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Updated: June 2, 2025
A surplus in the Treasury created by loans is not a permanent or safe reliance. It will suffice while it lasts, but it can not last long while the outlays of the Government are greater than its receipts, as has been the case during the past two years.
But the outlays were so enormous that even this income was quite unavailing, and innumerable measures of extortion were adopted to meet the deficit. The king was so much gratified by the birth of a dauphin that for a time he became quite reconciled to his beautiful and haughty queen.
Only we may not in a financial point of view overlook the fact that, while the government during the two earlier thirds of this period executed splendid and magnificent buildings, it neglected to make other outlays at least as necessary.
Fourth, action is required to make more effective use of the large Federal expenditures for agriculture and to achieve greater fiscal control in this area. Outlays of the Department of Agriculture for the current fiscal year for the support of farm prices on a very few farm products will exceed five billion dollars.
He regarded any money which was in his hands already designated for, or appropriated to, a specific use, as not his to use, even temporarily, for any other ends. Thus, though he was often reduced to the lowest point of temporal supplies, he took no account of any such funds set apart for other outlays or due for other purposes.
De Witt had not yet given up "the great thoughts of heart" that the burning of Schelling had raised, nor had he dismissed his "resolution of revenge before any peace should be thought of." He was not without hope from the state of the English fleet; he knew well that the English Treasury was in no position to meet new outlays; and he counted upon the depression caused by pestilence and the Fire.
Thereupon, on January 30, the chief justice, John of Metingham, sitting in Westminster Hall, pronounced the clergy to be outlays. "Henceforth," he declared, "there shall be no justice meted out to a clerk in the court of the lord king, however atrocious be the injury from which he may have suffered.
It is seldom that a seaman cannot lay by a hundred dollars in a twelvemonth oftentimes I have earned double that amount, beyond my useful outlays and a hundred dollars a year, at the end of thirty years, would give such a man an independence for the rest of his days.
However, while restraint is essential to any appropriate economic policy, high inflation cannot be attributed solely to government spending. The growth in budget outlays has been more the result of economic factors than the cause of them. We are now in the early stages of economic recovery following a short recession.
Federal capital outlays for transportation facilities are expected to approximate 519 million dollars in the fiscal year 1947. State and local governments may spend 400 million dollars. Private investment, over half of it by railways, may approach 1,150 million dollars.
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