IMPROVED POSITION

New Zealand Herald, Volume LXXVII, Issue 23574, 7 February 1940, Page 11

IMPROVED POSITION

NATIONAL INCOME AMERICA SINCE 1932 DENIAL OF PENDING CRISIS By Telegraph—Press Association—Copyright NEW YORK, Feb. 5 Speaking to journalists to-day Mr. Roosevelt dared his critics to prove their charges that the United States is going to face a financial crisis. He said that while the total indebtedness of the Federal, State and local Governments had not increased since 1932 the national income had increased from 40,089,000,000 dollars to more than 70,000,000,000. When the national income reached 80,000,000,000 dollars, as he was confident it would, the Budget could be more than balanced. Since 1932 there had been increases of 71 per cent in the national income, 62 per cent in salaries, 145 per cent in factoiy workers' weekly pay rolls, 55 per cent in dividends, 82 per cent in farm incomes, and 97 per cent in commodity exports.

AMERICAN PRESIDENT THIRD TERM SPECULATION (Received February 6, 5.5 p.m.) NEW YORK, Feb. 5 In an interview to-day at Hyde Park President Roosevelt said he was weary of speculation as to whether he intends to stand for a third term. He would disclose his personal political plans at a time of his own choosing. A canvass of members of the Democrat Party's national committee reveajed that 90 per centare in favour of a third term for Mnxloosevelt. The committee has selected Chicago, which was the scene of Mr. Roosevelt's nomination in 1932, for the 1940 national convention.