Show national affairs A f written tor for the park record by FRNK FRINK P th that at there Is no panic or depression in the ailing so lar far as the united states Is concerned can tie be gathered from a reading ot of secretary mellons statement on the budget surplus for the fiscal year which closed on june 30 this statement revealed the tact fact that instead of a i deficit which had been anticipated several months ago there was a budget sur plus ot of it was also shown I 1 that during the fiscal year the national debt was reduced in the um sum r of 0 O 0 mr air mellons Mel tons statement sets out that the aggregate ot of tax receipts including customs income tax and miscellaneous internal revenue receipts was greater than in 1928 income tax receipts aggregated as against in 1928 an increase of and the report declares that there was a remarkable increase I 1 amounting to about jn in re from the current individual income ne 0 me i tax until the returns have been analyzed it is impossible to assign definite reasons for this abnormal increase but generally speaking it was unquestionably lue due to widespread prosperity the cumulative results ot of the reduction ot of surtax x rates to a more reasonable point and more specifically to increased income realized on the sale ot of capital assets due la in the main to an exceedingly active and constantly rising public security market customs duties including the tonnage tax yielded Os as compared with 13 in 1928 and the treasury estimate of the increase la is accounted for in large measure by the impending change in our tariff rates experience having shown that imports sports tend to increase prior to tariff legislation 0 with this unexpectedly large surplus re reports ports immediately began to be put in I 1 circulation in washington to the effect that there would shortly be another reduction in the income taxes it Is not cot relieved believed that any such reduction will be made until after the returns tor for 1930 are in at least it Is pointed out that a part ot of the increase in income tax re celita this year may have been due to increased earnings earning by the public on the stock exchange there JS Is no assurance that the returns from this source will be as laige in another year and in addition there here may be considerable call on oil the treasury due to farm relief for these there reasons it is not thought that the ad ministration leaders will favor further income tax reduction at this time S at the same time it has been ann announced oluric that pre president s ident hoover favors a budget I 1 tor for 1031 which h ich will not exceed the total which has been set bet for the fiscal year 1930 0 there has been a trend in the past year or costs s so toward an aa increase men mental t al costs and the Pies president Ident has sent notice to the department heads it Is said that they will be held to full responsibility in this move to keep the e expenses X in 1931 down to the budget provided for in 1930 0 I 1 this action too will meet with gen I 1 cral public approval it is to be expected or 0 f course that there will be mounting costs ot of government within the next few leam I 1 ears and ft n d it Is of course wise policy to keep t the h e ex expenditures down to the lowest level consistent ith public service that the tha iati national onal debt has been reduced so materially matei mateli lally ally during the past few years while at the same time there has been a reduction in taxes bays a R good deal tor for the constructive policies which have been followed today the united states has the highest standard ot of living i for a great nation in the history or of the world our present prosperity Is due in no small part to the policies at home and I 1 I 1 abroad which our government has been following during the years of postwar post war reconstruction I 1 |