SLUMP IN AMERICA
SIGNIFICANT FIGURES
BIG DEFICIT LIKELY •. v
WASHINGTON, 23rd March!. I
Definitely illustrating the full extent of the blow the 1930 depression dealt American taxable incomes, the Treasury Department has stated that thq> March collection of income and corporation taxes totals only about 350,000,* 000 dollars compared with the collection of 559,500,000 dollars in March; 1930.
The fact that the total is 100,000,000 dollars below the estimate for the present collection means a decrease tor, the entire fiscal year of more than 400,000,000 dollars below last year.
Officials are unwilling to make predictions concerning the deficit, but it appears probable that it will run be« tween 700,000,000 and 800,000,000 dollars for this year.
Reports of revenue in sight are so discouraging that rumours are current that President Hoover might call together the Department heads in. ordei; to find a means of curbing expendi* turos.
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Bibliographic details
Evening Post, Volume CXI, Issue 71, 25 March 1931, Page 9
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146SLUMP IN AMERICA Evening Post, Volume CXI, Issue 71, 25 March 1931, Page 9
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