Reducing the Public Debt. 86-2, 1960

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1960 - 59 pages
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Page 3 - Be it enacted by the Senate and House of Representatives of the Vnited States of America in Congress assembled, That this Act may be cited as the Bank Holding Company Act of 1947.
Page 24 - STATEMENT OF HON. JIM WRIGHT, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF TEXAS Mr.
Page 14 - Congress enacted legislation which in part made an appropriation for 1 percent of the entire debt to be set apart as a sinking fund for the payment of the national debt.
Page 57 - The payment of the principal of a debt tends neither to impoverish a nation nor to retard its material development ; but, on the other hand, the maintenance of the principal and the constant payment of accruing interest tend to cripple the productive capacity of any people.
Page 2 - ... ensuing fiscal year" in paragraph (6) "and projections for the four fiscal years immediately following the ensuing fiscal year".
Page 18 - STATEMENT OF HON. ROBERT W. HEMPHILL, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF SOUTH CAROLINA Mr. HEMPHILL. Mr. Chairman, and members of the committee...
Page 4 - ... present high price of fuel has caused them to make a more careful investigation of their pumping costs, with the result that in practically every case it has been found that the saving to be made in one year of operation with electric power will be sufficient to pay for the cost of a new installation. It is estimated that by the end of the next fiscal year the total connected pumping load will be approximately 450 horsepower, which, together with the lighting and power load in the towns where...
Page 1 - The Board shall prepare and submit to the President, and, at the same time, to the appropriate committees of Congress, an annual budget of the expenses and other items relating to the Board which shall, as revised, be included as a separate item in the budget required to be transmitted to the Congress under section 201 of the Budget and Accounting Act, 1921 (31 USC 11). " (k) The Board shall submit to the President, and, at the same time, to...
Page 58 - ... us, and poor enough to put us on guard. During the 154 years from 1792 through 1945 we have had ninety-three years of net surplus in our national budget and sixty-one years of net deficit. 8. Throughout our history the greatest obstacles to national financial strength, and the most acute dangers of fiscal collapse, have never been the results of inadequate or failing resources, but always consequences of weak financial policies. Increasing national wealth has always enabled us to pay down the...
Page 3 - To provide that until the national debt is retired, not less than 10 per centum of the net budget receipts of the United States for each fiscal year shall be utilized solely for reduction of the national debt...

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