POLITICS: PM, Ramsay MacDonald statement on war debts (1931)

BRITISH PARAMOUNT NEWSREEL (REUTERS) To license this film, visit Rt Hon Ramsay MacDonald, PM, outlines Empire’s policy on US President Hoover’s offer on war debts, in historic statement at 10 Downing Street. Full Description: SLATE INFORMATION: Premier on War Debts ENGLAND: London: Downing Street: INT Ramsay MacDonald (Prime Minister) sitting at desk reading statement SOT - saying Pres. Hoover’s proposal to suspend war debt payments is a wise and courageous one and will contribute it is hoped to the revival in world trade. Reparation and debt payments have distrubed the natural flow of trade, have upset the economic distribution of gold and left countries in difficulties. This country responded to Hoover’s appeal. Payments to America under that scheme shall be suspended. We shall also suspend the payments of debts to us by foreign countries. South Africa by generously refusing to