Show 1 MON MONDELL ELl SOUNDS WARNING AGAINST INFLATED CREDIT Financial Crisis Is Facing n United States House Leader Advises Er Dr Brake St Washington April 5 Probably the worst o t financial 1 crisis In fn the tho nations nation e history Is approaching unless Con Congress ess finds a 3 way to cut down expenditures according to a a. st statement by Represent t tl o Frank Fronk W. W Yo Mondell ondell of oC Wyoming majority leads leader of oC the House toda today A floating Indebtedness of oC more th than n two overhang overhang over o and a L halt half billion dollars war h hang constitutes a serious menace co to American finance Mr r. r Mondell ondell said He Tic warned against o In recent optimistic reports based on tho the fact that during tho the month of ot Marco there was a reduction of or approximately oo in the tho floating debt This reduction was due duo to the thc fact act that this government paid a largo large quantity of or time short certificates as I they tho- became due out of oC the first In Installment Installment Installment In- In of or the Income and anti excess profits taxes but the tho he treasury treasur Immediately Immedi entered the market for a n. lar largo o volume of or loans on time short certificates certificates cates at Increased rates of or Interest t Mr r. r in his statement compliments compliment compliments com com- treasury officials for or their conduct of oC the tho present dan dangerous crous financial financial finan finan- n- n cial cl situation and antI added But the treasury cannot perform miracles and t tho the best st management of ot the treasury cannot avert ort disaster un unless tin tin- less we I keep public expenditures within with with- un-I un in inn our Income The country countr can only hope to avoid old a a. financial panic b by keeping tures turCs for th the thC fiscal year rear beginning June Tune 30 0 well within our income according according ac nc- ac- ac cording to the House leader Unless we wedo wedo wedo do this this declares Congressman Con Mondell ondell conditions we ae are arc Inviting In treasury treasur which acting upon the financial situation situ situ- situ situation atlon In the country will bring nationwide na- na wide Ion disaster ho ad added ed |