On this principle the Treaty of Versailles (Art. 232) provided that in accordance with Germany's pledges already given as to the complete restoration for Belgium, Germany should undertake, in addition to the compensation for material damage, to make reimbursement of all sums which Belgium had borrowed from the Allied and Associated Governments up to November 11, 1918, together with interest at 5 per cent per annum on such sums.
Special Message to Congress on Acceptance of German Bonds for Belgian War Debt
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We shall not witness an immediate satisfactory adjustment of domestic and international trade relations.
For many months there has been a demand that war agencies should be abolished and that there should be less Government interference with business.
One does not pay a compliment to the American farmer who attempts to alarm him by dangers from foreign competition.
We have been vigorously building up a great merchant marine and providing for improvement of marketing in foreign countries by the passage of an export trade law.
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