Word: budgeting
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...Watson flayed President Roosevelt for abandoning the gold standard, for trifling with the currency, for scaring off private credit, for unleashing a Blue Eagle "boycott," for concealing Budget deficits by "double bookkeeping." Cried...
Japanese affectionately call 78-year-old Finance Minister Korekiyo Takahashi "Daruma" after the pot-bellied Buddhist sage, symbol of good luck. Just now he is carrying on with the most colossal and appallingly unbalanced budget in Japanese history. Since Japan quit the gold standard (TIME, Dec. 21, 1931) her yen has fallen to 36% of its par gold value but there has been no monetary inflation, no starting of the Japanese Treasury's printing presses. Last week Mr. Takahashi, who in his youth indentured himself to an Oakland, Calif, farmer to work for three years for a total wage...
...Committeeman for Arizona. At Bisbee, Phelps Dodge copper mining centre, the Review and the Evening Ore are both controlled by Cochise Publishing Co., a Phelps Dodge subsidiary. At nearby Douglas-named for Dr. James Douglas, who discovered the Copper Queen mine and whose grandson is President Roosevelt's Budget Director Lewis Douglas-the Daily Dispatch is independent but fully as conservative as its rivals...
While this method of bookkeeping is open to criticism, there is no doubt that Lew Douglas some day will be able to keep the normal budget from being increased by protesting against any transfers back to the operating budget of items that the public will insist shall not be continued. If the people, for example, demand the abolition of the emergency budget, there will be a scramble to get in once more on the regular budget. Since the latter will have been brought to a low point during the depression and since a demand for tax reduction is inevitable...
...emergency budget and the regular budget will mean a $4,000,000,000 deficit for the fiscal year ending next June. The effort is to cut that deficit down materially by trying to avoid the same amount of emergency expenditures in the fiscal year ending in June, 1935. Announcement of the estimated emergency budget will be made around the first of the year, but Congress will have the final say as to its size...