BALANCE BUDGET.

Auckland Star, Volume LXVIII, Issue 269, 12 November 1937, Page 7

BALANCE BUDGET.

AMERICA'S PLANS.

Relief Assistance to Receive Substantial Cut. "PUMP PRIMING" TO STOP. United Press Association.—Copyright. NEW YORK, November 11. The Secretary of the Treasury, Mr. Henry Morgenthau, in an address on the Government's plans, said there would he no further "pump priming" expenditure. It was intended to balance the 1f).'58-39 Budget by the curtailment of 700,000,000 dollars Federal expenditure on public highways and works. unemployment relief anil assistance to agriculture. He appealed to business, industry and agriculture to co-operate to the desired ends. Mr. Morgenthau admitted that business indices bad recently shown a declining tendency, but said the country was approaching the end of one of the most active years of its business history. He urged capital to enter the productive channels of private industry. The Washington correspondent of the "New York Times" states that plans for stimulating throughout the country a private housing programme are emerging from a conference between President Roosevelt, five business leaders and (iovernment advisers. The programme is designed to stimulate residential and industrial construction. backed entirely by private capital.