Being Anticipated Washington, Nov, 1
The Treasury Department announced here today that Federal expedi-tures up to October 28 for the first four months of the fiscal year totalled $2,934,000,000, a new record in New Deal spending.
The nearest peace time approach to this record was in 1935 when the Government spent $2,569,000,000.
Treasury experts pointed out, however, that the strong tide of the business upturn, a fresh wave of reem-ployment particularly in the motor car industry, and other favourable business factors would somewhat offset the unfavourable aspects of the Government's heavy spending.
They admitted, however, that there was little reason to expect that Federal fiscal deficit would be much below President Roosevelt's forecast of $4,000,000,000. Some financial experts here predicted that the Government would surpass its 1936 record when the fiscal deficit was $4,360,000,-
000.—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.