LOWER INTEREST RATES
U.S.A. £50,000,000,000 DEBTS PASSAGE OF BILLS EXPECTED DEBTOR NATIONS AFFECTED .. WAR DEBTS NOT SPECIFIED By Telegraph—Press Assn.—Copyright Rec. 8 p.m. Washington, Feb. 7. President Roosevelt’s call for a general lowering of interest rates on £50,000,000,000 of public and private debts in the * United States was expected to-night to result in a concerted move to that end both in and out of the Government. Mr. Roosevelt’s view that many creditors would have more assurance of receiving their principal if they reduced interest may provide the needed impetus to pass pending legislation. Among 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 mind. Bills before the Senate which have the House’s approval already would enable corporations and municipalities or other political subdivisions of the States to scale down principal and interest on their debts through agreement with the majority of their creditors.
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Bibliographic details
Taranaki Daily News, 9 February 1934, Page 7
Word Count
160LOWER INTEREST RATES Taranaki Daily News, 9 February 1934, Page 7
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