AMERICAN FINANCE.
CURRENT YEAR'S OUTLOOK.
CREDIT TO BE ESTABLISHED.
WASHINGTON, June 09
At midnight to-morrow the United States will close its fiscal year and embark upon a new period with additional revenue-producing machinery and an auxiliary economic programme which promises to produce sufficient income to keep the Treasury in order. Tho deficit to-day was 2,837,644,914 dollars. On June 25 last year it was 902,716,000 dollars. In the year before there was a surplus of 183,000,000 dollars, which ended 11 consecutive years of profitable operations. In the fiscal year 1933, Government officials state, there is expected to accrue a total of 3,261,000,000 dollars in taxes. This will be sufficient, says the President, Mr. Hoover, to impregnably establish the credit of the Federal Government.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21223, 1 July 1932, Page 11
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122AMERICAN FINANCE. New Zealand Herald, Volume LXIX, Issue 21223, 1 July 1932, Page 11
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