OCR Text |
Show Fiscal Tear By an act of congress, August 26, 1842, June 30 was fixed as the end of the government's fiscal year. This date was chosen because the secretary of the treasury is required by law to make a report on the condition of the treasury when congress con-gress assembles. His only alternative alterna-tive since congress assembled early in December (not until 1934 was the date of convening moved to January) Janu-ary) was to give an incomplete report re-port for the current calendar year or to submit a report almost a year old. June 30 was fixed as a date which would enable him to prepare pre-pare a complete report for congress on time. |