AMERICA’S SURPLUS OF £127 MILLIONS
GROSS DEBT REDUCED By Cable.—Press Association.—Copyright WASHINGTON, Saturday. The financial report of the United States Government for the fiscal year 1926-27 shows that receipts totalled £825,800,000 and expenditure £698,600,000, leaving a surplus of £127,200,000, compared with £75,400,000 in 1926. The gross debt at the close of the fiscal year totalled £3,702,200,000, showing a decrease of £226,200,000 since 1926. The annual interest-bearing rate on the debt was 3.96, compared with 4.09 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 in spite of the large surpl-.s the tax reductions at the next session of 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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Sun (Auckland), Volume 1, Issue 87, 4 July 1927, Page 9
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138AMERICA’S SURPLUS OF £127 MILLIONS Sun (Auckland), Volume 1, Issue 87, 4 July 1927, Page 9
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