Washington, June 6.
The Senate has passed the Reverie Bill which is Mesigned balance the United States budget. The bill was approved by the House of Representatives. last Saturday.
This Dill will raise an extra $1,119,000,000 towards balancing the Budget and then drastic cuts in expenditure will be made to cover the remaining, $6,000,000 needed, astor ding to Treasury experts, balance the bullet.
The. Treasury estimated that without the Revenue Bill and ex: penditure cuts, the deficit this ould seech the appalling figure of was a sigh of age of the bill expressed to-das when it was announced that Ge tral Charles G. Dawes had resigned the chairmanship of the Resonstruction Finance Corporation. which been' increased te This institution, the capacity of $$5,000,000,000, was organised to facilitate the extension of credit that industry could get under way. ogum and so lift Ame: ica out of iter period of depression.
General Charles Dawes, when he nished the ambassadorship to placed head of Tu resigning, General Dawes explains that he is anxious to return his banking business in Chicago.
President Hoover has accepted the Fesignation—Rester. one 8 The Senate to-day passed the Economy Bill but it, substituted President Hoover's "playless furlough"" plan for" Government salaries instead of the proposed 10 percent, flat reduction of all Salaries of over, G.$1,000 annually. Te was estimated that this measure will "save "between -G.8145,000,000 fand_G.$150,000,000 0 year—Unit Press,
Text read from the printed page and cleaned; old type leaves the occasional error.