Brooklyn Boro

January 12: ON THIS DAY in 1948, Truman asks 39.75 billions, marks 46% for ‘Cold War’

January 12, 2021 Brooklyn Eagle History

ON THIS DAY IN 1861, a Brooklyn Daily Eagle editorial said, “It is loudly asserted by the coercion organs of the North that there is a large popular element at the South opposed to secession, but that it allows itself to be overborne by the prevalent sentiment. There is no doubt that this is to a certain extent true. But those of the South who deprecate secession know that if the North persists in refusing all peaceable methods of accommodation, and civil war is forced upon the country, they must take part with their own section in order to avert the worst consequences of the strife. The Union men at the South are aware that a revolution has been precipitated, and they only hope that its consummation may be averted by concessions, and they stand ready to enter the lists against secession the moment they receive any encouragement from the dominant party in the Free States. But if that shall continue to be refused, the South will be at heart united, as it is now in outward seeming, and all its citizens will feel that their salvation will depend on unity of purpose in meeting any hostile invaders that may be sent against them.”

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ON THIS DAY IN 1867, an Eagle editorial said, “The less extreme, and we may add the less sincere, Radical organs are endeavoring to allay public apprehension by stating that there is no intention to proceed with the project of impeaching the President. If public opinion does not make itself felt, the Radicals will go on. With the Supreme Court and the President against the wild schemes of the dominant party, it can do nothing. The impeachment of the President is intended to effect his displacement, pending a trial which will drag its slow length along until the close of President [Andrew] Johnson’s term. Ben Wade is designated as the candidate of the Radicals for Vice-President, pro tem., and in the event of the President’s displacement would claim to rule as President. In Mexico every party and every faction has its own President, but the plan does not work very well for Mexico. The impeachment scheme may fail, but if it does it will be not because the majority in Congress is not inclined to press it, but because the sober second thought of the people is beginning to make itself felt.”

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ON THIS DAY IN 1948, the Eagle reported, “WASHINGTON (U.P.) — President [Harry] Truman today sent to a Republican Congress, which is sure to rip it apart, a cold war budget for spending more than $39,668,000,000 in the fiscal year 1949. That is a spending increase of $1,941,218,622 over the current fiscal year. But Mr. Truman called the new budget ‘even more realistic and hardboiled than the budget of 1948.’ He cited the international emergency, rising prices and demands of public interest as factors forcing spending up. He asked for funds to start new programs which would run into billions of dollars annually in future years — a national health insurance plan, vastly broadened old-age and unemployment insurance coverage, and universal military training, among others. The President estimated 1949 fiscal year receipts at more than $44,475,000,000 and the surplus at upward of $4,800,000,000. And he said the current fiscal year will end June 30 with a surplus of $7,482,000,000, making a two-year surplus of more than $12,000,000,000. This is the third consecutive surplus. These fat surplus estimates were accompanied by anti-inflation warnings that they must go for reduction of the national debt, not tax reduction. Mr. Truman insisted again that his proposed $40-for-everybody tax cut should be offset by increasing corporation taxes by $3,200,000,000.”

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ON THIS DAY IN 1953, the Eagle reported, “EASTERN FRONT, KOREA (U.P.) — Col. Louis W. Truman of Washington, D.C., second cousin of President Truman, has served his full time as a regimental commander and is being transferred to another post. Remaining behind in his regiment is Pvt. William D. Eisenhower, 26, of Parrotsville, Tenn.”


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