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No matter how honestly money may be acquired, one is not free to spend it at will. We are hedged about by certain restrictions that we can neither remove nor ignore. God has written certain laws in our nature laws that no legislature can repeal laws that no court can declare unconstitutional, and these laws limit us in our expenditures.
The expenditures were $152,362,116.70, an increase of about 9 per cent over the previous year, being thus $8,979,492.36 in excess of the current revenue.
Although these devices sometimes appear to give temporary relief, they almost invariably aggravate the evil in the end. It is only by retrenchment and reform by curtailing public and private expenditures, by paying our debts, and by reforming our banking system that we are to expect effectual relief, security for the future, and an enduring prosperity.
I have my evening service and talk silently with you, believing that at that hour you also do not forget your Louis, who thinks always of you. . .As soon as I know, for I cannot yet make an exact estimate, I will write you as nearly as possible what my expenses are likely to be. Sometimes there may be unlooked-for expenditures, as, for instance, six crowns for a matriculation paper.
The expenditures ascertained and estimated for the same period are $266,000,000, indicating an anticipated surplus at the close of the year of $90,000,000.
This system is a law of the Congress. It represents your will. It must be maintained, and ought to be strengthened by the example of your observance. Without a Budget System there can be no fixed responsibility and no constructive scientific economy. This great concentration of effort by the administration and Congress has brought the expenditures, exclusive of the self-supporting Post.
For seven years the people have borne with uncomplaining courage the tremendous burden of national and local taxation. These must both be reduced. The taxes of the Nation must be reduced now as much as prudence will permit, and expenditures must be reduced accordingly. High taxes reach everywhere and burden everybody. They gear most heavily upon the poor. They diminish industry and commerce.
They spend their salary money to buy prettier clothes and to live in beautiful surroundings, and they gauge their expenditures upon what they are earning from week to week. But girls I have known tell me that is the great trouble.
The possibility of further tax reductions must depend on the budgetary situation and the economic situation. The level of anticipated expenditures for the fiscal year 1947 and the volume of outstanding public debt require the maintenance of large revenues.
There is an annual appraisement by the waguk, and any needless decrease in the value of an estate is punished by breaking the offender's legs. Expenditures for luxuries and high living are, of course, approved, for it is universally known among us, and attested by many popular proverbs, that the pleasures of the rich are vain and disappointing.
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