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July 03, 1934 - Image 3

Resource type:
Text
Publication:
Michigan Daily, 1934-07-03

Disclaimer: Computer generated plain text may have errors. Read more about this.

THE MICHIGAN DAILY
Y- -

-Associated Press Photo
Charles Yates (left), .Georgia Tech junior, is shown receiving the
cup symbolic of the National Intercollegiate golf championship from
W. O. Leonard (center) chairman of the tournament held at Cleveland.
Ed White (right) of the University of Texas, runnerup, is shown with
his trophy.
Guest Repertory Director Is
Jack-Of-All-Trades Masters One

Governmental
Expenditures
Underestimated
Funds Not Spent In Last
12 Months To Be Used
For Relief, Recovery
WASHINGTON, July 2. - (/P) - In
the fiscal year just beginning, the
government can spend nearly ten bil-
lion dollars and still remain within
President Roosevelt's estimates of the
cost of whipping the depression.
It spent a peacetime record of $7,-
105,050,084.95 in the 1934 fiscal year
which closed Saturday night, piled up
an operating deficit of $3,989,496,-
035.42 and pushed the public debt up
to an all-time high of $27,053,141,-
414.48.
Even these huge sums were far be-
low Mr. Roosevelt's forecast of $10,-
569,006,967 of outlays in the old year
and a debt increase of $7,309,068,211
as compared with the actual boost of
$4,514,468,954.33.
Administration officials reasserted
that funds budgeted for the old and
new years together which were not
spent in the last 12 months will be
spent in the next - if necessary for
relief and recovery. This would mean:
Pushing the public debt upward to
$31,834,000,000.
Rolling up another deficit, proba-
bly nearer $5,000,000,000 than $4,000,-
000,000. The size would depend on
how much the present cash balance of
$2,581,922,240 is reduced and whether
any of the dollar profit on gold de-
valuation is used for current expenses.
Borrowing in excess of last year's
$4,514,000,000 - again depending on
use of the cash balance and whether
revenues equal the estimated $3,974,-
665,479.
These figures were indicated by the
President's own estimate that, exclud-
ing debt retirement, the government
would spend $6,529,804,667 in the 1934
and 1935 fiscal years which end on
June 30, 1935. Since these estimates,
votes in the last congress - especially
$525,000,000 for drouth relief - have
increased the two-year maximum to
17,500,000.000.
Most of the money in the new fiscal
year would go for emergency purposes.
Only $3,237,512,200 is counted for
routine costs. '
FERA Workers Go
On County Strike
FERA workers employed on various
welfare projects throughout Washte-
naw county struck yesterday as local
relief administrators refused to com-
ply with their demands.
The workers demanded restoration
of a recent cut in wages, a minimum
wage of 50 cents per hour, the removal
of the superintendent of construction
at the new county jail, Abram Fisher,
and abolition of forced labor at the
Ypsilanti State hospital.
FERA workers indicated that they
would not be represented at the regu-
lar weekly meeting of the relief com-
mission, but would hold a session of
their own.
The projects affected by the action
of the workers include the down-river
sewage and Burns Park jobs in addi-
tion to the county jail and State hos-
pital projects.

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Daily
Classified Ads
Pay
Call
2-1214

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