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Show FEDERAL GOVERNMENT CUTS COSTS. At the end of the last fiscal year on June 30, the federal government had a surplus of $185,000,000 in the treasury, five times the estimated surplus. During the year the national na-tional debt was reduced $673,000,000 and is now less than $17,000,000,000. The policy in retrenchment in federal fed-eral expenditures, established a few years ago, has resulted in the conversion con-version of savings into tax reduction for the people. Within eight years nearly two million people have been relieved entirely of federal taxation. President Hoover has announced that a careful study is being made to determine the possibilities for 'reducing 're-ducing federal taxes in the future. This will probably be done, but it will be of little direct benefit to the public if the orgy of spending by lesser units of government, that has multiplied their cost time and again in recent years, is continued. |