policy
with respect to the sterilization
of gold.
'39 REDUCTIONS LISTED
FISCAL PROGRAM FOR 1899
Receipts-The estimates of
revenues for the fiscal year 1899,
which are necessarily based on
existing tax laws, amount to
$5,919, ,437, 900. This is $401,-
076,000 less than the anticipated
receipts for 1898. With the ex-
ception of social security taxes
and realization upon assets,
each major class of revenue
shows a decline below the 1888
level.
Expenditures-The expendi-
lures contemplated for the fis-
cal year 1889 exclusive of those
from postal revenues), total
$7,070,55 900. This includes
$201 ,515,O 900 for Statutory debt
retirement, leaving 5000, ,O43,-
900 for other purposes, which is
$3.50 100000 less than the
amount estimated for 1898.
The Civilian n Conservation
Corps, because of a contem-
plated reduction in the number
of camps and reduced expendi-
lures for cooperating agencies,
will require $3.50, ,000, 900, or $780,
100000 less than for 1888. Ex-
penditures for administration
and grants to States under the
Social Security Act will reach
a total of $338.23O,OOO, which
represents an increase of $685.
525, 900 in grants to States and
a decrease of $1.991, 900 in ad-
ministrative expenses. The in
terest payments on the public
debt will amount to S976,000,000,
or $49,000,000 more than for
1898.
Expenditures for recovery and
relief are estimated at $1,138,-
1000, or $841,356,600 less
than for 1898. The operations
of the Social Security act and
the un employment-compensa-
The Washington times., 1938-01-05
Stress Is Placed
On Reduction
Of Deficit

N.N.SJ. The tert of the
Presidents budget message to
Congress tolloDS, in part:
To the Congress:
Pursuant to provisions of law,
I transmit herewith the budget
of the United States Govern
ment for the fiscal year ending
June 30, 1889, together with this
message. The estimates have
been developed after analysis
Of the revenues, obligations, and
reasonable needs of the govern.
ment.
In simple fairness to the
Treasury I am confident that
the Congress and the public will
bear in mind certain fundamen-
tails relating to the making of
the national budget.
The first step calls for the
presentation. before the 18th of
September, by every department
and agency head, of estimates
of appropriations for The fiscal
year beginning the first day of
the following July - in other
words, at least 9 months before
the spending of the money can
begin. These estimates, care
fully prepared by the budget Of
ficerS and other officials of each
department and agency, are in
tended to represent what they
consider the minimum needs of
the work assigned to them by
law.
Thereupon the Director of
the Budget presents these totals
to the President, who asks the
Secretary of The Treasury for
The Washington times., 1938-01-05
Continued from Page u


$841,356,60O from the present
fiscal year.
S. The deficit estimate for
the 1888 fiscal year, which ends
June 80, has been raised from
$695,0' 0,000 to $1,088, 100, 900 be-
cause of the business recession.
5. The deficit will be financed
through Social Security and other
trust funds and not through pub.
lie borrowing.
6. Expenditures for highways,
rivers and harbor projects, pub
lie buildings, reclamation prof.
ects and other public works will
be reduced sharply.
Mr.. Roosevelt warned Congress
that if business fails to improve
and if war threats become more
pronounced, he will be forced to
ask for more funds for relief and
ornaments.
POINTS TO REDUCTION
THE most important fact of
this budget is the reduction of
$539, ,600,00O in the estimated ex-
penditures for the fiscal year
1939," he asserted.
1T is fair to say that this
estimated reduction may, by
force of circumstances, become
smaller because of future events
which today cannot definitely be
foretold.
II refer specifically to the
possibility that, due to world
conditions over which this ma
ton has no control, may find
it necessary to request addi-
tional appropriations for ma.
tional defense.
Furthermore, the economic
situation may not improve-and
If it does not, I expect the ap-
proval of Congress and the pub
lie for additional appropriations
if they become necessary to
save thousands of American
families from dire need"
SEES SOME RECOVERY
The revenue estimates for the
next fiscal year, the President ex-
planned, are predicated on the as
sumption that business will re-
cover to some extent.
There was every reason to
expect that the revenues for
the fiscal year 1889 would be
greater than the expected rev.
enues for 1888, and that with a
The Washington times., 1938-01-05

estimates of the total amount of
tax receipts which the Govern
ment may obtain during the IL
months beginning 9 months
later. This estimate by the Sec
retary of the Treasury is fur
nished him by Civil Service ex-
perts who have long-standing
experience with the whole sub
ject of forecasting economic
conditions in what may well be
called the remote future. These
experts properly call attention
to the fact that they are asked
to guess what the economic
status-and therefore the tax
receipts-will be during the fis-
cal year beginning the first Of
the following July.
The Washington times., 1938-01-05
To Get the Best Cough
Remedy, Mix 1t at Home

Iof water a few moments, until dis.
solved. It's no trouble at all, and takes
but a moment. No cooking needed.
Put the Pinex into a pint bottle and
add your syrup. This gives you q full
pint, of cough remedy, far superior to
anything you could buy ready-made,
and you get four times as much for
your money. 1t never spoils, and is
very pleasant - children love 1t.
You'll be amazed by the way it takes
hold of severe coughs, giving you double
soothes the infamed membranes. snd
helps clear the air passages. :: Money
refunded if it doesn't please you in
every way.
The Washington times., 1938-01-05

Receipts The income of
the Federal Government dur
ing the fiscal year 1888 is eX
pected to increase $1,026,673, 900
over that of 1897. The increase
of $1,101, $4,000 in internal
revnue collections being par
TALLY offset by a reduction of
$74,900,000 in other classes of
receipts. The total revenues
from an sources Exclusive Of
postal revenues) will amount to
The Washington times., 1938-01-05
Quicker Relief Big Sav.
ing. So Easy. No Cookine.

This famous recipe is used by mil
lions Of housewives, because there is no
other way to obtain such a dependable,
effective remedy for coughs that start
from colds. It's SO easy to mix "a
child could do it.
From any druggist, get 21S ounces
OF Pinex, concentrated compound Of
Norway Pine, famous for its effect on
throat and bronchial membranes. =
Then make a syrup by stirring two
cups OF granulated sugar and one cup