Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-02
1896, 365, 900 Is 62-Day Rec
ord in New Year, U. S.
Treasury Reveals. y
WOOD SEES DRASTIC
CUT IN EXPENDITURES
sos, 100000 Debit of 1881 Wiped
Out Two Months Agc-In-
come Since $230,3s9,l5l.

By the Associated Press
In the 81 days OF the new fiscal wear.
the Government has rolled up a deficit
Of 1896, 365 900.
This was recorded today by the daily
treasury statement. Just two month.
ago the Treasury ended the 1891 fiscal
year with deficit of 1908. 900 900. This
was wiped out by an addition TO the
public debt, and the Government
started the new year with clean slate.
The figures were announced as Presi-
dent Hoover and administration officials
went ahead with a study OF the nations
finances with view to determining
whether the President shall recommend
an increase in taxes or resort to an
other bond issue.
Chairman Wood Of the House An
preparations Committee which passes
upon the ALLEGATION of funds to the
Government departments. said TODAY
Federal expenditures for the next fiscal
year would be cut drasticallv and that
Navy. am
During the first 81 DAYS Of the new
fscal year sl44000, 900 more was spent
than during the same period of last
year.
The Treasury statement statement as
OF August 81 showed that in the two
months the Government income had
amounted to S230.399.l5l, and expendi-
lures were 1926, 764,75I.
Increase in Expenditures.
The receipts from all sources we're
only about Sill 10000 less than III the
first two months of last year. but tie
increased expenditures brought the def
icit for the two months to s156O00 900
more than the deficit in the same Pc
Rod OF year ago
The chief increase in the expenses
was in the iund which includes money
spent in carrying on the public build
ing and public works program The
postal deficiency for two month dou-
bled as compared with that for the
same period a year ago.
On the receipt side of the ledger in.
come taxes dropped $4,000 600 o a to-
! tai of $46.579. 466. Miscellaneous inter.
nal revenue declined $4,000, 900 to $685.
| 1875 and cutoms duties totaled S72.-
/ 1878 an increase of approximately
Sl4 900 900. as compared with a year
ago. when for the two months they
were about $4,000, 900 under the aver
age.
buTlNg august Lne puDNc QeDI IN.
creased $50 900 900 to a total of sl6.-
1853, 78l .233. due to issuance OF secure
ties to raise money needed by the Gov
ernment.
Referring to his proposal to start
trimming expenditures for the Navy and
the Army. Wood asked:
Why in Heavens name should We
build our Navy up to the tire t. limits.
when it will have nothing to DO after
we have built it?"
The Government. he said. must b.
gin to sober up in its spending.
Serious Spending Problem.
When the people were spending like
drunkards,' he said, they didn't CO.
iect TO the Government spending the
same way. Now that the people have
begun spending seriously and Soberly
the Government hao better begin TO
spend that way"
Asked if he was opposed to further APP
preparations for the Farm Board. Wood
held his hands over his head and said:
Il don't know. think we had all bet
ter begin praying now and watching for
deliverance"
Wood added that he could not say
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