UNITED STATES' DEFICIT.
GREAT INCREASE. DRASTIC ECONOMY ESSENTIAL. (UNITED FBKSS ASSOCIATION—-BT E&lCTfttO TBUBOBAPH—COPTaWOST.) (Received September 3rd, 5.5 p.m.) WASHINGTON, September. 2. With the disparity between revenue and expenditure steadily mounting, the deficit for the first two months of the fiscal 7°ar already totals 396,000,000 dollars. President Hoover to-day called ' a conference with the chairman (Mr W. E. Wood) of the House Appropriations Committee, after which the latter announced that drastic cuts would be made in the Army and Navy and the Farm Board appropriations, as well a3 in those of other governmental Departments in order to avoid Sharp increases in national taxation, "The Government," he said, "must sober up in spending. When the people were spending like drunkards, they did not object to the Government spending the same way, ;but the situation is changed. If we only cut unnecessary expenditures we can gradually balance the Budget."
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Press, Volume LXVII, Issue 20333, 4 September 1931, Page 11
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146UNITED STATES' DEFICIT. Press, Volume LXVII, Issue 20333, 4 September 1931, Page 11
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