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Show Federal Gov't Cuts Costs ' At the ena of the last fiscal year on June 30, tne Federal government had a surplus of $185,000,000 in the treasury, five times the estimated surplus. sur-plus. During the year the national debt was reduced $673,000,000 and is now less than 17,000,000,000. The policy oi 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 reduc-ing 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 local units of government, that has multiplied their cost time and again in recent years, is continued. |