Evening star., 1938-07-13
Roosevelt Budget Text
President Presents Revised Estimates of the
Receipts and Expenditures Since
Presentation to Congress-
BY the Associated Press.

| BY the Associated Press.
Following is the text Of q statement
by President Roosevelt summarizing
the budget for the 1899 fiscal year
which began July /, 1898:
The attached summation present,
revised estimates Of receipts and ex-
penditures for the fiscal year 1899, re-
hecting the changes which have oc-
CURED in the budget subsequent to its
presentation to Congress in January
At the time the 1899 budget esti-
mates were prepared, it was hoped
that the business recession had run
its course and that early in the calen-
dar year 1888 we would witness q de-
cided Improvement. In my budget
message to the Congress. however,
said:
Furthermore, the economic stiua-
tion may not improve, and If it does
not, I expect the approval of Congress
and the public for additional appro-
priations If they become necessary to
save thousands of American families
from dire need"
Business conditions not only did not
improve. but gradually grew woFse.
This made it necessary to request ad-
ditional appropriations to provide
work relief for the unemployed and to
lay out a program Of Federal public
works which would not only aid the
unemployed but would 1T the same
time provide needed stimulus to
business. The business recession will
likewise affect our revenues for the
fiscal year 1899, and <hey will be ma
terially lower and our expenditures
much greater than were expected
seven months ago.
Receipts and expenditures for 1898
compared with present estimates for
1899:
Receipts.
1t is now estimated that total re-
ceipts for the fiscal year 1899 will
amount to $4,000, ,270 900, as COM
pared with actual receipts in 1898 of
Sc, ,24l .661 ,227. Income taxes are ex-
pected to produce 1921 SOC, 900 less
revenue than in 1898. Miscellaneous
internal revenue will be 1910, 800 900
less, while social security taxes will
be lower by 500, 200 900. Taxes on car
riers and their employees, due to the
fact that the 1898 collections in.
cluded 1887 accruals deferred by liti-
CATION, will be $64, 900 900 loss. The
tax on unjust enrichment will produce
$4,3OO,O00 more revenue than in 1898.
Customs revenues are expected to
show a decrease Of $8l ,000, 900 and
miscellaneous receipts will be less by
1900, 900.
Expenditures.
The estimated expenditures for the
fiscal year 1899, excluding debt re-
tirement, aggregate $685., ,157 800, As
compared with actual expenditures Of
$7,700, ,909, 1927 for the fiscal year 1898,
The principal increases are $216, 6,900,-
900 for the civil departments and
agencies. due chiefly to public works
projects relating to highways, rivers
and harbors and food control, public
buildings and reclamation, and to adj
ditional loans by the Rural Electrifi-
cation Administration; $500, 900 for
an enlarged national defense program;
1888 100000 under the agricultural
adjustment program on account of
cotton price adjustment payments,
parity payments under the new farm
bill, and increased soil conservation
payments; $46,soo, 900 for the in
creased requirements of the social
security program; and SO, zoo, 900 for
payment Of interest on the public
debt.
Expenditures for recovery and relief