U.S. Recovery Hastening Policy
NEW YORK, June 24
Ostensibly convinced that the lending and spending programme of 1938 has not been sufficient to cope with the economic recession, President Roosevelt has announced a new lending programme involving more than 3,680.000,000 dollars in order to hasten recovery, says a message from Washington. The new outlay, however, will be financed outside the regular Budget and will be devoted exclusively to self-liquidating projects. The lending of 500,000,000 dollars to
foreign Governments for two years under Mr Roosevelt’s programme is; interpreted as the first move to employ the United States’ money power against the totalitarian States’ subsidised export system. The eventual mobilisation of idle bank credits for the campaign is envisaged. It is anticipated that the bulk of the money will go to the South American republics.
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Northern Advocate, 26 June 1939, Page 9
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133U.S. Recovery Hastening Policy Northern Advocate, 26 June 1939, Page 9
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