America And the Balance Sheet of Europe
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The payment in full of Allied debts and of reparations — if it were possible — would accordingly force a readjustment of trade and industry in the nations receiving the goods of unprecedented severity.
It may be objected that the United States might receive 224 THE REPARATIONS DILEMMA the payment of the principal of the AIHed debts of some 14 bilHon dollars in very gradual instalments, and thus minimize the shock to industry. But the same objection cannot be made with reference to reparations. ...It is stipulated in the bond that Germany must begin payments at once and at the annual rate of $500, 000, 000 plus 26 per cent of the value of the total exports. It is important to bear in mind, moreover, that the interest alone on the Allied debts to the United States amounts to about $700, 000, 000 annually, and that if Europe were to cease further borrowing and merely commence the payment of interest, the United States would find itself with an adverse trade balance of about $700, 000, 000 annually.
What to read after America And the Balance Sheet of Europe?
You can find similar books in the "Read Also" column, or choose other free books by John Foster Bass to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The payment in full of Allied debts and of reparations — if it were possible — would accordingly force a readjustment of trade and industry in the nations receiving the goods of unprecedented severity.
It may be objected that the United States might receive 224 THE REPARATIONS DILEMMA the payment of the principal of the AIHed debts of some 14 bilHon dollars in very gradual instalments, and thus minimize the shock to industry. But the same objection cannot be made with reference to reparations. ...It is stipulated in the bond that Germany must begin payments at once and at the annual rate of $500, 000, 000 plus 26 per cent of the value of the total exports. It is important to bear in mind, moreover, that the interest alone on the Allied debts to the United States amounts to about $700, 000, 000 annually, and that if Europe were to cease further borrowing and merely commence the payment of interest, the United States would find itself with an adverse trade balance of about $700, 000, 000 annually.
What to read after America And the Balance Sheet of Europe?
You can find similar books in the "Read Also" column, or choose other free books by John Foster Bass to read onlineMoreLess
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