INGENIOUS SCHEME
(Press. Assn.-
american politician's plan tq oef-set purchases against liabilities METHOD OF BOOSTING EXPORTS
-By Tefegra.ph—
-^Jopyrvght).
Rec. April 14, 5.5. p.m. WASHINGTON, W ednesday. Mr. A1 Smith. ■ addressing a group of D.emocrat leaders at the annual Jeffeyson day ' dihner,» proposed a modified debt cancellation scheme. "Let us- say -to thp nations pf Europe who awe us money," he said "that wa will forget about it for 20 years, and not only will we dp that, but w& will.write off the. debf each year 25 per ce'nt. of the* cost value of America's ■ products which they buy |rpm us, thus, in effect, if a nation purchasefs 100,000,000 dollars woi'th pf pur products, we will forget about 25,0.00,000 dollars of its indebtedness to us."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/RMPOST19320415.2.35.1
Bibliographic details
Rotorua Morning Post, Volume 1, Issue 199, 15 April 1932, Page 5
Word Count
125INGENIOUS SCHEME Rotorua Morning Post, Volume 1, Issue 199, 15 April 1932, Page 5
Using This Item
NZME is the copyright owner for the Rotorua Morning Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in