Indianapolis Times, Indianapolis, Marion County, 27 October 1937 — Page 2

PAGE 2 Morgenthau Is Not as

THE INDIANAPOLIS TIMES

FULLER IS GRANTED |

WEDNESDAY, OCT. 27, 1957

veel last night in the Veterans’ | | mor, M. H. Sandorf, Neal Mor Hospital. They were Drs. V. F. Tre- land Jack Reiss.

| formly more optimistic. He is under | relief should be able to count on a powerful but so far ineffective busi- | continuing scale of Federal aid.

| ness pressure to relax some of the | | New Deal tax restrictions in an ef- Cumuintive figures for fiscal years | 1935-36-37 reveal 11 states which |

but granted the prisoner the additional time to file a petition for rehearing. Fuller now is in the Mich-! oa City

Sure of Sound Budget |

In 1939 as

‘Roos evelt

fort to quicken commercial and industrial activity. Basiness is notab!v anxious for modification of the tax on corporation surplus accounts and

the tax on capital gains. Debate of |

proposed madification will consume much time in the special session of Congress

| have enjoyed soil conservation and | AAA rental and benefit payments | jand AAA administrative expendi- | tures in excess of $600,000,000. These States probably can expect to continue to live in the style to which

STAY OF OF EXECUTION

Convicted Terre H Haute Killer

May Ask Rehearing.

ne was sentenced on Oct. 31, 1936, by Vigo County Circuit Court Judge John W. Gerdink. Trial records | showed that Mr. Mankin was killed { July 17, 1936, when he attempted to arrest Fuller for highway robbery

State Prison death |

1937 they are Stustomed) so far as farm funds are concerned: wr wv d i bad Arkansas, $629800,000; Illinois, | Stock market fluctuations, which | $101,200,000; Towa, $145,900,000; Kan- i’ Alf a d ’ | morning. [Dave had an alarming downward | sas, $139,800,000; Minnesota, $64,- |S cri, and under sentence to die, . Jaren bolster some arguments of« | 200,000; Mississippi, $68,400,000; Ne- | | today ed gr given a stay of exefered 1 behalf of tax law modi- | braska, $92500000: North Dakota, cution by the Indiana Supreme | Sy | $72,000,000; Oklahoma, $95,100,000, Court from Dec. 17 to Jan. 14. and Texas, $235,000,000. The Court affirmed his conviction,

Treasury Estimates Are Believed Overly, Optimistic and May Be Reason for Cautiousness of Secretary.

Arguments Bolstered Willis Fuller, convicted of slaying | and criminal assault. Fuller was

| Paul Mankin, Terre Haute Deputy | caPtured in Paris, Ill, the next

FOUR PHYSICIANS TALK

Four physicians addressed the Indianapolis Medical Society at a

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| | fication and may persuade Congress and the President to action. Theis [is no doubt that the Administration | realizes the potentially adverse po- | litical and economic effects of a | panicky market. Real reduction in Federal spending probably would be felt first and most in such stales as those in the following paragraph. States en =)

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By LYLE C. WILSON United Press Staff Correspondent WASHINGTON, Oct. 27.—President Roosevelt's “expected balance” of the budget in the next fiscal year contrasted today with Secretary of Treasury Morgenthau's inability to estimate whether the Government's books would be in the red or black June 30, 1939 Mr. Roosevelt's objective since last January has been a balanced budget. As 1937 Treasury revenue estimates were demonstrated last week to have been overly optimistic. Secretary Morgenthau began to avoid committing himself on balanced budget IN ose ts Certainty of new taxes and un-® certainty of stock market develop- anced budget is no more than fair, | ments combine to confuse and dom- | ynvhow inate the immediate political out- | look here, including prospects for Three Factors Involved the extraordinary session of Con-! It is gress which will convene Nov. 13 Ordered New Revenue President Roosevelt has stipulated new revenue to balance any new expenditures for farm relief. Budget experts now are looking for $100.000.000 or free money with the fiscal year ending June 30, 1933, | which to finance a corn loan against Could not be better demonstrated | falling prices. So far there is no in- | than recently when Secretary Mor | {

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dication that the money will be genthau was asked how the Treas. found. Unless it is discovered, the Ury's books would look on that date. corn Joan must be financed by new “I can’t see ow anyone can tell taxes, new borrowing or hy ecoao- that now,” he replied. mies President Roosevelt has been uni- | The national debt already is with- — in $50,600,000 of the $37.000.000.000 polit at which Mr. Roosevelt expects it to become stationary before a fall. To meet new revenue conditions stipulated by Mr. Roosevelt Congress will have to hike taxes if the New Deal's ever-normal granary bill is passed. It will cost around $£720.000,000. These new taxes probably will b2 indirect, so far as the public is concerned, and most likely in the form of processing taxes directly upon processors of farm commodities. Bui any tax bill is explosive business with primary campaigns and a Congressional election coming on. Unless taxes are levied to offset expected farm relief expenditures all chances of a balanced budget must vanish. The outlook for a bal-

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