The American Government proposes the postponement during 1 year of all payments on intergovernmental debts, reparations, and relief debts, both principal and interest, of course, not including obligations of governments held by private parties.
Herbert Hoover: “The American Government proposes the postponement during 1 year of all payments on intergovernmental debts, reparations…”
On the recordJune 20, 1931
Source
presidency.ucsb.eduEditor's note · Context
Statement Announcing the Proposal of the Moratorium on Intergovernmental Debts.
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