National Affairs: Annual Reports

The more important annual reports published by Department heads last week:

Treasury. Secretary Mellon declared that he believed national prosperity is founded on a sound basis and may look hopefully to the future; that the policy of paying off the public debt as rapidly as possible has improved public credit and released funds for investment in business; that in framing tax reduction, personal exemptions should not be raised too high, so that the number of tax payers will be insufficient to furnish necessary revenue in a national emergency. Much of his report contained...

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