OCR Text |
Show Reserve System Brings Savings Washington. Use of the reserve system by government chiefs In setting set-ting aside certain amounts of the annual an-nual appropriations for unforseen expenses ex-penses has incidentally resulted in a new means of government saving, the treasury now having reserved balances bal-ances of $291,824,651' for the last two years it was revealed by Director Lord of the budget in his annual report. The reserves were ordered to be set aside first in 1922 and in the first three years $221,140,137 in unexpended balances bal-ances from these funds were added to the surplus fund of the treasury. "The success of this procedure," Mr. Lord said, "in preventing deficiencies in appropriations ap-propriations and in saving public funds has firmly embedded it in our national budget system. There is now general acceptance of the principle that the minimum amount of money to be expended in any fiscal year is not of necessity the amount appropriated by congress, but the smallest amouni upon which the business of the government gov-ernment can be effectively administer ed under the program outlined by con gress." |