The $1,115,000,000 tax bill enacted fortnight ago failed to balance the Budget even roughly, by about $350,000,000. To fill up this gap Congress was expected to effect special economies of about $250,000,000 and reduce appropriations by $100,000,000. Last month the House of Representatives was presented with a $263,000,000 economy bill. When the House finished with it, the measure represented an estimated saving of somewhere around $40,000,000. Last week when its turn came to save in a big way, the Senate also faltered, lost its nerve.

The Senate's Economy Committee, with President Hoover's aid &...

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