AMERICAN FINANCE
BIG TREASURY DEFICIT LARGEST IN PEACE-TIME HISTORY Frew Association —By Telegraph—Copyright
WASHINGTON, April 30. Mr H. Morgenthau (Secretary of the Treasury), testifying bef.ore the Senate on the Tax Bill, said he estimated there ■would be ■ a Treasury, deficit of 5,966,000,000 dollars, the largest in peace-time history. This would be due principally to the payment of the soldiers’ bonus. He further estimated that the 1937 deficit would be 2,675,000,000 dollars.
It has been unofficially calculated that if Mr Morgenthau’s estimates are fulfilled the public debt, at the end of the 1937 fiscal year will total 37,468,000,000 dollars.
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Evening Star, Issue 22328, 2 May 1936, Page 15
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98AMERICAN FINANCE Evening Star, Issue 22328, 2 May 1936, Page 15
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