MELLON'S METHOD
SURPLUS TO TAXPAYERS
WASHINGTON, 4th December.
Mr. A. AY. Mellon, the Secretary of the Treasury, in his annual report to Congress, announced his policy to take steps in future to give taxpayers the benefit of the surplus revenues instead of applying such surplus to debt reduction.
The Secretary presented an optimistic picture of the Governmental finances and business, despite the recent crash. He asked particular attention to the Federal reserve system's part in obviating panic. He also took up the question of group aud branch banking, expressing the hope that banking will proceed moderately, and that hasty legislation to liberalise or constrict the limitation now effective will be avoided.
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Bibliographic details
Evening Post, Volume CVIII, Issue 137, 6 December 1929, Page 11
Word Count
111MELLON'S METHOD Evening Post, Volume CVIII, Issue 137, 6 December 1929, Page 11
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