My Budget Message on January 17, the Economic Report on the 20th of this month, and several special messages will set forth in detail major programs to foster the growth of our economy and to protect the integrity of the people's money. Today I shall discuss these programs only in general terms. Government efficiency and economy remain essential to steady progress toward a balanced budget.
He had brought offerings of eggs and feathers to Lady Rosamond, and pockets full of curiosities for all his village friends; also, he had been at the Cape, had seen Glen Fraser, rejoiced the inhabitants with his accounts of Anne, and brought home a delightful budget for her. But the special cause of his radiance was a letter he brought from his father to Mr. Bindon.
The literary budget for each week was completed by selections from the general contribution box, a very large one, which was fastened to the outer door of the rooms of the club. Into this box every man, woman and child was invited to drop such written scraps, signed or unsigned, brief or lengthy, as they might be moved to offer for publication. The selections from this box were eagerly read.
In New Zealand old age pensions were in force long before they were introduced into the mother-country; and compulsory arbitration in industrial disputes, payment of M.P.'s, and powers of local option and prohibition have been for years in operation. Both the Dominion and the Commonwealth levy taxes on land far exceeding those imposed by the British budget of 1909.
And how do we know that bowget was not pronounced boodget, as it would be, according to Mr. White, if spelt budget? Bishop Hall makes fool rhyme with cowl. That ou was sometimes pronounced oo is certain. Mr. White supposes that ea was sounded like ee. We are inclined to question it, and to think that here again the French element in our language has made confusion.
In order to fill up the gaps in the budget, the Government has recourse to borrowing, sometimes openly, by a loan from the house of Rothschild, sometimes secretly, by an issue of stock. In 1857 the Pontifical Government contracted its eleventh loan with Rothschild's house; it was a trifle, something under £700,000.
America is ready. Since we really mean it, and since we're serious about being ready to meet our challenge, we're getting our own house in order. We have made real progress. Seven years ago, the Federal deficit was 6 percent of our gross national product, 6 percent. In the new budget I sent up two days ago the deficit is down to 1 percent of GNP. That budget brings Federal spending under control.
Quoted by Radio Free Europe/Radio Liberty, Sandor Richter, a senior researcher with the Vienna Institute for International Economic Studies, concluded that the first intake of applicants will end up underwriting at least $410 million of the EU's budget in the first year of membership alone.
The proportions to be spent for the larger items hold true in general for the family whose income is between $2000 and $3000 a year. Without knowing your individual circumstances, however, no one can make a budget for you in minute detail. The amounts you should allot to various items are governed by many considerations.
I am as anxious as any banker or industrialist or business man or investor or economist that the budget of the United States Government be brought into balance as quickly as possible. But I lay down certain conditions which seem reasonable and which I believe all should accept.