NEW YORK: Deficit Deleted

Herbert Henry Lehman, banker, son and brother of bankers, announced last week that, as Governor of New York, he had at last, after five fiscal years, wiped out an accumulated deficit of $94,428,496.67 left behind for fiscal 1933 by Governor Franklin Delano Roosevelt. Fiscal 1938, said Governor Lehman, had ended with New York State some $16,600,000 in the black for the year, some $6,500,000 in the black for all years (apart from funded debt).

Banker-Governor Lehman is now running for the U. S. Senate, and local adversaries took mild issue with his...

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!