(3 of 3)
budget
(see below); $400,000,000 from the regular payment into the Public Debt
Sinking Fund. ¶ His "capital" budget, to be raised by special
borrowing, will include: $3,300,000,000 for public works;
$500,000,000 for direct jobless relief, $400,000,000 to start the bank
deposit guarantee fund. Domestic Allotment farm relief, home and farm
mortgage relief, etc. Special taxes have been segregated to service
this special budget. ¶ During fiscal 1933 the Public Debt increased
$3,051,000,000 to $22,539,000,000 —high point since 1922.
The incease in the Public Debt was caused by the deficit plus
$1,258,000,000 advanced by the Treasury to Reconstruction Finance Corp.
When Franklin Roosevelt promised in the campaign to cut costs 25%
Republicans hooted him as a jester. Last week there was not a single
Federal employe who did not realize that the President was and is in
deadly earnest.
*But air business zoomed.
