AMERICAN DEFICIT.
PEACETIME RECORD. WASHINGTON, July 1. Mr H. M. Morgenthau (Secretary of the Treasury), in a radio address, declared that the 1936 fiscal year’s deficit of 4,800,000,000 dollars was, the largest peacetime deficit in the country’s history. The national debt was 33,750,000,000 dollars, an increase of approximately £13,000,000,000 dojlars since the inauguration of President Roosevelt, against which tie Secretary claimed onsets of 4.000,000 - 000 dollars returnable under loans granted private individuals by the Government, and 2,000.000,000 dollars in profit from the gold devaluation. Government expenditures for 1936 totalled 8,900,00u,0vd dollars.
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Manawatu Standard, Volume LVI, Issue 182, 3 July 1936, Page 9
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91AMERICAN DEFICIT. Manawatu Standard, Volume LVI, Issue 182, 3 July 1936, Page 9
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