REPAYING THE WAR DEBTS.
MR. HOOVER'S OPTIMISM. BALANCING THE BUDGETS. NEW YORK, October 17. Mr. H. C Hoover (Secretary of Commerce), in a speech at Toledo, Ohio, declared that repudiation of the United States' war loans to Europe would undermine the whole fabric of international good faith, because the contractual obligation of the nations wae clear. •'I do not approve the cancellation of the war debts/ , added Mr. Hoover.
"Europe's tremendous industries and enormous productivity and the development of scientific knowledge will mean that Kurope must win if given a chane*. 1 am convinced that the war debts can be paid within a rea<onable time without undue strain on the debtor nations. There must be a rearrangement of the economic boundaries of Kurope »nd a reduction of armament a. thus contributing to the balancing of Budgets and th« cessation of inflation. Thee* things would assure the recovery of Kurope and ultimate payment of tlir war loan*."' — (A. and N.Z. Cable.)
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Auckland Star, Volume LIII, Issue 247, 18 October 1922, Page 5
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160REPAYING THE WAR DEBTS. Auckland Star, Volume LIII, Issue 247, 18 October 1922, Page 5
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