and establishments with a view to safeguarding the interests of the Government and to increasing the usefulness and efficiency of the several organizations, and shall report to the President thereon. The president of the board shall be responsible for its efficiency and for developing its activities along practical lines. His decision shall be final, subject to appeal by a member to his own immediate superior. Circular No. 45, November 3, 1921: Appointing Gen. Charles E. Sawyer chief coordinator of the board of hospitalization. (See Circular No. 44.) Circular No. 46 (dated Nov. 9, 1921): Directing that the heads of departments and establishments shall, when calling for bids for manufactured articles, forward a copy of the circular advertisement to the War Department Arsenal Orders Branch in order to obtain bids where the War Department arsenals can economically manufacture such articles. Failure to submit an estimate or reply to an inquiry before the time designated for opening bids will indicate the inability of the War Department to manufacture the articles. under consideration. The Arsenal Orders Branch will furnish full information regarding the conditions under which orders for manufacture above referred to are accepted. Circular No. 47, November 22, 1921: Creates an interdepartmental board of contracts and adjustments, for the purpose of standardizing contract forms and securing the adoption of uniform policies in connection therewith. Each department is directed to organize a department board for similar purposes. The chairmen of the several department boards, together with representatives of the independent establishments, constitute the interdepartmental board of contracts and adjustments. The chairman of the board shall be the representative of the Secretary of the Treasury, and the board shall adopt such by-laws and appoint such committees and subcommittees as may be necessary and advisable. The functions of the board shall be First, to standardize forms and methods of contract letting, with a view to fostering economy and promptness of execution and eliminating hazards to be assumed by the contractor which have hitherto increased the cost of Government work. Second, to recommend general policies in the settlement of outstanding obligations arising out of contracts. Third, in an advisory capacity, when requested by the head of a department or establishment, to review and revise important contracts; to advise officers concerning interpretation of contracts and to assist in the negotiation of contracts. The chairman of the board is charged with the responsibility for its efficient operation and development. His decision will be final, subject to appeal by any member to the head of his department or establishment, whose decision shall then be final. BUDGET STATEMENT No. 1. Balanced statement of (1) the condition of the Treasury at the end of the fiscal year 1921, (2) the estimated condition of the Treasury at the end of the fiscal year in progress, 1922, and (3) the estimated condition of the Treasury at the end of the ensuing fiscal year, 1923. TOTAL ORDINARY EXPENDITURES.. 2, 127, 053, 927. 00 2,574, 758, 166.00 2. Reduction in principal of public debt-payable out of 73, 896, 697. 44 16, 781. 320. 79 922, 593. 14 4,088, 295, 848. 20 A18 2. United States Veterans' Bureau.. 4. Federal Board for Vocational Education.. 5. All other, including War Finance and Grain 15. District of Columbia (excludes teachers' retirement fund investment). . 16. Miscellaneous 1. Increase of compensation... 2. Purchase of obligations of foreign Governments 1. Sinking fund.. 2. Purchase of Liberty bonds from foreign repayments.. Balanced statement of (1) the condition of the Treasury at the end of the fiscal year 1921, (2) the estimated condition of the Treasury at the end of the fiscal year in progress, 1922, and (3) the estimated condition of the Treasury at the end of the ensuing fiscal year, 1923-Continued. A20 1,715, 000, 000, 00 2, 110, 000.000.00 GRAND TOTAL ORDINARY RECEIPTS'... 3, 338, 182, 750.00 3,943, 453, 663.00 3,206, 046, 157.74 1, 390, 380, 823. 28 4, 596, 426, 981.02 308, 564, 391.00 719,941, 588.89 5, 624, 932, 960, 91 86, 892, 271. 61 To reconcile these totals with those shown in the Treasury report, it is necessary to add to the above figures for both receipts and expenditures for the fiscal year 1922 the sum of $25,000,000 and for the fiscal year 1923, $7,000,000, on account of reduction of capital stock of the United States Grain Corporation. This transaction for 1922 occurred after the preparation of the statement of estimated expenditures for 1922, made by the Secretary of the Treasury, Aug. 4, 1921, amounting to the sum of $4,550,000,000. Internal revenue collections for the fiscal years 1923 and 1922 are estimated on basis of act of Nov. 23, 1921. To agree with Treasury Statement of June 30, 1921, add the balance of $105,084,151.92, which represents the balance of public deb treceipts (loan funds) on June 30, 1921. |