Show DEfiCIT NEARS I THREE J Figure Is More Than Double Last Years Year's Total Is 16 Up To May 1 1932 The federal government entered enter enter- ed cd the last month of the present fiscal year with a deficit of 2 the treasury announced ed last week In its daily dalIy state slate statement ment for May 31 The he present deficit compares with on the corresponding corresponding corresponding corres corres- date last year and a deficiency for the entire entire entire en en- tire fiscal of 1931 Receipts for the first eleven months of this fiscal year totalled while expenditures have amounted to On the corresponding date last year the receipts and expenditures expenditures expenditures expendi expendi- tures were and 3 respectively ly In the present fiscal year more money has been spent by the government government government gov gov- than during the past fiscal fiscal fiscal fis fis- fis- fis cal year despite sharp reductions in revenue Chief declines in receipts this year include Income tax as against Customs as against Miscellaneous internal revenue as against Principle increases in expenditures expenditures expenditures expendi expendi- tures include Refunds of internal revenue amounting fo 0 as compared compared compared com com- pared with Postal deficiency amounting to as compared with In m addition the treasury has subscribed to the Reconstruction Finance corporation and has been subscribed ed to stock In federal land banks In addition the government has been without received from foreign war debt obligations during 1931 which were postponed ed during the present fiscal year yearby yearby yearby by the year one-year moratorium The outstanding public debt on May 31 was as compared with on the same date a year ago |