Owen Young supports Herbert Hoover's temporary moratorium for German for war debt reparations

The transcript discusses the difficult times faced globally, highlighting issues like unemployment, bad politics, and fear. It emphasizes the interconnectedness of these problems and the resulting bitterness. The silence of America in such times would be discouraging, but the President's proposal to postpone debt payments is seen as a wise and encouraging act. This action restores faith in democracy's ability to act promptly and wisely. The hope is that other governments and private interests will also act to create a prosperous world, as the material resources are already available.

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