Evening star., 1933-12-27
RECOVERY FUNDS
RUN DEFICIT UP TO
BILLION DOLLARS
Continued From First Page.)

BILLION DOLLARS
Continued From First Page)
of conferences before the opening of
the regular session of the Seventy-third
Congress week from today.
Deficit Lower.
The exact amount of the deficit given
in the latest announcement OF the
TreSury's condition, dated December
%, was sl,024. l2l .667: On the same
| 694, ,753.
Ordinary expenditures were within
receipts, but those classified by the ad-
the amount of the deficit.
Receipts since July /, the beginning
| Of the fiscal year, were 81 ,440 ,193,4 ,463, as
compared with $1,000 ,209, 1902 for last
years corresponding period.
Ordinary expenditures were s1,425,r
424,842, and emergency expenditures
81 ,038, $50, ,2S8.
Biggest items in the emergency
| classification were 1891 ,84l 900 for the
R. F. c., $204, 1901 900 for the Public
Works Administration and Sl46,810, 900
for the Conservation Corps The Civil
| Works Administration had taken S53,-
842 900, and the Farm Adjustment Ad-
minitration $39579, 900.
In his discussion of the bank insur-
| ance plan, Cummings said that on De-
cember l6 there were $3.50 non-re-
Stricted banks in the Federal Reserve
System, all Of which will be members
of the insurance fund. He said 7749
! non-menber State banks had applied
fnr Hov ~
most of them will be able to pass the
! test"
r. F. c. Co-opeFateS.
This has been made possible through
the cooperation of the r. F. c." Cum
mingS said. Million OF dollars have
been poured into the non-mernber
banks OF the Nation by the R. F. c.
in purchases of the preferred stock and
capital notes of such institutions,
thereby strengthening the financial
structures of such banks.
up to the close of business Deem
Der %, 2,753 State non-member banks
had applied to the R. F. C. TO buy their
preferred stock or capital notes, while
purchases BY the R p c, on such sp,
plications had aggregated s171, 7s7, 900
IN 2,515 OF these institutions.
Purchases by the R. F. c. of capital
obligations of all banks amounted to
an excess of $3.50, 900, 900 up to Decem-
Der 23."
Many Announce List.
Cummings said practically all State
non-member banks applying for in
clusicn in the fund have been examined
for membership and that all applica-
tionS received to date will have been
pYapninod hu 10 MI ua t6ot
the directors will determine this week
whether to make public the list of
banks becoming members.
The Commerce Department said the
foreign trade figures showed the value
of export trade was well maintained
during November, but that import trade
declined sharply.
Exports declined per cent from Oc-
tober, while imports fell off Is per cent.
The excess of exports over imports in
October was $4,000, 900, and in No.
vember last year was s34.366,000 The
foreign trade figures were described as
more favorable than last year
Exports dropped S7,734,000 from the
preceding month and gained S45, 176, 900
from the same month last year.
Imports dropped s22,856, 900 from the
preceding month and gained s23, 500, |
600 from the same month a year ago.
The total exports thus tar this
year were estimated at 81 l,482, ,764, 900,
against 81, ,479, 100000 last year Total
imports were announced as 81, ,315 ,497,-
600 this year, against $1,225, ,687 900
last year.
This was said to give the United
States an excess Of $167, ,267, 900 of ex-
ports for this year, against an excess
Of exports last year of s253,7l5, 900.
Decline Seasonal.
The Commerce Department pointed
out the decline of exports this year was
slightly les sthan seasonal. while i'm
ports, falling Is per cent, showed a
much greater than seasonal drop, the
normal downward movement amounting
to only about 2 per cent;
November marked the third con-
secutive month of advance in the sea-
sonally adjusted index of export
values" the statement said For i'm
ports, however. it was the third con-
secutive month of decrease since the
marked contra seasonal expansion dur
ing the Summer
From its low point IN February,
March and April of this year, the
seasonally adjusted index of export
values has risen about so per cent, and
in November was at AZ per cent of its
1923-25 average. The November i'm
port index in comparison with the same
period showed a greater gain, about SIS
per cent, and was at 40 per cent Of
the same base period"
Liquor Imports Up.
Imports Of wines, liquors and other |
beverages, glass containers and wood |
pulp registered substantial gains over |
October.
Gold exports exceeded imports by
$1,063, 900 during the month. Gold ex-
ports were $2,957 900 against $34,046,-
900 in the preceding month and SIC, 900 |
in the same month last year.
Gold imports were 81 $4,000 against |
$1,696 900 In the preceding month, and |
$21, ,756 900 in the same month q year |
ago.
Gold exports SO far this year totaled |
$355 ,837 900 against imports OF $191,-
23o, 900, as compared with exports Of
S809,5l5,W0 in the same period last
year and imports Of $262.443. 900.
$s,e1e. 900 during the month silver |
exports were $464 900, against $2,28l 900 |
during the previous month and SSH, 900 |
In the same month last year.
Silver imports last month were S4,- |
080,00O, ssainst $4,106,oo0 in the pre-
ceding month and $l,4s4,000 in the
same month last year.
Exports Of silver so far this year |
t--;.-ei 213.451 GOO, against imports Of