AMERICA’S WEALTH
YEAR’S REVENUE
SURPLUS OF 636 MILLION DOLLARS
HUGE REDUCTION IN NATIONAL DEBT (By Telegraph—Press Assn.—Copyright.) (Rec. 5.5 p.m.) Washington, July 1. The United States Government’s financial report for the fiscal year of 1927 show receipts amounting to 4,129,060,000 dollars, and expenditures therefrom amounting to 3,493,000,000 dollars, resulting in a balance of approximately 636,000,000 dollars, compared with 377,000,000 in 1926. The total gross debt at the close of the fiscal year totalled 18,511,000,000 dollars, showing a decrease of 1,131,000,000 dollars since 1926. The annual interest-bearing rate on the debt is 3.96, compared with 4.07 in 1926. This is the first year since the close of the war in which the rate has been below 4 per cent. It is announced that despite the large surplus, tax reductions by the next Congress will be -slight, because the size of the surplus is due to special non-recurrent and diminishing items of revenue.—A. and N.Z.
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Bibliographic details
Southland Times, Issue 20220, 4 July 1927, Page 7
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153AMERICA’S WEALTH Southland Times, Issue 20220, 4 July 1927, Page 7
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