ABSTRACT
President Hoover's Message introduced a new stage in the treatment of the international indebtedness. The scheme of Reparation payments was drawn up under the pressure of the victor, who wanted his money back just as a private person would want to see again at some time or other the money he has lent out. The British suggestion simply to write off all war debts was rejected by the United States. For the majority, however, of the trained economists that view is just childish. They see no connection whatever between Reparations and the crisis in world trade and industry. The revival of trade which was confidently anticipated as a result of the announcement of the year's moratorium for Reparations and war debts has not come to the expected extent. A much more radical repudiation of all connection between crisis and Reparations has been published by the Temps.
