APPROPRIATION BILL FOR 1939 HEARINGS BEFORE THE SUBCOMMITTEE OF THE COMMITTEE ON APPROPRIATIONS AngusHOUSE OF REPRESENTATIVES SEVENTY-FIFTH CONGRESS THIRD SESSION ON THE TREASURY DEPARTMENT APPROPRIATION BILL FOR 1939 Printed for the use of the Committee on Appropriations UNITED STATES WASHINGTON: 1938 CLARENCE CANNON, Missouri THOMAS S. MCMILLAN, South Carolina J. BUELL SNYDER, Pennsylvania JOHN F. DOCKWEILER, California GEORGE W. JOHNSON, West Virginia JAMES M. FITZPATRICK, New York JOACHIM O. FERNANDEZ, Louisiana JOHN M. HOUSTON, Kansas J. BURRWOOD DALY, Pennsylvania ROSS A. COLLINS, Mississippi JOHN TABER, New York D. LANE POWERS, New Jersey J. WILLIAM DITTER, Pennsylvania MARCELLUS C. SHEILD, Clerk ་་ལ་ 5528. THE TREASURY DEPARTMENT APPROPRIATION BILL, 1939 HEARINGS CONDUCTED BY THE SUBCOMMITTEE, MESSRS. LOUIS LUDLOW (CHAIRMAN), JOHN J. BOYLAN, EMMET O'NEAL, J. BURRWOOD DALY, GEORGE W. JOHNSON, JOHN TABER, AND J. WILLIAM DITTER, OF THE COMMITTEE ON APPROPRIATIONS, HOUSE OF REPRESENTATIVES, IN CHARGE OF THE TREASURY DEPARTMENT APPROPRIATION BILL FOR THE FISCAL YEAR 1939, ON THE DAYS FOLLOWING, NAMELY: WEDNESDAY, DECEMBER 8, 1937. STATEMENTS OF HON. HENRY MORGENTHAU, JR., SECRETARY OF THE TREASURY; D. W. BELL, ASSISTANT TO THE SECRETARY; WILLIAM H. MCREYNOLDS, ADMINISTRATIVE ASSISTANT; AND GEORGE C. HAAS, DIRECTOR OF RESEARCH AND STATISTICS, OFFICE OF THE SECRETARY Mr. LUDLOW. We begin this morning with our examination of the estimates of the Treasury Department for the fiscal year 1939. We are very much pleased to have with us the Secretary of the Treasury, Mr. Morgenthau. Mr. Secretary, do you have a general statement you desire to make? Secretary MORGENTHAU. Yes, Mr. Chairman; I have." GENERAL STATEMENT Secretary MORGENTHAU. The objective of the Treasury Department in preparing its 1939 appropriation estimates has been to reduce its requirements to the minimum amounts believed to be necessary for the efficient performance of the essential work of the Department. New laws have brought new and increased duties to the Treasury with resultant increased costs of administration. Few opportunities are afforded, therefore, to present figures which reflect marked decreases. Nevertheless, excluding public buildings construction, the total Treasury estimates for 1939 of $2,186,595,399 indicate a net decrease of about $97,000,000 under the total appropriations of $2,283,647,723 available for 1938. This net reduction is reflected in decreases of $140,000,000 in the "Old-age reserve account," $15,000,000 under "Refunds and payments of processing and related taxes," and $11,450,000 under "Federal land bank and other capital-stock payments,' offset by increases of $5,000,000 for "Refunding internal-revenue collections," $49,000,000 for "Interest on the public debt," $8,000,000 for the "Sinking fund," $1,380,000 for "Indefinite appropriations," and $6,037,000 for "Operating expenses." 1 ༡: |