National Budget

A national budget system, which engineers have long regarded as essential to the proper conduct of our fiscal affairs is at last being seriously considered by. Congress and seems likely to be adopted in some form. Several, bills and joint resolutions have already- been introduced but the measure that seems how to attract the 'most attention is H. R. 1201 introduced by. Representative Good, Chairman of the House Committee on Appropriations. This ,bill provides for the creation of a Bureau of the Budget in the office of the President, to which full information shall be furnished by all Departments and other Governmental agencies concerning powers, duties, financial transactions, business method's, etc. A change, is made in the fiscal regulations in that the Departments shall hereafter submit their fiscal estimates to the President instead of to the Secretary of the Treasury, while the latter official shall submit estimates of the public revenues and the condition of the Treasury. Two budgets are, provided for:, The first, or regular, budget shall contain a balanced statement of the resources and liabilities of the Government and the revenues and expenditures, actual or estimated as the case may be, for the preceding, current, and ensuing fiscal years. The President is further, authorized to submit his recommendations as' to how the heeds of the Government should be met, and such further data regarding the financial affairs of the, Government as he deems proper. The second or alternative budget shall make known the essential facts regarding the condition of the Treasury and what, in the opinion of the President. are the revenue, and expenditure needs for the ensuing fiscal year, to be prepared in such form as the President shall deem most appropriate. The bill' abolishes-the offices. of Comptroller of the Treasury and all -the Auditors for the several Departments, and substitutes therefore an Accounting Department, an establishment independent of the Executive Departments, under the direction of newly created officer to be known as the "Comptroller General of the United States" whose powers shall comprise all those now conferred on the Comptroller of the Treasury and the several Auditors and, in addition thereto, the investigation at the seat of Government or elsewhere of all matters relating to the receipt or disbursement of public funds, concerning which report shall be made to Congress at the beginning of each regular session, containing recommendations concerning the legislation deemed necessary to the accurate rendition and settlement of accounts.