Word: budgeting
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...plea was a simple homespun one? the Budget must be balanced: no matter what kind of taxes had to be imposed. As for the Sales Tax, he was opposed to that but he would levy it "or any other kind" to balance the Budget. His face grew red and his voice sharp as he told his colleagues that it was their ''paramount duty" to supply revenue to maintain the Government's financial integrity. If the Budget was not balanced, he warned, foreigners would withdraw their deposits from the U. S., the dollar would be driven off the gold standard, every...
...dramatic touch suggestive of religious revivals in the deep country, Speaker Garner called on all those "willing to go along to try to balance the Budget" to rise. To their feet came all but a dozen sulky members. When he called for "those who do not want to balance the Budget," not a man got up. "I think," declared Speaker Garner triumphantly, "that ought to restore to the American people confidence in our country. ... I think more of my country than I do of any theory of taxation and the country is in a condition where the worst taxes...
...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...