THREE NEW BANKS
MR. ROOSEVELT'S PROPOSAL FINANCE FOR EXPORTERS WASHINGTON, Feb. :S7 President Roosevelt to-day announced his intention of setting up three banks in Washington—one to handle iniports 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. CordelJ Hull. Mr. George Peek, farm administration leader, has been appointed head of the trade banks. ' 5! _ The extent to which President Roosevelt will guarantee payment of Soviet bills lias not been disclosed. , , Mr. Peek warned traders that banks had not been formed to act as Saniia Claus and haiid out presents at home or abroad.
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New Zealand Herald, Volume LXXI, Issue 21742, 6 March 1934, Page 9
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134THREE NEW BANKS New Zealand Herald, Volume LXXI, Issue 21742, 6 March 1934, Page 9
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