National Affairs: A Vanishing Deficit

BUDGET

Coincident with Secretary Mellon's announcement that March income taxes were $63,000,000 in excess of expectations, it was announced that the customs receipts for March brought the total income from import tariff to $405,753,000 for the first nine months of the fiscal year. On this basis tariff receipts for the year may be expected to aggregate $550,[)00,000 or more. This is $100,000,000 more than expectations from this source.

Director Lord of the Budget Bureau announced three weeks ago an expected deficit for the Treasury of $180,000,000. With income taxes yielding an unexpected $63,000,000, and the tariff another $100,000,000, the deficit is in...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!