AMERICA’S DEFICIT
STEADILY MOUNTING DRASTIC CUTS IN EXPENDITURE (United Press,, Association.) (By "Electric Telegraph—Copyright.) LONDON, September 3. (Received Sept. 3, at 8 p.m.) With the disparity between revenue and expenditures steadily mounting, the deficit for the first two months of the fiscal year already totalling 396,000,000 dollars, President Hoover to-day called a conference with the House Appropriations Committee, after which the latter announced that drastic ciits would bq made in the Army and Navy and Farm Board appropriations, as well as other Governmental departments, in order to avoid sharp increases in the national taxation. “The Government must sober up in spending,” said the chairman. “When people were spending like drunkards, they did not object to the Government spending in the same way, but the situation is changed. If we only cut unnecessary expenditures we can gradually balance the Budget.”
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Otago Daily Times, Issue 21431, 4 September 1931, Page 9
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139AMERICA’S DEFICIT Otago Daily Times, Issue 21431, 4 September 1931, Page 9
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