AMERICAN BUDGET
PRESIDENT RECOMMENDS TAX
TO MEET REVENUE DEFICIENCY
(United Press Association- -By Llectrio Telegraph—Copyright.) WASHINGTON, December 7. •President Hoover has submitted the budget for 1933-34 to Ccngre s/ The expenditures total 4,218 million dollar.',, representing n reduction ol 580 million dollars, as compared with the previous year. The largest item of the estimated - expenditure i-s 931,077 thousand dollars for ex-service men.
The appropriation fo r the Navy Department -i-s 308 mill'on dollars. That ,or tie War Department is 276 million dollar’.
The naval appropriation include#; some 4,400,000 dollars f«r the modernisation of two battleships, also 38.815 thousand dollars . for the construction of new vessels, including tw-o e.;ghtjnch gun cruisers and fou r de-troyero.
The President recommends a manufacturers’ excise tax of RJ per cent, to produce additional funds to meet the present revenue deficiencies. The budget message contains no estimates of revenue, thus cnrrvng no intimation of even, tlie provi-ional expectation of the ’, war debts payments on December 15.,
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Hokitika Guardian, 8 December 1932, Page 6
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160AMERICAN BUDGET Hokitika Guardian, 8 December 1932, Page 6
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