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U S Sto to Have Surplus S Coolidge Says Asking Budget A Receipts for Fiscal Year of 1929 Show Decrease Decrease Decrease De De- De- De crease Postoffice Deficit Set at 68 Million By CECIL OWEN United Press Staff Correspondent W WASHINGTON Dec 5 United Pr Press President ss President Coolidge today submitted to congress the budget for Jor the he fiscal year 1930 totaling with postal service payments 4 1 i- i as compared with 4 in 1929 appropriations In hi his accompanying message the president revealed that the government govern govern- ment meat upon closing its books next June at the end of oC the fiscal year will wUl have a surplus of oC but ho warned that we have no immediate prospect o of any further reduction in hi taxes The predicted surplus caused surprise surprise sur sur- ur- ur prise on the hill bill a as Budget Director Director Director tor Lord had said in July there would be a deficit unless unless un un- un- un less government expenditures were sharply curtailed DECREASE IN RECEIPTS Total receipts of ot the government gO in the fiscal year 1929 were estImated estimated esti eat mated by Mr Coolidge at as compared with receipts In the fiscal year 1928 of or Expenditures for 1929 1923 were I put at as compared with expenditures last year of 3 S The surplus for the fiscal year 1928 1028 which closed June 30 last was which was WIlS 55 less than the estimated sur sur- plus Taking into consideration the tho appropriated by congress subsequent to transmission of the bUdget for settlement of var war claims the president said the difference between the estimated and ami actual surplus surplus' in 1928 was but This current year ear 1929 the outloOk outlook out out- lo look k is not so bright he continued explaining that the forecast in 1927 of ot a surplus of or for the fIscal year of 1929 has been materially materially materially mate mate- changed With act actual al op oper oper operations op- op er for four months of oC the cur cur- 9 rent fiscal year of oC record and a clearer dearer conception of or what we fa face e the tho estimate is now that our surplus year will be While thi Hil margin of or receipts over expenditures es cs is small it is most gratIfying gratIfy gratIfy- ing Ingas las on on July 1 I last the tho best estl that could be made deficit of about The surplus now estimated is based on receipts amounting to 3 3 and expenditures of ot 3 54 69 The difference between beten the estimate of or a a. year ago and this estimate is primarily reflected reflected In Inthe Inthe Inthe the expenditure figures which have increased The postal deficit Mr Coolidge said accounts for of this estimated Increase In expenditures Included in that amount is about for overtime pay fray of oC postal postal pos pos- tal another for carrying ocean and air mail mall 14 for Increase in rail transportation transportation transportation tation rates and a reduction reduction reduction tion in postal revenues FLOOD CONTROL EXPENSE Expenditures for flood control ac account account account ac- ac count for Public buildIngs buildIngs buildings build- build I Ings under construction and roads being built account for Increases in pensions raise the expenditures expenditures ex ex- by and Increases in increases increases In- In creases in pay of government em em em- plo es account for Tax refunds show an estimated In increase rease of or and interest payments of or while the navy and shipping bo board d expenditures expenditures expendi expendi- tures the message said account for These were cited as the major It items m mfr which enter into the increased go government eminent spending's this year For the fiscal year 1930 which will wUl commence on July 1 next Mr Coolidge forecast a surplus of or 60 Though the surplus margin for both the current and next year is small he added it is satisfactory as it points to a balanced budget It Is clear he warned that we cannot assume any great additional expenditures without jeopardizing this favorable outlook We are committed committed com corn Irrevocably to a balanced budget and that carries the assurance assurance assur assur- ance once that the only revision of oC our tax laws which will vill be bo considered is isa isa isa a revision downward We have no immediate prospect of any further reduction in tax rates but we have no thought of or curtailing In any way the benefits which have gone to the people by bythe bytho bytho tho the four reductions already made in taxes I l The Phe he president referred to to the French war debt to the United States which matures on August 1 I 1929 but he said It was vaiS as not included in the budget be becauSe because because be- be cause of or the possibility that it may maybe mayhe be he funded by ratification of oC the Berenger debt settlement agreement ement This agreement spread the payments payments payments pay pay- ments over a year 62 period and re reduced reduced re- re interest rates Though the French government has lias S so far failed tailed to ratify the agree agree- ment meat It is still expected that it may maybe maybe maybe be approved prior to August when the bonds mature Mr Coolidge said He recommended to that t if H the French ratify the agreement this country will do likewise The am amount to be spent for flood flood control projects next year ear on the Mississippi J and its tributaries was estimated at in jn the budget Construction projects authorized were estimated to require e in the forthcoming year and the budget also carries can for forthe forthe forthe the army's building program The estimates for 1930 also provided for technical and other buildings for foP the tIre theair theair air services of or the army and navy naNy a total of ef NUMEROUS INCREASES Increased appropriations were recommended rec ree- for tor the agriculture commerce commerce com corn merce Anterior justice postoffice state and war departments Decreases Decreases De De- IDe- IDe creases were proposed for the labor navy and treasury departments Retirement of or the public debt In Inthe inthe n the next fiscal fical year was estimated at or art ml increase of or over the amount retired In the current fiscal year Interest on the public debt was vas given as ris a reduction of or made possible toy by retirement of or orthe the tho third ti Liberty loan bonds The Tho amo amount nt recommended for tor prohibition enforcement was re reduced ro- ro by The veterans bureau Is given for construction of or additional additional addi eddi- hospital f facilities in the fiscal year ear 1930 and another is authorized Two million i is cl carried In the budget for carrying out the year 5 program for houses houses' and of offices offices of- of ilces of or ambassadors and ministers abroad ARMY AND NAVY COST Estimated appropriations for the army and navy In 1930 total which was the figure set after artel excluding all nonmilitary items so that this amount represents the expenditures res for tor purely military purposes Air interests of the were said to be developing in a satiSfactory satisfactory satisfactory sat sat- manner and the budget made provision for expenditure In Inthe Inthe inthe the fiscal year 1930 of ot I for air activities This expenditure is shared by the army navy commerce commerce com corn merce agriculture postoffice de departments departments do- do the coast guard and the ilie national advisory committee for aeronautics |
