FISCAL: Seventh Deficit

The adding machines of the Treasury Department last week celebrated the Federal fiscal New Year's day by doing a simple subtraction:

Spent $8,001

Received 5,294

In the hole $2,707

Such was the net result (in millions of dollars) of the U. S. Government's operations for fiscal 1937. Each of the three figures in this calculation was a news item in itself:

Spending. The expenditure of $8,001,000,000 was more than twice the size of pre-Depression Government spending. It was, however, smaller than the $8,477,000,000 spent in fiscal 1936 and showed the first downtrend in...

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