US Treasury Under Secretary, Ogden Mills, press conference on the Hoover Plan for moratorium on repayment of World War I war debts.
USA: Washington DC:
Ogden Mills (US Treasury Under-Secretary) press conference SOT
- present depression is world wide / the conditions in other countries, more severely affected than our own, retard our recovery
- usually there is little govts can do but inter-governmental debts are definite in form and their immediate impact can be suspended
- amounts, which under normal conditions are not burdensome, weigh heavily in a period of depression and both psychologically and actually, are a real barrier to recovery
- the president's programme will afford the world a much needed breathing space
- his leadership will, in my judgement, go a long way towards restoring the confidence without which an early recovery from the current depression is impossible
Background: US Treasury Under Secretary, Ogden Mills, press conference on the Hoover Plan for moratorium on repayment of World War I war debts.
Herbert Hoover (US President 1929-1933) / politics / defence / economy / international relations