THE CABINET: Doctrine Emphasized

Last week the Treasury announced that its deficit had risen to the unprecedented peacetime figure of $878,971,129, indicated that it would break through the billion dollar mark before the end of the fiscal year (June 30). President Hoover was thoroughly alarmed.

To the meeting of the U. S. Chamber of Commerce at Atlantic City last week went Secretary of Commerce Robert Patterson Lament to carry cautious words of cheer. Emphatically he reiterated President Hoover's major doctrine that wages must be maintained, praised Industry for the "fine spirit" with which it has responded to...

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!