Evening star., 1938-07-13

show . reduction of $ll3,5O0. 900. but
the funds provided for the Works Prog
ress Administration are intended to
cover only the period from July to
February %, and there is therefore in
cluded under supplemental items" in
the present revision an estimated ex-
penditure Of an additional $500, ,00O, 600
for the last four months of the fiscal
year, to make the total fiscal year ex-
penditures for recovery and relief $2,-
go $50 900.
Revolving fund items show an in
crease of 1927. SOC. 900. due to the in
creased expenditures under the Public
Works Administration program for
completion Of projects under construc-
tion during 1888 and for beginning new
projects In 1889. There is also included
under supplemental items" the sum Of
500. .000, 900 to cover deficiency and
supplemental estimates for the year.
There are decreases in estimated ex-
penditures for 1899 below the actual
expenditures for 1888 of $38, 100 900
under the Veterans Administration,
ISL ,400, 900 under the Civilian Con-
servation Corps, $23.700, 900 under re-
funds and $3S,l00,000 under trans
fers to trust accounts"
The increase in the present esti-
mated expenditures over the expendi-
ture estimates contained in the 1899
budget Is 81, 2,11e, ,000, 900. OF this amount
approximately $l,912, 900, 900 is due to
increases In the general public works
program and the program OF the relief
Of unemployment; $129, ,O00, 900 results
from increases in the agricultural ad-
tustment program, $45, ,000, 900 from in
creased expenditures for the Civilian
Conservation Corps. $45. .000, 900 for the
expansion Of national defense, $10,-
000, 900 for refunds Of taxes, $25, 5,000,-
900 for supplemental items and $780,
600, 900 under the Reconstruction
Finance Corp. on account Of the elm
ination Of the credit item Of this
amount, in accordance with the new
policy announced in the statement ac-
compenying the Treasury daily state
ment for July !, 1898. On the other
hand, there Is = reduction Of 500, O,0OO,-
900 below the former estimate under
transfers to trust accounts"
Deficit and Public Debt.
The estimated net deficit (exclud-
ing debt retirement) for the fiscal
year 1899 will be $685., ,Ss7 900,
which Is IN increase of $2,525. .639 500
over the actual net deficit for the
fiscal year 1898, and $3,035, ,000, 900
more than the estimated deficit for
the fiscal year 1899 contained in the
budget submitted to the Congress last
January. This last mentioned in
crease is caused by the increased ex-
penditures of 116,000, 900 and q re-
duction in the revenue estimate of
$919, ,000, 900.
To finance this deficit it IS now
ance in the general fund will be- re-
duced by about $500, 900 900 and that
the gross public debt will be increased
by about $3,4S5, ,000,00
It should be pointed out, however,
that this increase In the public debt i
does not mean that the Treasury will
borrow that additional sum on the
market. There will be available dur
ing the fiscal year for investment in
special issues Of Government obliga-
tions, the net sum Of approximately
$3.50, ,oo0, 900, leaving $2.805 .o00, 900 to
finance on the market.
In order to show more clearly the
No,,ASt&nsA and dis<vi1>a,k{ov, and Ai.k~l-
button Of the public debt. there is set
forth below, in millions Of dollars, 4
statement Of the debt on June 30,