In a scathing report, Postmaster General Hays laid bare the grim financial realities facing the United States Postal Service in 1921. The agency was hemorrhaging cash, with a staggering deficit of $157,517,688 at the end of the fiscal year. Revenues, which had seen a paltry increase of $26,341,062 from the previous year, simply couldn’t keep pace with the department’s ballooning expenses.
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Key Facts
- State: National
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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