Salt Lake Telegram | 1935-12-23 | Page 22 | Gross National Debt Hits Peak

I r I CROSS NATIONAL i t- t DEBT HITS PEAK r. r s. s NEW EW YORK Dec 23 UP Thes The iron gross public debt t federal deral s state Late and t local c f has risen from ia In ii 1932 to around ro at pr the He the National l Conference r 7 present present- sen bard ard s said I In 11 a sl study dy made public today v The The board calculated l that the debt total Including federal and state arid s local Ibcal obligations is equal to one y years year's ars ar's national income at present levels levee and to about one fifth of the national wealth Service on it re re requires quires about 2 OO annually than 20 per cent of at aU all government government gov gov- revenues In tho the past peat two years the board sod aid federal debt charges have amounted to about 3 34 per cent of 01 federal receipts and the ratio of tho the charges In 1934 was 23 p per r cent Comparing this with British figures figures fig fig- ures ures res the study said that the United Kingdom In 1933 had national debt charges averaging 43 per cent of f exchequer e r receipts and about 9 per percent per percent percent cent of national In income ome but abut b t Jt It pointed out that local government debts In Great Britain are rela relatively relatively relatively much smaller than our state and local debt and on on the basis of total debt our position is much less fa favorable