The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1931-06-22
Plan to Suspend
Reparations Aids
Business Revival
Continued from page one)

\COIlCIlu6Q lTOIu pdSc OlICI
there Is not time for an international
discussion of the proposed one-year
moratorium.
He added that all interested ma
tions had been informed through
diplomatic channels Of the presidents
proposal.
While President Hoover declared
PREPARATIONS was wholly a European
problem and war debts owing Amer
lea were settled upon a basis not con-
tingent upon PREPARATIONS, he made
his M year moratorium offer condi-
tional upon suspension Of payments
on r%eparations and other %intergov-
| ernmental debts.
Subject to confirmation by con-
gresS, the American government Will
postpone all payments upon the debts
of foreign governments to the Ameri-
can government payable during the
fiscal year beginning July l next.
conditional on a like postponement
for n year of all payments on in
tergovernmental debts owing the i'm
portant creditor nations"
The president said his course Of
action was entirely consistent with
the policy which we have hitherto
| pursued.
I'VE are not involved in the discus
sion of strictly European problems.
of which the payment Of German
r%eparations is one" he said. 1T rep
resents our willingness to make a
contribution to the early restoration
| of world prosperity in which u own
people have so deep on interest"
Would Cost Huge Sum
A moratorium on all debts would
cost the United States about $245,-
O00, 900 during the year. and France
in the neighborhood of 500, 000. 900.
Germany's payments ordinarily would
! amount to about $425, 000, 600.
In studying his plan to aid economic
recovery by helping distressed Ger
many, President Hoover sought de-
tailed information as to conditions
in that country. Declinig to rely
upon available information, he went
directly to President Won Hindenberg,
The reply was considered confidential,
but Secretary Stimson said its de-
| scription of conditions corresponds
to that obtained from other official
and private reports and which is pub
licly current"
Washington was pleased by the
German attitude as explained by For
eign Minister Curtius because 1t con-
tanned a friendly expression toward
France.
AS he awaits Frances consideration
President Hoover has approval for
his plan from Owen D. Young, for
whom the present war-debt plan was
named. Young said:
Sees Action As Wise
1.-THE proposal to postpone all debt
payments. even for a year, is not only
the act of a wise creditor but the
helpful word of a great democracy
Coming at a time when We all were
beginning to doubt whether a de.
mocracy could act promptly. wisel,
and helpfully, it is most encouraging
Then, too, the president has tn
promised support of 81 members o
the senate and Is members of thu
house, all of whom believe the con
gress meeting early in December viii
have time to approve the necessar,
legislation before the next payment
are due December is.
But there had been no announce
ment from the titular Democrat
leaders in either branch of congress
Senator Robinson of Arkansas an
Representative Garner of Texas re
served comment. Some members o
their party said they believed the tw.
leaders were awaiting o informa
ton.