Indianapolis Times, Indianapolis, Marion County, 19 October 1937 — Page 9

TUESDAY, OCT. 19, 1937

Second Day Dishes Cut Meat Cost

Roasts Provide Material For Delicious Courses.

By MRS. GAYNOR MADDOX Ham and pork may be sky high. But you can twist its tail by wasting nothing. Use what is left from the roast in attractive new dishes, and the first cost won't seem so great. "he following recipes for second-day dishes will make you forget that the friendly pig has gone high hat. Ham and Tomato Timbale (4 to 6 servings)

Two cups canned tomato, 4 eggs, 1 teaspoon salt, 4 teaspoon pepper, 2 cups minced cooked fresh ham, ‘2 cup bread crumbs. Add beaten egg volks to cooked romatces. then seasonings, finely minced fresh ham, crumbs ana lastlv fold in stiffly beaten egg whites Turn into a buttered mold. Place mold in a pan of hot water and bake a moderate oven, 350 degrees until firm in the center n a hot platter and serve tomato sauce.

in F Invert o with

Tomato Sauce

a &

Two cups tomatoes, cups of water, cup teaspoon cloves, teaspoon allspice, 2 sprigs of parsley, 2 tablespoons chopped onion, 2 tablespoons butter, 1 teaspoon salt, dash of pepper, 2 heaping teaspoons cornstarch. Boil together, tomatoes and seaspices and parsley. Saute the onion in butter uniul brown, cornstarch and c¢ook well Gradually add toma to this mixture and cook until it thickens.

Pork Pie (4 to 6 servi

sSonings,

add

nes)

Four cups of cooked pork, 2 cups of left over gravy, 1 teaspoon salt, 1: teaspoon pepper, 2 tablespoons catsup, 1 sprig of parsley, 2 onion, 1 tablespoon butter Saute chopped onion in add seasonings and catsup to the gravy. Cut pork into slices three inches long and two inches wide. Put a layer on bottom of pie plate, add chopped parsiey and onion and continue until plate is full and cover with gravy. Cover with pie crust and bake in a hot oven for 15 minutes (450 degrees F.). Crust: One and one-half cups of flour, 1's teaspoons salt, 6 tablespoons shortening, cold water. Sift flour and salt. Cut shortening into dry ingredients with 2 silver knives until mixture is well blended. Add water gradually, handle as little as possible. Chill and roll out thin.

22 STUDENTS NAMED ON MAGAZINE STAFF

Twenty-two students sta «

tail

butter,

Butler have been named to the of Mss, quarterly publication of the university English department, according to an announcement by Miss Allegra Stewart Sparks, faculty sponsors. First semester editor will be Robert Ayres Included in the first issue of the publication will be short stories, poetry, and plays written by the English classes,

DINNER IS PLANNED BY NAVAL VETERANS

The U. S. Naval Veterans will observe Armistice Day at dinner to be held at 6 p. m. Nov. 11, in the Hotel Severin, it was announced today. Members will visit the Indiana World War Memorial preceding the dinner. Dr. Robert O. Levell, Indianapolis, author of “War on the Ocean.” is national commander of the organization.

BLAME SEX-KILLER IN GIRLS SLAYING

University

and Don |

THE INDIANAPOLIS TIMES

rm ARN

PAGE 9

Text of Roosevelt's Budget Address

WASHINGTON, Oct. (U. P.).—The text of President Roosevelt's budget revision message follows:

| The attached summation presents | revised estimates of receipts and ex-

penditures for the fiscal year 1938. !

reflecting the changes which have occurred in the budget subsequent to the revision of estimates contained in my message of April 20, 1937. In the latter message I pointed out that the decline in tax receipts was almost entirely responsible for the

then estimated deficit of $418,000,000 |

for the fiscal year 1938. It was indicated that this estimate would necessarily be subject to change, dependent on any action taken by Congress which might increase expenditures. { The following changes have oc{curred which could not be predicted at the time of the April estimates. The enactment by Congress of the new Railroad Retirement Act, which increased the number of annuitants by adding certain groups »f employvees retired under railroad pension systems, who were not included under the provisions of the former Retirement Act. and which added a reserve feature necessitating the annual investment of funds to establish a reserve against future payments, $113,000.000.

CITES REDUCED INTEREST

The continuation by Congress of reduced interest rates on Federal Land Bank loans and the reduction. for the first time, of the interest rates on Land Bank Commissioner's loans, necessitating an additional expenditure to reimburse the Land Banks and the Federal Farm Mortgage Corp. for the loss suffered through these reductions, $40,000,000. The enactment by Congress of legislation authorizing refund of the taxes collected under Title 9 of the Social Security Act to those states enacting, subsequent to the collection of such taxes, unemployment compensation program, $36.,000.000. The legislative extension of the Public Works Administration for two vears, and increase in the amount of funds made available for grants and administrative expenses, $25.000.000. The situation with respect to the impending surplus cotton crop. which will make it necessary for the Commodity Credit Corp. to make cotton loans, $130,000,000. The present revision by the Treascury of the revenue estimates showing a reduction gf $256.000,000 from the estimates of April 20. These changes have had the effect of increasing the deficit of $418,000. - 000 of last April by $600,000,000, but there will be savings under other items of expenditure amounting to $323,000.000 which will result in a net deficit of $695.000,000.

ESTIMATES RECEIPTS

The receipts for the fiscal year 1938 are now estimated at $6.650.000,000, and the expenditures, excluding $206,000,000 for debt retirement, at $7.345,000.000. The present estimated receipts represent a decrease of $643.000.000 under the estimates contained in the 1938 budget, and a decrease of $256,000.000 below the revised estimates of April 20. This decrease is

| more than accounted for by the re- | ' made by

| Corp.

{duction in the estimate of income and social security taxes. The expenditure requirements, excluding debt retirement, are now estimated to be $89.000.000 more than was anticipated last January after adding $1.500.000.000 for work relief, and $21,000,000 more than the revised estimates of April 20. As previously stated, changes which have occurred since last April have added $344,000,000 to the estimated expenditures, but there have been offsetting reductions in other expenditures amounting to $323,000,000. A part of this reduction was in the estimated expenditures {the old age reserve account,

for investments accounted was $540, - 000,000, it has been found, upon a re-examination of the status of the

19. the end of this fiscal year is $425.- States to Government employees re- , ury, the ultimate effect of such

[ 000,000, a reduction of $115,000,000 | tirement funds will be $27,000,000 | action would relieve the Treasury

greater than in 1937.

Last year $557,000,000 was trapsferred to the Adjusted Service Cer-

| tificate Fund for adjusted compen-

sation payments, but it is not con-

| templated that any transfers will be

made during the current year. Supplemental Items—There is in-

| penditures

under | While | the {former estimates of expenditures |

mates for 1938:

RECEIPTS

It is now estimated that total re-

ceipts for 1938 will be $1,357,000,000 |

more than the actual receipts for 1937. Income taxes will produce | $634,000,000 more revenue, principally reflecting a full year of collections under the revenue act of 1936 as compared with one-half year’s col-

lections in the fiscal year 1937. Mis- | revenue taxes | will be $205000000 greater, repre- |

cellaneous internal senting chiefly an increase in collections from estate taxes and alcoholic beverage taxes, new taxes levied under the Sugar Act of 1937. During the past fiscal vear, due to litigation, practically

no collections were made under the |

law levying taxes on carriers and their employees, but in 1938 it is expected collected from this source. Social security taxes which will be coliected for a full year in 1938, as | compared to only one half year in 1937. will result in $353,000,000 of additional revenue. Customs revenues are expected to show an increase of about $8000000 in 1938 over 1937, while miscellaneous receipts remain at about the same figure.

EXPENDITURES

The estimated expenditures for 1938. excluding debt retirement, will be $656.000000 less than the actual expenditures for 1937. General—The estimated general expenditures are $156,000,000 greater than the actual expenditures for | 1937. This is due largely to increased expenditures of $63,000,000 for highways, $40000,000 for the | Maritime Commission, $69,000,000 | for national defense, $67,000,000 un- | der the Social Security Act, and $59.000.000 for interest on the public debt: and to decreased expenditures of $76.000.000 for the Civilian Conservation Corps, $59.000,000 for agricultural adjustment program. and $7.000000 (net) for miscellaneous items.

RECOVERY COSTS CUT

Recovery and Relief—The esti- | mated expenditures under the re-

| covery and relief program will be |

$1.139.000,000 less than in 1937. This

amount represents reductions in ex- | of $621,000000 for the |

Works Progress Administration, $373.000000 for emergency public works, $85000000 for Resettlement Administration, and $60,000,000 for other purposes. Revolving Funds—The excess receipts of the Reconstruction Finance Corp. on account of repayment of leans, will be about $184 - 000000 less than last year, thus

| increasing total expenditures by

that amount. Last year repayment of the Commodity exceeded expenditures by $112000,000 thus offsetting the total expenditures of the Government by that amount. This year, however, on account of the surplus

loans Credit

cotton crop, not only will there be |

no corresponding offset, but instead there will be an excess of expenditures over repavments of loans in the estimated amount of $100,000.000. The total expenditures in 1938 will therefore be increased by $212,000,000. Other revolving fund items, including the Public Works Adminis- | tration, show a net decrease in expenditures of $12.000,000. | Transfers to Trust Accounts, Ete. | —Investments in old age reserve ac- |

| count for the fiscal year 1938 will |

be $160.000,000 greater than in 1937. |

and from |

that $158.000.000 will be |

| cluded in the 1938 estimates of ex- | penditure an additional amount of $180.000,000 for supplemental items | which will be needed to meet appro- | priations authorized during the past | session, or deficiencies in existing | appropriations. i Debt Retirement—There is inj cluded in the 1938 estimate $200,1 000,000 for debt retirement, which is { $96,000,000 greater than the amount | spent for this purpose in the past year,

ESTIMATED DEFICIT

The estimated net deficit (excluding debt retirement) for the fiscal vear 1938 will be $695,245,000, which

| is $2012,000,000 less than the net deficit for the fiscal year 1937.

Increase in the Public Debt

By reason of the net deficit the | total public debt will be increased [in the current fiscal year by $695.- | 245,000 provided that the balance in | the General Fund on June 30, 1938, | is the same as it was on June 30, | 1937. The point of major signifi- | cance in connection with the debt, | however, will be the change in the { character of the debt which will occur during the year. There are in{cluded in the total expenditures for

| 1938 which resulted in the above defi- | Public Works Administration on |

| the books ol the Treasury, plus the | ine tonight in Topeka, Kas. to re- |

cit investments in special Government obligations in the amount of $575,000,000. In addition contributions to be made by the states to the unemployment trust fund will likewise be invested in special Government obligations in the net amount of $500,000,000.

| of a substantial potential liability, {and to this extent the budget outlook would be improved. As a means of reducing this liability, and of avoiding the substitution of other liabilities therefor, I have determined that no further commitments should be made by the Reconstruction Finance Corp., other than for administrative expenses, and that the money represented by commitments now on its books, which, for one reason or another may later be canceled, should not be used for expenditure on other commitments. but be completely cleared from the books, thus insur-

tential future budgets. I have also determined that the liabilities carried upon the books of the Reconstruction Finance Corp. in the nature of undisbursed allocations to Federal agencies should not be used except to meet unavoidable requirements of existing law. Public Works Administration— On Sept. 30, 1937, the Public Works Administration had on its books undisbursed commitments for loans and grants in the aggregate sum of $530,000,000, of which $205,000,000 represents loan commitments and $325,000000 represents grant commitments. These commitments are listed in detail in Exhibit B and C accompanying this summation.

charges against

METHOD OF FINANCE

They will be financed from money | now standing to the credit of the

{ proceeds to be received from the | sale to the Reconstruction Finance | Corp. of securities now held or to | be acquired by that administration.

| Although he Public Works Admin- |

| istration finances a iarge part of

ing the elimination of such po- | 8 {000,000 for statutory debt require- |

| Roosevelt, in a | speech from Hyde Park, N, Y. was| Transfers to trus | saying:

[slump since the New Deal took com-

| consideration.

| Roosevelt

| its operations through the sale of | | its security holdings to the Recon-;

struction Finance Corp. the burden | {of its expenditures must be carried | Thus public debt receipts made | by the Federal Treasury until the |

available from the sale of these | securities purchased by the Recon- | special obligations to investment ac-

| struction Finance Corp. are actually ! counts in the amount of $1,075,000,- | sold on the market. 000 will be used to finance the |

DEBT SWITCH PLANNED

As in the case of the Reconstruc- | | deficit of £695.000,000 and lessen the | debt outstanding in the hands of | the public by $380.000,000. This does | not mean a decrease in the total | gross debt but only a switch from the hands of the public to Government accounts.

tion Finance Corp, it is improbable that the Public Works Administration will be called upon to meet all of the commitments now outstanding against it, and to that it is not necessary to meet

| budgeted

the extent | : | ury experts overestimated 1938 fiscal |

such commitments, the budget out- | | look will be improved. I have, there- | | fore, determined to adopt a similar | {policy with respect to the Public Works Administration, namely, that | | any commitments now standing on |

This does not take into account any change in the public debt which may occur as a result of the Treasury policy with respect to the sterilization of gold.

| Future Policy with Respect f{o Commitments of the Reconstruction Finance Corp. and the Public Works Administration Reconstruction Finance Corp.— | On Sept. 30, 1937, the Reconstruc- | tion Finance Corp. had on its books | undisbursed commitments in the | aggregate sum of $405000,000, ex-

| clusive of undisbursed statutory al- |

locations to Federal agencies and {of agreements to purchase securi- | ties from the Public Works Ad- | ministration. These undisbursed commitments, however, include | $149.000,000 in the nature of con- | ditional agreements, a large part of which ultimately will be canceled. Moreover, it is probable that | the Reconstruction Finance Corp. | will not be called upon to meet all |of its other commitments. The details of these commitments are shown in the appendix as Exhibit A. While the cancellation of such commitments would not of itself

| Corp, the funds of the Public Works | Administration are carried upon the

| books of the Government as appro=- | priation accounts, and to make cer- | tain that this program is carried out, {I am directing that the balances {now carried upon the Treasury's | bocks which may not be required [to take care of the Public Works | Administration program already approved, and after reserving $15,000,000 for administrative expenses, | shall be impounded and returned to | the Treasury. The amount thus to

| be written off the books will exceed |

return money to the public Treas- $100,000.

STOP TAXPAYING WORRY!

Unlike the Reconstruction Finance |

NEW PLAN SOLVES PROBLEM

November 1st is a deadline to Marion county taxpayers, but to thousands of home buyers using Railroadmen’'s new budget plan loan, it is just another day! You can solve your problem the same as they. Without charge, WE obtain your tax receipts

and pay them. YOU make a single payment each month on vour loan that covers

NOVEMBER

QUICK ECONOMY OR HIGHER TAX, ROOSEVELT HINT

Budget, Unbalanced for 8th Time, Points for New High Deficit.

(Continued from Page One)

Mr. Roosevelt looked to a gross deficit of $895.245000 on June 30. 1938, at the close of this fiscal year.) He estimated the |

second largest |

| Federal income in Treasury records. |

The net deficit, excluding $200.- | ment, will be $695,245,000. Revised budget estimates were] made public here last night as Mr. | community chest |

“We all agree that unless Federal

| t@xes are to be greatly increased, the! |expenditures have to be brought | { within the existing tax receipts.”

The two Presidential statements are expected to arouse an economy | storm in the extraordinary session | of Congress which will convene Nov. | 15. They appeared in the midst of |

the most ominous stock market |

mand. Congress might, however, expand thc spending program and further unbalance the budget. Mr. Roosevelt scheduled $180,000,000 for “supplemental items”—to cover overspending in some categories and possibly additional expenditures ordered by Congress. One such likely item was loans on this year's corn crop, understood to be under serious

Former Governor Landon, speak-

assert his leadership of the Repub- | lican Party, probably will make the | fiscal report a major | theme. Budget Is Summarized | In his budget summation and re- | vision of more optimistic January | and April estimates, Mr. Roosevelt reported last night: Revenue for this fiscal year ending June 30, 1938, will be $6,650,410,000, | second largest in Treasury records. | Expenditures will total $7,545,- | 655,000, a decrease from peaks of | the 1936 and 1937 fiscal years. Disappointing tax revenue and | Congressional appropriations beyond | levels upset calculations | and are largely responsible for the | unexpectedly large deficit. Mr. Roosevelt revealed that Treas- |

{ | |

| {

Revenue—Expenditures

| '| Comparative Estimates { |

WASHINGTON, Oct. 19 (U. P.) — Here is a picture of the Federal | Government's financial status for the 1938 fiscal year, showing re- | ceipts, expenditures and deficit as | now estimated, compaied with President Roosevelt's previous estimates: (All figures represent millions of dollars)

Receipts:

Jan. Estimates $6,648 463 182

Present April Esti- Estimates $6,243 463 200

mates ++. $5,046 494 210

Internal revenue Customs Miscellaneous $6,650

Total receipts ... 7,203

Expenditures Legislative, de partnients and agencies, judiciary (1) $1.0 National defense Veterans (1) AAA Social Security .... Debt interest Refunds Recovery-Relief .... Revolving funds (net) 140

636 180

accounts ...... 0000

Supplemental items.. Total expenditures debt $7,345

175

texclusive of retirements) Net deficit 2 net surplus (S)...(D)695 (D)418 (A) Excess of credits, deduct. (1) Includes general public works program items.

$7,324

(8)37

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Dayan's Downstairs Store

| WASHINGTON, Oct. 19 (U, P.) .— The {following table shows where Federal taxpayers’ dollars will come | from and how they will be spent in | the 1938 fiscal year, as compared with the 1937 fiscal year which end- | ed last July 1: Receipts:

ACTUAL ESTIMATE FISC. YR. 1937 FISC. YR. 1938 $4,597,140,102.49 $5,946,510,000 486,356,598.90 493,900,000 210,343,535.48 210,000,000

$6,650,410,000

{ Internal i Revenue .. | Customs | Misc.

Total Rec. .$5,293,840,236.87

PLEATED DRAPES TO MATCH, Pair

—25 W. WAS

Expenditures: . Legislative, Civil Depts., $ 903,507,636 88 856,111,693.49 580,234,708.98 533,577,043.77 385,807,729 .81 182,759,138.73

866,384,330.90 49,398,268.68

3,014,589,912.78 243,569.164.51

$1,002,400,000 925,000,000 580,000,000 475,000,000 310,000,000 250,000,000

925,000,000 46,000,000

1.876,000,000 140,000,000

curity ..... . Interest on Pub. Debt . Refunds . Recovery and Relief . Revolving Funds, net* . Transfers to Trust Accounts

827,386,047.96 636,255,000

.e 180,000,000 Total Expenditures: (E x ¢ 1 usive Debt Retirement Net Deficit Debt Retirement wre 108 Gross Def. . 2,811,318,310.60 *Excess of credits, deduct.

$7,345,653,000 695,215,000

1, 187,347.47 7,3475,110.60 71,200.00

$8.00 2,70

1 3 9 200,000,000 oS 895,245,000

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GRAFTON, O, Oct : vestments in the account on June

19 (U. B)—

The body of pretty, 19-vear-oli Louise Hornbeck, her skull fractured by repeated blows from a club or rock, was found today in a vard a few doors from her home. Officials said she apparently was the victim of a sex-crazed Killer. The girls father and brother found the body today after a sixhour search, started when she failed to arrive home last night.

30, 1938, should be $690,000,000,

ADMINISTRATIVE SAVINGS

Inasmuch as $265.000000 was invested prior to this fiscal year the remaining amount necessary to place the fund in proper status at

ment Act will be $134,000.000 greater |

than the expenditures for 1937. In that year under the provisions of the Retirement Act then in force

the expenditures consisted of an-| nuity payments only, since that act | did not provide for the establish- | of a reserve, and no invest- | ments therefore were required in

ment

1937. The contribution by

| the United |

and No

MONDAY

NEA ’ hb! 3 ER, | (

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Tear out this ad, send it in with vour name

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IR.

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THAT'S RIGHT—YET RINSO SOAKS MY CLOTHES AT LEAST S SHADES WHITER THAN ORDINARY SOAPS, AND IT'S SAFE FOR COLORS, TOO

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