Word: reductionism
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A large part of the report was devoted to an exposition of the Secre- tary's plan for tax reduction (TIME, Nov. 19).
Treasury Department. Secretary Mellon reported a surplus of $309,657,460 for the fiscal year ending June 30, 1923, with a reduction of $613,674,343 in the public debt. This improvement was due in large part to unexpectedly large receipts from income and customs taxes. The Government's revenue...
Farm Relief?"For the most part agriculture is successful, eleven staples having risen in value from about $5,300,000,000 two years ago to about $7,000,000,000 for the current year. . . . With his products not selling on a parity with the products of industry, every sound remedy...
Reduction of principal $ 482,277,975
In view of this increasing surplus, the President in a letter accompanying the budget urged reduction of taxes, and added: "I am not unmindful of the demand for adjusted compensation for soldiers of the World War, which would include among its beneficiaries the able-bodied of our veterans as well...