He said the Treasury Department proposes {o ask Congress to extend ihe statutory limit on the national debt from a maximum of $45,000,000,- 000 to $60,000,000,000 and possibly '$85,000,000,000.
The total government debt, he said, might hit $85,000,000,000 by June 30. 1942. Mr. Morgenthau declined to estimate government expenditures for the next four years, however. We have just begun to rearm, he said.
Mr, Morgenthau told the press that additional government borrowing up to June 30, 1942, would amount to approximately $15,000,000,000 or $20,- (000,000,000.
Text read from the printed page and cleaned; old type leaves the occasional error.