USA: 1931: Owen D Young reads statement for postponing German debt payments (1931)

BRITISH PARAMOUNT NEWSREEL (REUTERS) To license this film, visit Owen D Young reads statement, on behalf of US President, Herbert Hoover, proposing a one-year moratorium of German payments of the Young Plan. (The Young Plan was a programme for settlement of German reparations debts after World War I) B/W footage Full Description: July 1931 USA: EXT Owen D Young (American industrialist and diplomat) reading statement on the Young Plan SOT - these are bad times in the world / we have bad business and unemployment, bad temper and bad politics / each reacts on the other so that many suffer from want and more from the fear of it / bitterness and suspicion result / naturally we are in the mood to arm and not disarm, to tear down and not to build up and so we destroy our own prosperity - the silence of America at such a time would be most discouraging / now she has spoken through the president / persons of all parties stand by as they