Word: deficits
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...month before Franklin Roosevelt's $8,995,000,000 1940 budget appeared, conservative Democrat Harry Flood Byrd of Virginia issued an anticipatory blast at continued deficit financing. Federal Reserve Chairman Marriner Stoddard Eccles replied to him in a letter that filled three newspaper columns (TIME, Jan. 2). Last week as Congress took a savage nibble at the President's special Relief budget (see p. 77), Senator Byrd replied to Mr. Eccles in six newspaper columns. Juiciest points of Byrd answers...
...With respect to your general doctrine that a deficit will bring about business recovery, I call your attention to the fact that Mr. Hoover did very well in this matter. He had a deficit of $3,153,000,000 in 1932 preceded by a deficit of nearly a billion...
Most important business event of last week was the opening of Congress and the jack-in-the-box stockmarket which it produced. Up on Franklin Roosevelt's mild opening message, stocks flopped on the next day's offering of his 1939 budget figures, with their near-record deficit...
...Germany was able to build up a favorable balance of 422,000,000 marks ($168,000,000). In 1938 this favorable balance has been wiped out and Germany's imports have grown to 398,000,000 marks ($159,200,000) more than her exports. Over half of this deficit was due to Austria's annexation, the remainder partly to the world-wide anti-German boycotts, partly to the huge imports of war materials...
...Also short on cash are: 1) Italy, where the 1939-40 budget last week revealed that during the next fiscal year Italy will suffer an unexpected 4,755,000,000 lire ($237,750,000) deficit, largely due to arms expansion; 2) France, where the Chamber of Deputies last week worked on the greatest arms budget since the World War which, in its ordinary and extraordinary appropriations, upped last year's budget...