Federal Finannces and the Restoration of Confidence
Hoover-Mills Pleas for Balancing the Federal Budget
President hoover has stressed the importance of a balanced budget in all of his recent public statements and messages to Congress dealing with government finances. He has held a balanced budget to be the first essential to restored confidence and to business recovery. Likewise, the Secretary of the Treasury has reiterated in a series of public addresses, radio speeches, and newspaper articles that a balanced budget is vital to the whole problem of economic rehabilitation.
To effect a balance of current expenditures with current revenues, many economists are advocating a system of government accounting which would segregate items of capital investment in an extraordinary budget and treat these items on the basis of ...