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Show COOLIDGE ON SPENDING. j A few sentences from President Coolidge's address recently to the budget organization are here singled out to give the very well expressed counsels of prodent expenditures: "That policy of a balanced budget expenditures within receipts re-ceipts must not be molested." "It is far better to have no tax reduction than to have too much." "Every dollar applied to the debt saves perpetually the interest inter-est on that dollar." "True economy means the discouragement cf unneress rv ex penditure. It carries no thought of unwise, unscientific limitation." This is one of the President's shorter addresses, and on the whole one of the best on any subject he has ever made. He takes obviously more interest and more pride in this matter of careful administration ad-ministration on the expense side than in almost anything else. Some people, as for instance those who have spoken for the national Chamber of Commerce, can differ from him as to how far tax reduction should go and how far debt reduction. But that iteration and reiteration of the idea of the balanced budget, "expenditures within receipts," represents pretty sound doctrine for governments or private business. Of course they are unintelligent who fail to add the other side, that constructive spending it part of economy. Des Moines Register. |