Word: budgets
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Dates: during 1930-1939
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...Gooderham Acheson, 41, native of Connecticut, resident of Maryland, lawyer of Washington. Secretary Woodin did not meet the man who was to be his chief fiscal adviser until after the appointment was made. Largely responsible for Mr. Acheson's selection was his good young friend. Director of the Budget Lewis Williams Douglas, whose word has impact at the White House. Long familiarity with intricate tax cases comprised the new Undersecretary's principal qualification...
British business's chief interest in the Budget was, did it balance? According to the Government's own figures it did, with the promise of a rosy surplus of ?1,291,000. BUT last year's Budget was supposed to balance too and Chancellor Chamberlain admitted a ?32,000,000 deficit. Rather acidly Chancellor Chamberlain pointed out that this deficit would have been a mere ?3,000,000 but for War Debt payments to the U. S. Despite increased taxation, tax returns dropped sharply last year. Most observers felt that only a U. S. moratorium...
...plain enough that unless drastic steps are taken to reduce expenditure, orthodox finance will soon become impossible. Meanwhile Mr. Chamberlain is in a sense making the worst of both worlds, for his Budget contains neither the anodyne of inflation nor the virtue of retrenchment. Indeed, the Budget seems confined to inflationary expenditure with deflationary taxation in a precarious equilibrium...
First reason for all this is that France needs money. Despite the vast hoards of gold in the deep cellars of the Bank of France, the French Government has a budget deficit to hold its own with any in the world, and must raise 5,000,000,000 francs by July 1. Another internal loan would be a risky business. To charm the francs from Jean Frenchman's famed sock to float the last one, the Government was forced to offer 4½ bonds at 98½ with the costly promise to redeem at 150. France therefore gets...
With the decreased operating budget of the University, however, it is felt by the University to be good policy to dispense with the office. Plans are not yet definite as to who will perform the present duties of the Adviser in Religion, but it is believed that they will once more be assumed by the Board of Preachers...