U.S.A. DEFICIT
HUGE INCOME TAX DROP. (United Press Association—By Electric Telegraph,—Copyright.) WASHINGTON, March 23. Definitely illustrating the full extent of the blow which the 1930 depression dealt American taxable incomes, the Treasury Department stated that the March collection of income and corporation taxes would aggregate only about 850 million dollars, compared with a collection of 559,500,000 dollars for March, 1030. This year’s total Is one hundred million dollars below the estimate, for the present collection, meaning a decrease for the entire fiscal year of over four hundred million below last year. The officials are unwilling to make predictions concerning the deficit but it appeared probable that it will run between 7CO and 800 million dollars for this year.
The renorts of the revenues in sight are so discouraging thnt rumours are current that President Hoover might call together the Department heads in order to find a means to curb expenditures.
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Hokitika Guardian, 25 March 1931, Page 2
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150U.S.A. DEFICIT Hokitika Guardian, 25 March 1931, Page 2
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