Word: deficits
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Dates: during 1920-1929
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...increase of postal rates on nearly all classes of mail except first class. A large part of the raise is to be attached to the rates on second class mail-newspapers and magazines-since this class of mail, according to the Post Office Department, has been causing an annual deficit...
...hearings were held on this bill by a joint sub-com- mittee of the Senate and House Post Office Committees. The publishers in force attacked it with a great fanfare of protest; they said it was ruinous, they said second class mail had been wrongly accused of causing a deficit. Postmaster General New declared that the bill was fair and absolutely necessary if postal pay was to be increased...
Deducting from this loss some items of unassignable revenue, the actual loss is about $40,000,000 a year, according to this calculation. The obvious thing to do, under such circumstances, is to boost the rates on services which show large losses?wipe out the deficits on second and third class mail and on registered matter. Then not only would the deficit be made up, but also nearly enough revenue would be provided to make possible the proposed pay increase...
Perhaps this consideration would not prevent Congress from increasing rates so as to wipe out, at least partially, the second class deficit, were it not for the fact that the newspapers and magazines are run by human beings who very urgently resent any curtailment of their profits. The suggestions for raising second class postal rates have been generally confined to increases on the rates for advertising matter* on which publishers receive revenue; but the publishers are no whit appeased. Already, the press is crying aloud that it is abused, saying "the estimate of the second class deficit is too large...
...Deficit...