A BALANCED BUDGET

Evening Star, Issue 22804, 12 November 1937, Page 8

A BALANCED BUDGET

AMERICA'S FINANCES CURTAILMENT IN EXPENDITURE Press Association—By Telegraph—Copyright NEW YORK, November 11. Mr Henry Morgenthau (Secretary of the Treasury), in an address, said the Administration planned no further pump priming expenditures. It plans to balance the 1938-39 Budget by the curtailment of 700,000,000d0l _in Federal expenditures on public highways and works, unemployment relief, and agricultural assistance. He appealed to business, industry, and agriculture to co-operate towards the desired ends.

Mr Morgenthau admitted that the business indices had recently shown a declining tendency, but said the country was nearing the end of one of the most active years of its business history. He urged capital to enter productive channels in private industry.

PRIVATE HOUSING PROGRAMME.

NEW YORK, November 10. The Washington correspondent of the ‘ New York Times ’ states that plans for stimulating a private housing programme throughout the nation are efnerging from a conference between President Roosevelt, five business leaders, and the Government advisers. The programme is designed to stimulate residential and industrial construction, backed entirely by private capital.