which statement is a correct description of the hoover moratorium?
The Hoover Moratorium was a public statement issued by US President Herbert Hoover on June 20, 1931, who hoped to ease the coming international economic crisis and provide time for recovery. Hoover's proposition was to put a one-year moratorium on payments of World War I and other war debt which would postpone the repayment of both capital and interest. Many were outraged by this idea. The statement was met with disapproval from France and many US citizens but went on to gain support from 15 nations by July 6. It was approved by the US Congress in December. However, it did not do much to slow the economic downturn in Europe.