Word: budgeting
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With the Navy League growling behind him and jingoes in Congress snarling ahead, President Hoover last week whipped his Navy budget into final shape. Its total: $343,000,000. (This year's expenditure: $360,000,000.) Secretary Adams had first carried to the White House naval estimates totaling $401,000,000. Where and how the President proposed to effect $17,000,000 economies remained a secret which, as a matter of governmental courtesy, he had to save for Congress next month...
...This budget does not decrease the personnel of the Navy 'below its present status [79,700 men] by a single man. It does not decommission any fighting ships although the rotation plan will be continued. It does not propose to abandon any of the Navy Yards. . . . The budget provides for ... the frigate Constitution and . . . the Navy bands...
Prime item of interest in the Hoover budget was new construction. This was fixed by the President at $57,000,000, as compared with $53,000,000 this year, $38,000,000 the year before. Declared President Hoover: "The budget provides for the continued construction of every one of the treaty ships authorized by Congress, except six destroyers. . . . The tonnage of combatant ships actually in construction by the United States today is nearly double that of Great Britain...
...Studied preliminary budget plans laid before the Chamber by peppery Budget Minister Francois Pietri who thinks he can balance expenditures and receipts from April 1 until Dec. 31, 1932 at 41 billion francs...
...monocle of his Peace-Prizing halfbrother, Sir Austen, nor the blatant orchid boutonniere of their late, great father "Old Joe." Neville used to be Lord Mayor of Birmingham, the Chamberlain family bailiwick. Once before he was Chancellor of the Exchequer but so briefly that he never brought in a budget (TIME, April 13). Recently, as Conservative campaign strategist, he rolled up the greatest party ma- jority in British history, won his right to demand the Exchequer as his Cabinet plum. Prime Minister MacDonald, a life-long free trader, knows that Chancellor Chamberlain will buckle a tariff belt of some sort...