For 1925-26

BUDGET

The President sent to Congress the budget estimates for the fiscal year of 1926 (July, 1925--June, 1926) with the usual message explaining and amplifying the recommendations. Said he: "We have before us an estimated surplus of $67,000,000 for the next fiscal year. If we continue the campaign for economy, we will pave the way for further reduction in taxes. This reduction cannot be effected immediately. Before it is undertaken, we should know more definitely by actual operation what our revenues will be under our present tax law." The estimates of expenditures for 1926 as compared with the present fiscal year of 1925 are: Public debt (inter-1926 1925 est). . . . . . . . . . . . . . . . . . . . . . . . . . . . . $830,000,000 $865,000,000 Public Debt (reduction of principal) 484,000,000 471,000,000 Post Office Dept. . . . . . . . . . . . . . . . . . 637,000,000 613,000,000 War Department . . . . . . . . . . . . . . . . . 338,000,000 347,000,000 Navy Department. . . . . . . . . . . . . . . . . 289,000,000 313,000,000 Interior Department. . . . . . . . . . . . . . .267,000,000 294,000,000 Treasury Dept.. . . . . . . . . . . . . . . . . . . 163,000,000 180,000,000 Agriculture Dept.. . . . . . . . . . . .. . . . . . 140,000,000 78,000,000 Commerce Dept. . . . . . . . . . . . . . . . . . . 22,000,000 25,000,000 Justice Dept.. . . . . . . . . . . . . . . . . . . . . . 24,000,000 22,000,000 State Dept.. . . . . . . . . . . . . . . . . . . . . . . . 16,000,000 16,000,000 Labor Dept.. . . . . . . . . . . . . . . . . . . . . . . . . 8,000,000 8,000,000 Veteran Bureau. . . . . . . . . . . . . . . . . . . .405,000,000 484,000,000 Shipping Board. . . . . . . . . . . . . . . . . . .. . . 24,000,000 30,000,000 Interstate Commerce Commission. . . . 4,000,000 4,000,000 Tariff Commission. . . . . . . . . . . . . . . . . . . . . .721,000 683,000 Federal Trade Commission. . . . . . . . . . . . . . 950,000 1,000,000 Vocational Education Board. . . . . . . . . . . . 8,000,000 7,000,000 White House Executive Offices. . . . . . . . . . 439,000 441,000 Senate. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2,000,000 2,000,000 House. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000,000 6,000,000 District of Columbia. . . . . . . . . . . . . . . . . . . 32,000,000 30,000,000