Annual Report of the Secretary of the Treasury on the State of the Finances

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Excerpt from Annual Report of the Secretary of the Treasury on the State of the Finances: For the Fiscal Year Ended June 30, 1968This sharp improvement in the balance of payments was extremely welcome. However, transitory elements were responsible for some of the improvement. Furthermore, the composition of the balance was far from ideal. A large part of the improvement was attributable to foreign capital in¿ows whose continuation on that scale was far from assured. The trade account did begin to show signs of improvement after the second quarter but was still at very low levels. It was clear that a pro longed effort would be required to rebuild the trade surplus to a satis factory level. A period of moderate domestic growth and a return to a less in¿ationary environment would be of great help in strengthening the trade position.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.