COOLIDGE BRINGS DOWN PROSPEROUS BUDGET

Sun (Auckland), Volume 1, Issue 69, 13 June 1927, Page 9

COOLIDGE BRINGS DOWN PROSPEROUS BUDGET

AMERICA FLOURISHES REDUCTION OF TAXES By Cable.—Press Association.—Copyright WASHINGTON, Friday. The President, Mr. Coolidge, in his Budget address, spoke o£ the necessity for reducing expenses if any material reduction in taxation is to be realised. The Republican senators bad previously desired a reduction of £6O millions, but Mr. Coolidge estimated that the amount will be nearer £4O millions, owing to the demands of the Treasury for relief for farmers ruined in the floods. The President said the figures, which superficially were encouraging, would be affected by failures in collection and incidental items. “Unquestionably the nation is enjoying a period of very great prosperity,” said the President, “but we must, nevertheless, remember that our present affluence is due to a sound financial policy, which should serve as an example to other nations.” The President called attention to the fact that the non-ratificati-'n of the Mellon-Berenger agreement had necessitated the revision of the Budget under the head of debt retirement.— A. and N.Z. SUPER-POWER SCHEME VAST AMERICAN PLAN By Cable.—Press Association.—Copyright . NEW YORK, Saturday. The Secretary of Commerce, Mr. H. C. Hoover, is supervising the formulation of a super-power plan under which all the power units throughout the country would be connected by a vast trunk system. Under the proposed scheme the connecting units would consist of main and secondary lines, controlled from a central point so that in case of necessity all the power resources of the United States could be diverted to any point immediately. The promoters of the scheme are attempting to overcome the legislation in some States where the plan would not now be accepted.