THE PRESIDENCY: The Hoover Week: Jul. 18, 1932

President Hoover found himself in an uncomfortable position last week as a result of the Lausanne Conference at which German Reparations were scaled down to $714,000,000 or 1¢ on the original $1 (see p. 13). Officially the U. S. Government refuses to recognize any connection be tween Germany's indemnity to the Allies and the Allies' repayment of War Debts to the U. S. Yet all the world knows that Reparations are the source of European debt payments to the U. S. The President has declared against cancellation but not against reconsideration of debtor...

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