WANTS CANCELLATION
AMERICAN ON WAR DEBT NEW YORK, July 29. Dr Nicholas Murray Butler, the eminent publicist and president of Columbia University, has returned from Europe prepared to sponsor a country-wide campaign in favour of the cancellation of war debts. “ Under the present system we take in a few shillings in interest while throwing millions of pounds out of the window,” he said. “It is lovely, but it means ruin.” Dr Butler said, that the American tariff was working against the interests of trade. “We lent Czechoslovakia money at 8 per cent, to start rebuilding the nation,” he said. “ It is a cattle country, with lots of hides, so they started shoe manufacturing. They spent a million pounds in one year installing American shoemaking machinery. Then America’s new tariff placed a duty against them of 20 per cent., when sljoes carried no duty before. Nobody can do business that way.”
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Bibliographic details
Otago Daily Times, Issue 21410, 11 August 1931, Page 10
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150WANTS CANCELLATION Otago Daily Times, Issue 21410, 11 August 1931, Page 10
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