THREE NEW BANKS
♦ ( MR ROOSEVELT'S PROPOSAL FINANCE FOE EXPORTERS. . WASHINGTON. February 27. President Roosevelt to-day announced his intention of setting. up three banks in Washington—nine to handle imports and exports with Russia ; another for Cuban trade; and a third for all other foreign countries. The .object is chiefly to help American exporters to finance their shipments abroad. Trade negotiations are almost completed with South American countries as a result of a, visit by the Secretary of State. Mr Cordell Hull. Mr George Peek, farm administration leader, has been appointed head of. the trade banks. The extent to which President Roosevelt will guarantee payment of Soviet bills has not been disclosed. Mr Peek warned traders that banks had not been formed to act as Santa Claus and hand out presents at home of abroad*
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Bibliographic details
Evening Star, Issue 21667, 12 March 1934, Page 3
Word Count
133THREE NEW BANKS Evening Star, Issue 21667, 12 March 1934, Page 3
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