RECOVERY PLAN
RATES OF INTEREST PRESIDENT CALLS FOR REDUCTION Tress Association—By Telegraph—Copyright. WASHINGTON, February 7. President Roosevelt’s call for a general lowering of interest rates on, the 250,000,000,000 dollars of public and private debts in tbe United States was expected to-night to result in a concerted move to that end, both in and out of the Government. President Roosevelt’s view that many creditors would have more assurance in getting the principal if they reduced the interest may provide the needed impetus to pass the pending legislation. Among .the debts mentioned were those owed by other nations. No single country was specified, and it was not made clear whether the President had war debts in his mind. Bills before the Senate, which have the House approval already, would enable corporations and municipalities or other political subdivisions of States to scale down principal and interest on their debts through an agreement with a majority of their creditors.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19340209.2.62
Bibliographic details
Evening Star, Issue 21641, 9 February 1934, Page 9
Word Count
155RECOVERY PLAN Evening Star, Issue 21641, 9 February 1934, Page 9
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in