Indianapolis Times, Indianapolis, Marion County, 12 May 1938 — Page 5

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Peacetime Spending Record Expected; Southerners Shift Wage Bill Strategy

REA Grant Increased Vote on Navy Bill Due Today.

(Continued from Page One)

more than twenty-seven billion

dollars. Budget Balance Plans Dropped

Reduction in appropriations last vear by one billion dollars under 1935 were in line with the Roosevelt Administration's economy prosram. Mr. Roosevelt had determined to reduce the cost of Gov-

| lenging a provision designed to enable debt-ridden states and cities to obtain public works projects despite statutory limitations.

REA Fund Increased

| Rep. Dirksen criticized a section | allowing communities which have exhausted statutory debt limitations to enter “agreements” with the Federal Government similar to | lease-purchase contracts. The | state or city would agree to repay 55 per cent of the cost of the project, plus interest, in 25 years. The House rejected, 29 to 64, an

amendment by Rep. Marvin Jones |

, (D. Tex.) earmarking 2 million dol(lars of Farm Security funds for

the present “escalator” provision for

three years. The initial standards

hours.

An immediate 40-40

Tax Bill Sent To White House

| WASHINGTON, May 12 (U. P). | Congress sent the Administration’s

| $5,330,000,000 tax revision bill to the |:

ernment and expected to make his payment to needy farmers in eX- | white House today for President

biggest savings in relief by ending Fublic Works Administration opera-

tion and easing off on Works Prog- |

ress Administration spending as private industry absorbed the relief load. These plans were upset by depression which from August through December skidded business into the most abrupt decline in American history. Secretary of Treasury Morgenthaws plan to trim 700 million dollars out of relief and agricultural appropriations to balance the budget in the next fiscal year were abandoned The Reconstruction Finance Corp. closed in expectation of steadily reviving business, and PWA were revived far emergency operation. On April 14 Mr. Roosevelt revealed that he had decided to lend and spend In a new pumppriming campaign. The brightest side of the Treasury picture is that tax receipts have not fallen off so sharply as has business turnover. Higher rates

continue to pour tremendous sums |

into Washington, although considerably less than the Treasury had anticipated on the basis tained active business ‘conditions. Some observers believe the darkest side of the picture is shown by the comparison of expenditures this year with last.

Deficit Below Last Year's

of sus- |

treme drought areas for cover crops {ana approved soil practices. Before the House met the Appro{priations Committee approved an [amendment to add $60,000,000 to the [bill by authorizing the Reconstruc[tion Finance Corp. to lend that (amount to the Rural Electrification | Administration. {| Chairman Clifton A. Woodrum (D. [ Va.) of the House Appropriations Deficiency subcommittee, floor manager { for the bill, said that it would “go | through with scarcely a ripple.” House Republicans are virtually [ solid behind the proposal to decen- | tralize relief.

‘Republicans May Aid | South in Wage Fight

By HERBERT LITTLE Times Special Writer WASHINGTON, May 12-—The | Jatest strategy of Southern opponents of the wage-hour bill is to kill [it with kindness—by pushing amendments to make the bill so | drastic as to alienate many of its | present supporters. Republican aid for this maneuver

|is expected on the theory that the |

| minority party doesn't want the Ad- { ministration to get credit for passing the bill. Republican members | could vote for amendments which | would make the bill virtually imposible of final enactment, and then

Minton Says Dr. Frank ‘May Have to Explain

| WASHINGTON, May 12 (U. P). |!

Navy Bill Faces

So Tar in this fiscal year, which ote for the bill on the final roll Final Senate Test

has slightly more than six weeks remaining, tax receipts have aggrepated $5,294,318,293, which is approximately one billion dollars more than was collected in the comparable period of the last fiscal year. Government expenditures, however, have maintained a fairly even pace

At this time a year ago the cost of |

government amounted to $6.,465.176.646 and the net fiscal year deficit had reached $2,145038,191. The latest Treasury statement shows that so far mn this fiscal vear Government has ‘cost $6.576.543.509 but the increased tax receipt income of the Treasury has held the deficit to £1.223993.2365. The national debt $37.,478.323.853 ‘compared

tadax

with $35.033,469.413 a Year ago. In

one respect the Treasury is much better off. Its working balance of

call, which would clear their record

for campaign purposes. Democratic friends of the bill are rallying to defeat all amendments, including even some possibly helpful ones, in the House. | necessary changes can be made in

| the Senate-House Conference Com- |

mittee later.

One of the Southem

ments, already prepared. would im- | pose the 40-cents-an-hour wage and | the 40-hour week at once dropping!

They think |

amend-

WASHINGTON, May 12 (U. P)— | President Roosevelt's $1,090,000,000 {naval expansion program, designed

| Pa

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cash on hand today is $2.238,836.465 |

compared with $592.148.297 a Year ago Some of the Republican opposition insists that the Treasury trend is foward national bankruptcy. That

question and the issue of spending |

will figure largely in the election campaigns. Mr out of gear

He probably will pub-

general |

Roosevelt's budget already is |

lish new estimates soon in substitu- |

tion for the figures of last Januvary when he budgsted for a deficit of

only $1,088,100,000 in this fiscal year | and $949600,000 in the fiscal year |

1940. A little more than a year ago Mr. Roosevelt was hopeful of a balanced budget this year and thereafter. Republicans assert now that the deficit In the next fiscal year

beginning July 1 next, will be nearer | five billion dollars than 949 million. |

A five billion-dollar deficit would establish a New Deal record, exceeding by almost 700 million dollars the record figure of 1936.

Recovery Bill Passage Sought Today

WASHINGTON, May 12 (U

P).|

House leaders launched a drive for | passage of President Roosevelt's re-| lef-recovery bill before adjournment | today and prepared to hold a night |

session, if necessary, to obtain approval of the huge lending-spending program : The leadership plan was announced by House Majority Leader Sam Rayburn in the face of a slashing Republican attack on major provisions of the $3.054,425,000 recovery bill The bill was being read for amendments today and Republicans had a series of proposals to place

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test in the Senate today. Chairman David I. Walsh (D. Mass.) of the Senate Naval Affairs Committee, will call up the confer-

and ALL

THE INDIANAPOLIS TIMES to give the United States its larg- | the House late yesterday. He was | President Roosevelt plans to ask est Navy in history, faced its final | confident it would be passed quickly | Congress for additional funds to be-

and sent to the White House for the

President's signature within a few |yea

days. As the Senate received the con-

ence report which was approved by |Yerence report, it was reported that

SUPER-VALUES

Tomorrow FRIDAY..

FRIDAY NITE till 9 o'clock SATURDAY

DAY

bin new naval construction this

Tr. Although there were no indica- | Hons from the White House to ver= ify the rumors, it was reported that

AT THE VICTOR

the request would be submitted before adjournment. Such a request would be supplemental to the regu-

lar 546 million dollar Naval Department Supply Bill for the 1939 fiscal year which already has been approved.

_ THURSDAY, MAY 12, 1938

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