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Show Economic Highlights Industrial News Review - Happenings that Affect the Dinner P:ils, Dividend Checks and Tax Bills of Every Individual. National Nation-al and International Problems Inseparable In-separable from Local Welfare. oOo The taxpayer will find a certain amount of encouragement in recent treasury figures concerning emer- ... gency expenditures for the eleven months ending May 31. The deficit, after subtracting public debt retirements, retire-ments, was $3,287,400,000. Mr. Roosevelt's Roose-velt's estimate of the deficit, made some months ago, was $7,300,000,000 i more than twice the present deficit, with only a month of the fiscal year left to go. Reason is that emergency spending was much less than anticipated. antici-pated. Where the budget authorized total spending of about $11,000,000,-i $11,000,000,-i 000, only $6,370,0000,000 was spent, of which emergency payments came to $3,580,000,000. Routine governmental costs were $2,790,000,000, as compar- rill ed with $3,477,000,000 a year ago, so the administration's promises of economy in that field have, to a sub- Istantial degree, been fulfilled. Treasury Treas-ury income was well over the pre-1 pre-1 ceding comparable period $2,700,- 000,000, as against $1,700,000,000. The unspent emergency money, however, how-ever, has been appropriated and may still be used. It is generally believed that Mr. Roosevelt will use it during the coming fiscal year, in which the administration will make its strongest drive against the forces of depres-4?, depres-4?, sion. The new drive will require " money and plenty of it. By the time i this is read, Democratic leaders will J have pushed the last of the big money j bills through the house, where all ap- ' propriations' legislation must, under : the constitution, originate. It was the ! president's wish that the money be i appropriated without specific instruc-i instruc-i tions as to how it is to be spent, leav-j leav-j ing it entirely up to him. Represen-' Represen-' tatives weren't quite willing to do s that, and under the new bills a percentage per-centage of the funds have been specifically spe-cifically allocated. Some of the prtn-Jt prtn-Jt cipal allocations are: $100,000,000 for highway- construction $65,000,000 for public .'buildings; a maximum of $500,000,000 for PWA work. In actual ! I cash,' the president will have some-j some-j thing over $899,000,000 for relief J purposes. It is said that the president ,1 will ask for an additional $150,000,-t $150,000,-t 1 000 or so for drouth relief. Many " j more millions will likewise be avail-, avail-, 1 able, if Mr. Roosevelt wants them, .'.i The deficiency bill empowers him to ( Continued on last page) where near what an overly-optimistic public thought they would. Important f changes in recovery set-up, methods and personnel are coming before many moons. gsn: Economic Highlights t divert for relief all money repaid the RFC. The bill likewise gives the RFC authority to buy bonds of political subdivisions which have received PWA construction funds. Thus, the administration will face few financial difficulties in the immediate future. It will, however, meet strong opposition opposi-tion from taxpayers' groups which think the magnitude of appropria-j tions, reflected in higher taxes, are delaying, rather than helping, the trend toward recovery. I 0O0 ' The trend of public thought, as the administration enters its second year, is reflected by the multitude of newspaper news-paper and magazine articles that are now appearing, entitled, "What will follow the NRA ?" or "After the AAA What?" and so on. These bureaus bu-reaus have done much that is beneficial, benefi-cial, but they haven't achieved any- |