U.S.A. DEFICIT
CUTS IN GOVERNMENT OUTLAY. , United Press Association. —By Electri* Telegraph.—Copyright.) NEW YORK, Sept. 3. With the disparity' between the United States revenue and expenditure steadily moving, there is a deficit for the first two months of the fiscal year already totalling 396 mil ion dollars. Therefore, President Hoover today called a conference with Chairman Wood, of the U.S.A. House of Representatives Appropriations Committee, after which the latter announced that drastic cuts would be made in the Army and Navy and in the Farm Board appropriations, as well as on other Governmental departments, in order to avoid any sharp increases in national taxation. He said: “The Government "must sober lip in spending. When the people were spending like drunkards, they did not object to the Government spending in the seme way, but the sitiiation is changed. If we only cut out unnecessary expenditures, we can gradually balance the budget.”
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Hokitika Guardian, 4 September 1931, Page 6
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150U.S.A. DEFICIT Hokitika Guardian, 4 September 1931, Page 6
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