AMERICAN BUDGET

Press, Volume LXIX, Issue 21050, 29 December 1933, Page 9

AMERICAN BUDGET

. DEFICIT SMALLER THAN LAST YEAR DISTINCTION IN EXI'ENDITI RE (Received December 28. 5.5 p.m.) WASHINGTON, December 27. Mr Roosevelt professed no concern f.O-day as the Treasury statement, revealed that, the Federal deficit for the current fiscal year had passed the billion dollar mark. He said this was due to the emergency appropriations voted by Congress, and insisted that, the so-called ordinary budget would balance and perhaps show a surplus, while he intimated that future expenditures in the extraordinary budget must be guided to some extent by the future requirements of the relief proprogramme. The Treasury statement of December 22 showed a deficit of 1,024,000,000 dollars, compared with 1,593,000.000 dollars at the same date in 1932. Trade figures published to-day revealed a favourable balance of 56,000,000 dollars for November. Exports aggregated 184,000.000, compared with 128,000,000 dollars in imports.

PROTECTION OF HANK DEPOSITS

WASHINGTON, December 27. With the Limited Bank Deposit Act coming into effect on January 1, officials predict that 97 per cent, of all bank accounts will come under the guarantee, which covers deposits up to 2500 dollars in Federal Reserve Banks. While thousands of banks arc sti.-l outside the reserve it is expected that most of them w'.ll enter as soon as possible.

DOLLAR STRONGER

cold price in-chanced NEW YORK. December 27. The gold price was again unchanged to-day, although the foreign exchange markets reopened. Ihe dol'ar showed strength throughout the day, while sterling lost 2-{ cents at the opening. Other f« rei S n i:ltrrencies were down. Ihe doll.u closed at 64.23 cents against the franc, sterling at 5 dollars 10 cents, and the franc at (>.lO cents.