Word: budgets
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Dates: during 1930-1939
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...would the House tax bill raise that amount? There was some doubt about it last week. The Ways & Means Committee estimated that its measure would produce $1,032,400,000 extra cash; reductions in budgeted expenditures for 1933 were figured at another $200,000,000 and minor postal rate increases at $30,500,000. Thus by increasing receipts and cutting expenditures the Treasury would receive a total of $1,262,900,000 more than it now is getting, or $21,900,000 above Budget-balancing requirements...
Secretary of the Treasury Mills disagreed with these figures. He thought the House bill would produce only $997,400,000 in new revenue and estimated Budget economies at only $125,000,000. If he was right, the Budget would still be off balance by some $88,100,000. Speaker Garner raised the cry of "partisan politics" against his good friend Secretary Mills, accused him of "juggling" figures to suit his own economic prejudices. But most of Washington knew that the dispute was largely academic because estimating revenue at long range is largely guessing in the dark, with the chief factors...
...nationally committed against further payments, individual posts throughout the land clamored louder & louder for them. The Veterans of Foreign Wars, frank lobbyists, wangled energetically. The Ways & Means Committee set next week to begin hearings on Bonus legislation. House leaders warned that further cash payments would hopelessly unbalance the Budget but declared themselves impotent to check a House once stampeded by the "soldier vote." President Hoover usually waits for a troublesome Congressional issue to come to the White House before acting on it. His friends in the House, however, told him that if he followed such a course on the Bonus...
...Canadian, widow of an Englishman. Matter of fact last week there were sound reasons for the Empire to feel a little saucy. The British fiscal year 1931-32 had just closed and instead of recording disaster, Chancellor of the Exchequer Neville Chamberlain was able to announce that Britain's budget balanced with a surplus...
Naturally Mother Britain's budget, like that of Dame France, could only balance on paper. Her surplus of $1,383,200 was arrived at by crediting to Britain's Exchequer for the fiscal year 1931-32 an entire quarter of paid-up income tax which ordinarily would have been credited in the fiscal year 1932-33. In France the current budget (made to "balance" by even more irregular bookkeeping) has been publicly declared by high French fiscal authorities to be almost $150,000,000 in the red, a bookkeeping irregularity of three billion francs. Reason: the French parliamentary election next...