AMERICA'S DEFICIT
HUGE TOTAL REACHED
FIGURES FOR PAST YEAR
(Received July 'J, DAS p.m.) WASHINGTON, July 1
The Secretary of the Treasury, Mr. Henry Morgenthau, in a radio address stated that the 1936 fiscal year's deficit totalled 4,800,000,000 —the largest in time of peace in the country's history. The national debt was 33,750,000,000 dollars, an increase of approximately 13,000,000,000 since the inauguration of Mr. Roosevelt as President. Against this, Mr. Morgenthau claimed offsets of 4,000,000,000 dollars returnable under loans granted to private individuals by the Government, 2,000,000,000 dollars profit from gold devaluation. The Government's expenditure in 1936 totalled 8,900,000,000 dollars.
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Bibliographic details
New Zealand Herald, Volume LXXIII, Issue 22461, 3 July 1936, Page 11
Word Count
100AMERICA'S DEFICIT New Zealand Herald, Volume LXXIII, Issue 22461, 3 July 1936, Page 11
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