The Archive · 1931

China Faces Huge Deficit

Maintenance of Army the Main Cause Nanking, Aug. 17.

A heavy deficit, estimated at over! '$280 millions, will be faced by the Government in the budget for the 20th fiscal This big deficit, it is stated, is due largely to the! heavy military expenditure which will have to be incurred for th: maintenance of the colossal army Jas well as to the fact that the new taxes, in lieu Of likin, have not yet been in full operation.

The Legislative Yuan is upderstood to have recommended to the National Government that strict economies be enforced in order balance the budget—Kuo Min.

Text read from the printed page and cleaned; old type leaves the occasional error.

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