Speech #640245756

Of course. of that amount $279.000.000 is the actual hole there will be in the Treasury. but the law requires another hundred million dollars to be In. the Treasury. and that brings It up to $379000j000. that does not Include any pyublicbuildings bill at all Here I extend my remarks. by insertion of the statement in full. which reads. as foliows: Dacrnsn. 31. 1916. Secretary McAdoo said: . I " The problem before the Treasury Is this: The preparedness pro. gram adopted by the Congress at the last session. including the estimated disbursements for the Mexican border patrol. involves an estimated expenditure of $683.918.000 for the fiscal years 1917 and 1918. in addition to the regular appropriations for the Army and Navy Establishments. There will be no deficit in the Treasury for the fiscal year 1917. and the impending deficit for the fiscal year 191:8 is due solely to the great outlays that are being made by the Government for preparedness and for patrolling. the Mexican border. " Upon the basis of existing revenue laws the estimated deficit in the Treasury June 30. 1918. is In round numbers $279.000.000. To this must be added $00.00d.000 for a necessary working balance in the Treasury.