AMERICA’S FINANCE.

Waikato Times, Volume 109, Issue 18342, 30 May 1931, Page 7

AMERICA’S FINANCE.

DEFICIT OF £200,000,000. 'LONG TERM BONDS PROPOSED. United Press Assn—Elec. Tel. Copyright. WASHINGTON, May 28. Following upon a report by tho Treasury Department that the deficit now exceeds £200,000,000, responsible sources having intimated that a longterm bond issue, which would be the largest since the wartime 11 Liberty loans,” will be resorted to, unless therft is a sharp improvement in the business outlook in the next two weeks. The Treasury statement showed that, with ordinary receipts lower by about £112,000,000 in the current fiscal year, the Government’s expenditure exceeded receipts by about £208,100.000 as at May 2G and that the trend is expected to continue to a point where the deficit at June 15 is expected to bo nearly £300,000,000. The amount of tho Budget estimates was 5,207,893,223 dollars (about £1,050,000,000), and the appropriations totalled 5,180,107,532 dollars, which was the largest amount ever appropriated in a single session. The average yearly expenses before the war wore 1,118,418,000 dollars (about £225,000,000). The total was largely Increased by relief grants.