THE CABINET: Mellon s Report

The report of Secretary of the Treasury Mellon, if it came entirely from his own hand, would convict him of being nearly as prolific a penman as H. G.

Wells. His report contained 350

printed pages and much information. RECEIPTS FOR 1923-24 IN PERCENT

(1% = about $40,000,000)

Income Tax 45.92%

Other Internal Revenue 23.75%

Customs 13.60%

Foreign Debt Payments 5.53%

Income from Securities 2.59%

Sale of Surplus Material 1.17%

Trust Fund Receipts 76%

All Other 6.68%

100.00%

Total, $4,012,044,701

EXPENDITURES FOR 1923-24 IN PERCENT

(1% = about $35,000,000)

Interest on Debt 26.82%

Other Debt Retirements 13.06%...

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!