Formal cancellation did not immediately remove the spending controls associated with the Ten Year Rule. Continued Treasury vetoes provide the explanation for restraint lasting beyond 1932. Some departmental vetoes are tentatively traced back to the 1890s, with the timing varying between departments. Calling 1937 the rule's practical end therefore expresses a judgment about when expansion became effective; the formal cancellation had already occurred.
Notable Point · 11:29-12:19
Why cancelling the Ten Year Rule did not end restraint
Continuing Treasury influence explains the distinction between formally ending a rule and changing spending practice.