The Reparation Problem and the World Economic Crisis
The Hoover moratorium on payment of reparations and intergovernmental debts expires July 1. 1932. The financial and economic conditions in Germany which made the moratorium necessary have not yet sufficiently Improved, it is generally agreed, to permit resumption of reparation payments under the Young plan at that time. Chancellor Bruening declared last January that Germany could not continue to make political payments, and in the German budget for the fiscal year 1933, now in preparation, no provision has been made for payment on the reparations account. A conference attended by representatives of Germany and of the nations entitled to reparations is to be held at Lausanne, Switzerland, in June to consider the general situation and to attempt ...