BIG DEFICIT FOR YEAR FORECAST.
PRESIDENT HOOVER ISSUES A WARNING
(United Press Assn.—By Electrio Telegraph.—Copyright.) (Received December 3, 8.30 a.m.) WASHINGTON, December 2. President Hoover set unemployment and drought relief at the top of his programme in a message to Congress to-day. He requested an emergency appropriation up to 150,000,000 dollars to accelerate Federal construction during the next six months. Estimating that the year’s deficit would reach 180,000,000 dollars, he said: “I cannot emphasise too strongly the absolute necessity to defer any other plans for an increase in Government exjjenditure. There is a surplus of only 30,000,000 dollars in sight for 1932.” The President has issued a warning that even with the discontinuance of the 1 per cent tax reduction on incomes, rigid economy was necessary to avoid a tax increase.
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Star (Christchurch), Issue 19243, 3 December 1930, Page 1
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131BIG DEFICIT FOR YEAR FORECAST. Star (Christchurch), Issue 19243, 3 December 1930, Page 1
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