A HEAVY DEFICIT
UNITED STATES TREASURY HIGHER TARIFFS AS REMEDY BOND ISSUE ALSO SUGGESTED [By Telegraph—Press Association —Copyright.] Received Nov. 16, 7.30 p.m. WASHINGTON, Nov- 15. Mr Smoot, chairman of the Senate Finance Committee, following a conference with Mr Hoover, stated that the Treasury deficit would probably total 182,000,000 dollars. He added '.hat he could suggest no remedy except diu possibility that certain tariff rates were not sufficiently high.
It is understood that the Government has been sounding out business leaders, relative to the feasibility of the issue of Government bonds in order to meet the contemplated deficit. Since the ambitious building programme to aid employment cannot be reduced at the present time, Senator Fees intimated the possibility of di’. | ting the interest on foreign war dems, which hitherto has been used to reduce the national debt, to current expenditure. Mr Hoover formally admitted the likelihood of a treasury deficit at the end of the fiscal year, and administration circles indicated that they have abandoned all hope of avoiding the imposition of higher income taxes for the present year.
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Bibliographic details
Wanganui Chronicle, Volume 73, Issue 425, 17 November 1930, Page 7
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179A HEAVY DEFICIT Wanganui Chronicle, Volume 73, Issue 425, 17 November 1930, Page 7
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