UNITED STATES FINANCES.

Press, Volume LXVI, Issue 20087, 17 November 1930, Page 11

UNITED STATES FINANCES.

136,400,000 DEFICIT. gIOHJSR INCOME TAXES PROBABLE. 1 gINT OF TARIFF INCREASES. .J...JJD P£t"D *t EMCIBIC 111 .jtLEOBiPB-COPYKIGHT.) ißeceived November 10th, 8.15 p.m.) WASHINGTON , November 10. President Hoover formally admitted ■3a likelihood of a Treasury deficit Rt :ho end of. the fiscal year, and Administration circles indicated that they tad abandoned all hope of avoiding the imposition of higher income taxes (or the present year.

Senator Reed Smoot, chairman oi tie Senate Finance Committee, folkitnal a conference with the Presiduit, stated that the Treasury deficit would probably total 182,000,000 dqllirs. He added that he could suggest ao remedy, except ft possibility that certains tariff rates were not sufficiently is understood that the Government has been sounding business Naders relative to the feasibility of an iifoe of Government bonds, in order to meet the contemplated deficit, since th» ambitious building programme to aid employment cannot be reduced nt tM present time. S«nator Simeon D. Fess intimated the possibility of diverting the inter«rt r»n foreign war debts, which has hitherto been used to reduce the National Debt, to current expenditure.