Show expenditures OUTRUN TAXES tn in 1932 government federal state and ocal collected in taxes total came to over 10 40 per rent cent more thin was received what is litho lit mit t 1 I K a stir vey recently ir the he a lional industrial conference hoard board which shows the gravity of 0 tile the lirt tan len in cold statistics the me discrepancy between receipts an and d expenditures is for ly by the issuance of bonds which ar are L simply promises to pay on some tu fu ture date it if they hy the federa they are a leral leni lien against nit nil the assets of the nation against aroln st every business every home every income every in vestment it they are issued by a state nr fir municipal government go eminent or a district they amount to a similar lien against al property in the region concerned tile the whole credit ere lit of the geographical unlit unit represented Is pledged to their payment there here are excellent reasons for or be lievin lievens that we nt fit present are rapidly spending ourselves into bankruptcy current taxes are reaching the point where justness business and individuals can no longer pay and future commit ments must inevitably result in sit 1 I lil higher aher I faxes axes unless the spen ling orgy is stopped |