National Affairs: The Budget & The Hill

The U. S. Government ran goo million dollars into the red in fiscal 1931. When April came this year it was 1,885 new millions in the red for fiscal 1932. When April went it was 448 more new millions behind (mostly Reconstruction Finance loans). All these millions—2,333 of them and more to come before June 30—will be lumped with the Public Debt for future generations to pay off.

Months ago President Hoover, obviously endorsed by public sentiment, and joined by even the ill-organized, quarrelsome House of Representatives in its famed standing vote of March 29, resolved that in fiscal 1933 the U....

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