The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1940-01-04

the courage and the honesty 10
specify where they should be made
II have carefully checked the In
dividual estimates under these broad
categories and / am satisfied that
no lower figures can be attained
except at the expense Of impair
ing the efficiency with which laws
are administered or Of working Iin-
due hardship on individuals and
economic groups. I refuse to ac-
cept the responsibility Of adopting
either alternative"
Beyond emergency national ex-
pense taxes, Mr.. Roosevelt had three
other revenue proposals.
Revenue Proposals
/. A casual reminder that con-,
gress had not raised revenue 10
repay the treasury for approximately
$325, 900, 900 Of farm parity price SUBJ
sides appropriated beyond the
budget for the years 1938-39,
2. A suggestion that congress
study the possibility Of levying small
fees on the users Of national parks
and forests, lakes, waterways, har-
bors and coasts. These fees would
be used to maintain services such as
roads, trails, grounds, dredged cham
nels, buoys, lighthouses, life saving
stations, ct cetera.
3. Return Of approximately $780,
100000 to the treasury by various
COVE nment corporations whose capt.
tai sunds are IN excess Of their
needs. The Farm Credit Admins
traitor, Reconstruction Finance Cor
poration, and Home Owners Loan
Corporation would contribute sub
stanttally.
Capital Funds Return
The return of capital funds can
be accomplished without additional
legislation. The $700,O00,000 thus W
be realized will serve in the next
fiscal year to reduce the net deficit
from 2,876,000,O00 to $2,l76, 900 900
the budgeted figure. With the
draft Of $l,150,000 900 on the treas.
ury's working balance, this recap
ture Of funds advanced In time Of
more acute economic difficulties for
relief purposes represents a tight
ening of the New Deal belt for sur
vival on the reduced rations made
necessary by Its reluctance to raise
the debt limit issue with congress
again.
Mr.. Roosevelt accompanied the
100000, 900 recaptuye plan with a
renewal Of his suggestion that Con-
gress authorize the capitalization Of
certain federal capital expenditures
that have proven to be self.liqui-
ating. That would transform them
from the category Of expenditures
to investments and would return to
the treasury the cash previously
advanced. He estimated that about
$2o0,0oo,0o0 could be realized In that
manner.
Way II Works Out
Here Is the way IL would work in
O specific case:
The government has about $780,
100000 invested In Boulder Dam.
The money came out Of taxpayers
pockets. Mr.. Roosevelt feels that
boulder Dam Is proven financial
success and will pay for itself from
proceeds Of electrical power. There
fore, he would have the investment
capitalized for q bond issue, the
bonds to be sold to the public. Bond
interest and ultimate bond retire.
ment would be provided from dam
revenue. The fund raised by the
bond issue would be paid into the
treasury. The bonds would be con-
tingent, liabilities Of the govern
ment. Bonneville and Grand Coulee
Dams could figure In such q pro-
gram.
Mr.. Roosevelt did not propose so
extensive capitalization venture
In this budget, limiting his recon-
mendation to advance Of RFC funds
to meet new .self-liquidating loans
Of the rural electrification adminis-
tration instead Of asking Congress
to appropriate directly to the REA.
More Funds Possible
In refusing to include o farm
parity price program In this budget
and cutting relief costs to q new
low, Mr.. Roosevelt explained that
future developments might require
additional funds for both, and that
he would, In that event, ask for
more.
As now planned, the Works Pro-
jects Administration will have l94l
fiscal year funds to employ an
average Of 1,350,000 persons COM
pared with an average Of 81 1850, 1000
In the current fiscal year. The Ma
tional Youth Administrator has
been cut is per cent TO o 194i pro-
gram covering 100000 young people.
The Civilian Conservation Corps
Mill haya a MONTHLY avarooa av