March 26, 1932, was a dark day for the District of Columbia’s financial future. Maj. Daniel J. Donovan, the city’s auditor and budget officer, painted a grim picture of the government’s financial condition during a hearing before the House Subcommittee on Appropriations on the 1933 appropriation bill. The hearing was a stark reminder that the city’s coffers were rapidly draining, and officials were struggling to keep up with the mounting 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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