PROSPEROUS TIMES

Wanganui Chronicle, Volume LXXXIII, Issue 19865, 13 June 1927, Page 7

PROSPEROUS TIMES

WEALTHY AMERICA BIG TAXATION REMISSIONS Received June 12, 7 p.m . (A. & N.Z.) NEW YORK, June 11. President Coolidge, in his Budget address to Congress emphasised the necessity of holding down expenses if a material tax cut were to be realised. While Republican Senators urged previously a cut amounting to 300,000,000 dollars, President Coolidge estimated? that the figure would be nearer 200,000,000 owing to demands on the Treasury for flood aai farm relief. The President declared that the figures, which superficially are encouraging, will be affected by collection failures and incidental items. “Unquestionably,” he said, “the nation is enjoying a period of the greatest prosperity. We must, nevertheless, remember that the present affluence is id<uc to a sound financial policy, which should serve as an example to Other nations? ’ President stressed the fact that tke failure to ratify The MellonBerenger agreement necessitated a revision of the Budget under the heading 1 “ Debt Retirement.”