Corsicana Semi-Weekly Light from Corsicana, Texas • Page 4

FOUR THE CORSICANA SEMI-WEEKLY LIGHT, TUESDAY, JANUARY 22, 1946. FARM PAYMENTS, BUDGET SLASH RECOMMENDED NO INCREASE TO BE MADE IN NATIONAL DEBT THIS YEAR TRUMAN SUBMITS FIRST PLAN TO CUT DOWN DEBT IN 17 YEARS By WILLIAM A. KINNEY WASHINGTON, Jan. President Truman presented a $35,860,000,000 Federal budget to congress todny with his assurance that for the first time In 17 years no increase in the national debt will take place. Military expenditures and the aftermath of war account for almost three fourths of the budget total.

The president estimated that the government will raise $31,513,000,000 toward meeting the bill for the fiscal year beginning July 1, thus leaving a deficit of $4,347,000,000. The deficit, however, will be taken care of, he said, "by a reduction in the very substantial balance which will be in the treasury during the next fiscal year." In fact the debt Itself will be pared from its present $278,000,000,000 to $271.000,000,000 18 months hence. Present Taxes Uphold Mr. Truman, however, called for taxes to be held at present levels. Salient features of the 1947 budget: 1.

National defense, occupation and war liquidation will cost $15,000,000,000, Including $1,200,000,000 for UNRRA. 2. Veterans' pensions and benefits are pet down for 3. $5,000,000,000 is earmarked for servicing the war-swollen national debt. 4.

Provision is made for continued work in the field of atomic energy, but this is a secret Item and the funds involved were not disclosed. 5. International financial programs will require $2,754,000,000. These include the Bretton Woods agreements, export-import bank operations and expenditures arising from the proposed loan of $3,750,000,000 to Britain. 6.

General government running SUMMARY OF 1946 U. S. BUDGET WASHINGTON, Jan. A tabular summary of President Truman's financial budget, with comparative figures for the 1946 and 1940 fiscal years, follows; Receipts Gen and Special Accounts: Estimated, 1947 Estimated, 1946 Actual, 1945 Ulroct taxes on individuals $12,874,200,000 $19,788,893,624 Direct taxrf on 8,191,600,000 12,393,600,000 16,399,031,961 fixclHc taxes 6,343,890,000 8,302,490,000 5,934,575,068 Employment taxes 1,856,500,000 1,581,300,000 1,792,700,136 Customs 433,700,000 413,200,000 Miscellaneous receipts 3,238,622,700 3,171,167,952 3,469,548,007 '1 )tal Receipts 32,938,512,700 39,706,557,952 47,739,524,339 RIGHT, AS WELL AS MIGHT MUST BE OUR GOAL, SAYS TRUMAN FOREIGN POLICY IS LAID DOWN; IDEALS TO BE PROTECTED OF SUBSIDIES ON FOOD PRODUCTS URGED AS MEANS OF COMBATTING U. S.

INFLATION Deduct net appropriation to federal old-age and survivors Insurant trust fund 1,425,810,000 1,097,730,000 Net itcoipts 'rased on existing and proposed .81,812,702,700 38,608,827,952 Expenditures National defer se (tentative estimate t-tr 1947) (See also government corporations bcicra $16,000,000,000 Interest on public debt 5,000,000,000 4,750,000,000 1,585,007,000 2,715,618,000 4,207,779,400 3,346,815,000 International finance (based on existing and proposed 'See also government corporations below) 1,754,000,000 By ALK.X SINGLETON WASHINGTON, Jan. President Truman today laid down 1 an Americnn foreign policy to pre- I serva peace on the basis of "jus- 1,282,969,759 tlce no less than upon power" but jhe served firm notice that this 46,456,544,579 country will refuse to sacrifica "Its ideals or its vital Interests" when difficulties arise among the United Nations. Citing lOifi as the "year of decision" for ihe gigantic problems perplexing the world, Mr. Truman told congress that "the whole power and will and wisdom" of this nation must he milled "to contribute to and Influence International ac- $90,029,145,512 3,616,686,048 1,714,880,287 2,043,872,734 Aids to apiiculture 501.496,100 2,512.500,000 466,238,938 tlon." UNO Body Landed. SOCIAL SECURITY, BELIEF, AND RETIREMENT: Social Security program 593.639,200 538,480,000 476,365,111 Work relief 7,100,000 12,330,500 Retirement funds 453,312,000 606,567,600 GENERAL PUBLIC WORKS PROGRAM: He saw In the first general assembly of the United Nations "the real beginning of our bold adventure toward the preservation of world peace, to which Is bound the dearest hope of men." But the Chief Executive emphasized that formation of the new international organization constitutes only i "minimum essential Highways and airports Rivers and harbors Floou control and reclamation (including Veterans Housing Other gen.

public 316,606,000 110,120,000 408,581,500 130,000,000 90,000,000 27,598,500 145,486,000 79,620,000 308,388,800 55,000,000 100,000,000 52,545,900 11.1.1:.^ .1 enauiiiiiii beginning" toward that goal. And GENERAL GOVERNMENT: 4,640,335 505,579,500 41,698,418 55,789,374 161,518,328 15,799,142 olC shrdlu shrdlu "Our ultimate security," he said, 15,779,308 "requires more than a process of consultation and compromise. It By OVID A. MARTIN. WASHINGTON, President Truman Jan called on congress today to retain food subsidies as one means of inflation and a possible 7 per cent Jump In the coat of living index for food.

This request, made in the chief executive's state of the union and Midget message, represents an about-face by the administration on subsidies. It had planned to end most of them by their June 30 expiration date. Started early in the war to koen food prices stable, the subsidies have been costing the government $1,750,000,000 a year. Said Inflation Cure. Mr.

Truman said that unless the subsidies are continued 'it would become extremely difficult for us to control the forces of More specifically, he estimattd Lhat withdrawal of the subsidies would force increases of from three to five cents a pound in average prices of meat; at leart 12 cents a pound for butter, in addition to a five cent Increase aDovr- last fall; one to two cents a juart for milk; one cent a loaf or bread, more than a cent a pound for uugar, and eight nents a pound for cheese, in addition to scheduled increase of four cents on Feb. 1. The president also asked the he said economic collaboration mu.it he carried on as carefully and asl nd with funds already permit the agri- department to spend about Legislative branch 36,603,600 The Judiciary 16,556,400 Exec jtive office of President 5,123,100 Civ.l Dvpts. 1,500,450,089 Post Office Ucf-t. (Gen.

Fund 9,154 District of Columbia (Federal contribjtion) 6,000,000 Expenditures from anticipated supplemental appropriations 875,000,000 expenses are estimated at Expenditures based on pro- 000,000 exclusive of Army and Na agricultural aids, public works and social security payments. 7. More than $2,000,000,000 Is Included for aids to agriculture posed legislation (excluding International finance) 1,500,000,000 Statutory public debt re- tliement and for the Commodity Credit Cor- Total expenditures (based on poratlon, largely for price stablllza-1 existing and proposed leg- tlon and price support Islat on 35,124,982,043 35,873,000 14,485,600 3,187,000 1,244,642,797 6,000,000 1,350,000,000 250,000,000 28,893,273 13,006,336 2,449,629 1,069,652,796 6,000,000 requires that we begin now to develop the United Nations Organization as the representative of the world as one society." Smaller Nations Encouraged. To the smaller nations, Mr. Truman pledged United States support to see that they have a voice in in- farm and for foreign relief operations during the fiscal year beginning July 1.

IBJS Cost The depaitmont's expenditures for similar activities during the current fiscn.1 year were estimated at $2,992,000.000. In requesting extension of the subsidy program, Mr. Truman said food prices ilnce V-J Day have failed to follow the pattern the government had expected. ternatlonal councils and a hand In Saying they have been expected making the peace treaties Germany and Japan. with Once again he outlined the 12- to drop 3 to 5 per cent by this time, Mr.

Truman added that this anticipated decline would have point foreign policy of the United i permitted the gradual elimination 2,000 from the war Pood production pro- 67,393,679,135 gram. TRUMAN CONTINUED FROM FTRST PAGE wage structure" the "most serious difficulty" In the path of reconver- sion and expansion, adding: Kxccss of expenditures 3,612,279,343 28,784,551,183 100,404,598,685 53,948,042,105 CHECKING ACCOUNTS OF GOVERNMENT CORPORATIONS AND CREDIT AGENCIES WITH THE TREASURER OF THE UNITED STATES Net expenditures from check ing accoimts (based on existing legislation) He said labor and management Nationa defense "better humnn re- Imei national finance 1,000,000,000 Redemption of in the marl, et 67,000,000 73. ,,000,000 must establish latlonshlps." "Government Can Assist' "The government can, however, Othrr activities help to develop machinery Net experdiUies (based on with the backing of public opinion, will assist labor and management to resolve their disagreements in a peaceful manner and reduce the number and duration of strikes," he said. Mr. Truman said most industries and most companies "have nde- 200,000,000 101,000,000 230,000,000 472,033,180 X164.811! I 1,552,733,547 existing 802,000,000 65,000,000 1,178,383,134 EFFECT OF OPERATIONS ON THE PUBLIC DEBT: Puulic aebt at beginning of yenr 275,000,000,000 Increase in public debt dur- inR your: quate leeway within which to grant! Genelal 'I' ccial accounts substantial wage increases.

Mr. Truman said further: "If we manage our economy properly, the future will see us on level of production half again as high as anything we hnvc ever accomplished in peacetime. Business can In the future pay higher wages and sell for lower prices than ever before. This Is not true now for all companies, nor will of expenditures over receipts Checking of government coiporations and credit agencies, net expenditures Trust accounts, excess of expenditures over receipts Statutory public debt re- 201,003,387,221 53,948,042,105 802,000,000 273,434,140 65,000,000 251,999,518 tlrement It ever be true for ali, but for bus- Adjustment tor change In Iness generally it is true." titasurj cnsh balance West, South Need Development Increase In public debt during year 16,317,812,590 Public debt it end of year. .271,000,000,000 275,000,000,000 (x', -Excess of credits, deduct In promoting an increase in sup-1 piles at low unit prices, he said development of resources and enterprises must be developed all ov er the country, particularly in undeveloped areas of the West and South.

In the military field, Mr. Tru- strength of 2,000,000 men for this 1,178,363,134 I 57,678,800,188 258,682,187,409 calendar year and said continuance of the draft beyond Its explr- necessary replacements of those 3S5V GLASSES Protect Your Eyes Ifour are yout most valuable lesilon. Are you giving them the care the; deserve? COME IN TODAT? FOB YOUB EXAMINATION. GLASSES PROPERLY FITTED IN NEW STYLE MOUNTING OB FRAME. G.

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M. demobilized. Augmenting his earlier foreign policy statements, he asserted American peace policy must rest "upon justice no less than upon power." He urged tho greatest dispatch" In the world of the United Nations commission to control atomic enenjy and expressed "great hope" for development of "mutually effective safeguards" in such control. He said he also believed It possible that the atomic bomb will bo outlawed ns war weapon. Problems Siild Noglc-ctcd He anld that foi tho Immediate future the business prospects "are generally so favorable that there is danger of such feverish and opportunistic activity that our grave postwar problems may be neglected." Domestically, he industrial peace will have to be achieved through collective bargaining "with government assistance but not government compulsion." "Private capital and private management," he asserted, "are entitled to adequate reward for efficiency, but business must rec- that Its reward results from tho employment of the resources of the nation.

Business Is a public trust and must adhere to national standards in the conduct of Its affairs. FEI'C IS Favored "These standards Include as a minimum the establishment of fair wages and fair employment practices." "We have won a great the nations of plnln people who hate war," he declared. "In the test of that war we found a strength of unity that brought us through--a strength that crushed the power of those who sought by force to deny our fnlth In the dignity of man. "During this trial the voices of disunity among us were silent or were subdued to an occasional whine that warned us. Those voices wore atlll among us.

Those voices are beginning to cry aloud again. We must learn constantly to turn deaf cars to them. They are voices which foster fear and suspicion and Intolerance anil hate." Elaborating on foreign policy, the president snid: Foreign Policy Outlined 1. When difficulties arise between the wartime Allies the United States will not trv to remove them by sacrificing Its ideals or vital interests; neithar will It lg- nors UM and vital States which he first presented last October 27 In New York. At that time he renounced for this country any territorial expansion or selfish advantage and supported the eventual return of sovereign rights and self government to all peoples.

Acknowledging that the allied control council In Germany "has not mot with unqualified success," he added that it has made "encouraging progress In the face of most serious difficulties." He said he intended "at the earliest practicable date" to transfer control of American-occupied territory from military to civilian personnel. Armament Output Destroyed. He told congress that "In order that neither Germany nor Japan will again be In a position to wage aggressive warfare the armament making potential of these countries is being dismantled and fundamental changes in their social and political structures are being effected." In Mr. Truman went on. the United States "with the full approval of its partners, retained primary authority and primary responsibility.

It will continue to do so until the Japanese people, by their own freely expressed choice choose their own form of government." "Our basic policy In the Far East," he said, "Is to encourage the development of a strong, independent, united and democratic China." Similarly, he said again that the United States Intends to speed as rapidly as possible the restoration of the sovereignty of Korea. "We shall continue our efforts," he said, "to provide relief from the devastation of war, to alleviate the sufferings of displaced persons to assist in reconstruction and development, and to promote the expansion of world trade." "of our friends." 2. The United States intends to preserve the voice of smaller na- tioi.s in the writing of peace treaties with Germany and Japan, as he said It Insisted their voice be preserved In the making of peace treaties with Italy, Rumania, Bulgaria, Hungary and Finland. 3. "The peace we seek -Is not puace for twenty is a permanent peace." Even the support of the strongest nations canm't guarantee a peace unless It IK "Infused with the quality of justice for all nations." Gorman Control Praised 5.

The Allied control council for Germany has made "encouraging progress in the face of most serious difficulties." Transfer from military to civilian personnel of American participation in the government of occupied territory In Europe will be at the "earliest practicable date." 6. In the new pattern of Allied control for Japan, the United States, with the "full approval of its partners," has retained primary authority and responsibility. It will continue to do so until the Japanese people choose their own form of government. 7. General George C.

Marshall, special envoy to China, Is "ably executing" the policy of supporting off- rts to bring about a cessation of Chinese civil strife and in broadening the basis of representation In the central government. The president repeated that de- moholix.atlon is proceeding as quickly as possible consistent with military needs. The president renewed requests for action by congress on 21 pieces of legislation, including measures to raise minimum wages, to extend price and rent controls a full year beyond June 30, and to extend priority and controls of tho second war power, act beyond it June 30 expiration date. He also asked again for legislation to provide ceiling prices for old nnd now houses, universal military training, and merger of the armed services and said food nub- sidles xhould be continued. Terming Inflation "still our chief worry," Mr.

Truman said that because of its "dangerously powerful' 1 pressures and because future governmental costs call for large revenues he cannot recommend any further tax reduction now. of food subsidies by June 30 without raising over-all food coats. The president suggested that congress set certain limits on subsidies and require their elimination "as soon as it is indicated that the cost of living will decline below present levels." Good Yenr Ahead. Mr. Truman expressed confi- dence that agriculture faces another year or two of strong dn- mand and good prices for Its oat- put.

The chief execuHve recommended a permanent school lunch program operating with federal financial aid. He called attention to the fact that the sugar conrol act of 1937 expires this year. This act is designed to stabilize prices and tu divide the American market among various domestic, territorial and foreign producing areas. Proposed agriculture next fiscal expenditures of department for the year compared with those for the current year Include: For regular activities of the department, including soil conserva- t'on payments to farmers, regulatory and research and $676,000,000. UNRBA Buys Food.

For purchase of food for the United Nations Relief and Rehabilitation Administration and for commitments under the lend-lease program before It was terminated and $1,300,000,000. For food subsidies and farm price support $750,000,000. During the current year, roughly $1,000,000,000 In food subsidies were paid by the Reconstruction Finance Corporation. The RFC subsidies are being transferred to the agriculture department. For Rusal Electrification Administration loans to low income $351,000,000 and $286,000,500, DOMESTIC CONTINUED FROM FIRST PAGE that they atop If the cost of living declines below present levels.

creating a permanent housing agency. Here are the 21 measures Mr. Truman listed by numbers: 1--A law to give fact finding baords greater powers in labor disputes. "full employment" bill such as that passed by senate. unemployment Insurance benefits.

Wants Permanent FEPC. permanent Fair Employment Practicp Committee. the statutory minimum wage from 40 to 65 cents an hour now, to 70 cents after one year, and to 75 cents after two years. scientific research agency. health and pre-pald medical care program.

military training. federal salaries. succession legislation. of the armed services. Atomic Energy Law.

law to cover domestic use and control of atomic energy. of federal control over the U. S. Employment Service at least until June 30, 1947. onemployment lowances for veterans.

al- Security coverage for veterans for their term of military service. of crop Insurance, Would Sell Ships. to sell surplus merchant ships and to charter vessels both here and abroad. of strategic materials. airport legislation.

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