Iron County Record | 1926-08-20 | Page 12 | Reserve System Savings

J Reserve System Brings Savings Saving Washington Uso Use of the reserve system by government chiefs in setting setting set set- ting aside certain amounts amount of ot the annual annual an an- nual appropriations for tor expenses expenses ex ex- has Incidentally r resulted in a a. anew anew new means of ot government saving the treasury now having reserved balances balances balances bal bal- ances of 1051 for the last two years it was r revealed b by Director Lord of ot the budget lu Ira his annual report 1 the he reserves were ordered to lo be bo set aside first In 1922 and in the first three years In unexpended balances balances bal bal- ances from these funds were added to the surplus fund of ot tho the treasury The Tho success of ot this procedure Mr Lord said In preventing deficiencies in apI appropriations appropriations ap ap- and In saving public j I funds tUMs has firmly embedded It in our national budget system There is now i general acceptance of ot the principle 1 I that the minimum amount of ot money to tobe tobe tobe be expended in any fiscal year is not noti i of ot necessity the amount appropriated I by congress but the smallest amount I upon which the business of ot the tho government gov eminent can be effectively administer administered ed under the program outlined by con COD congress gress