Word: deficits
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Dates: during 1930-1939
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...proud reputation, knew that it had never before begged publicly for money. A telegram from Clarence Hungerford Mackay expressed more than it said. He simply regretted that he could not be present but everyone knew that in his prosperous days he had quietly made up many a deficit, that he was too proud to go on acting as the Philharmonic's mouthpiece when he could no longer contribute to its support. President Flagler, who learned what an orchestra can cost when he supported the New York Symphony for his friend Walter Damrosch, went specifically into the Philharmonic...
...last week Germany's export and import totals for February. In February, 1933. Germany had had a favorable trade balance of about 30,000.000 marks. Last month it had an unfavorable trade balance of 34.600.000 marks. Examined more closely, however, the figures changed color completely. Reason for the deficit was a 10% decline in German export prices. Actually, figured in quantities, German exports for February, 1934 were well above those for February, 1933, before the boycott began. Furthermore, the high import total was explained by the fact that the Nazi leaders have lately prodded German businessmen to step...
This means that in the fiscal year beginning next July and ending June 30, 1935, for which the President indicated a deficit of $2,000,000,000, we may have a larger deficit than was planned. Between now and that time, however, increased tax receipts and possibly a business revival may take some of the load from the Government, so that the important thing is to focus attention on the deficit of this year...
...discrepancy of more than $4,300,000,000 is the largest in all the history of the United States. It is larger than any deficit of the Hoover years. It comes near being as much as all the Hoover years of depression put together. But the Roosevelt Administration feels that the spending was in good purpose and that business recovery justified the borrowing policy...
...week quite happy over the way preliminary tax receipts are coming in. There is every evidence that receipts will come up to the schedule marked out. But of course there is no thought that receipts will be sufficient to balance the budget as a whole. The carrying of a deficit of $4,300,000,000 is an unprecedented ask for Federal credit, but the refinancing operations have thus far proceeded satisfactorily and, with the diminished amount needed this fiscal year, unquestionably the flotation of longer issues to absorb the maturing short term indebtedness will continue to be the objective...