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and France relieved
Germany of its reparation obligations, subject to their being able to reach an agreement with the United States concerning their own outstanding war debts. Although the United States Congress voted against the proposal to relieve France and the United Kingdom of their debt, they
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The proposal was met with mixed reactions. Germany welcomed the relief, but other nations resisted, particularly France, which was heavily reliant on German reparations to service its own war debts, and many
American citizens. After much telephone lobbying by Hoover, it had gained support from 15
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A few of the former Allies continued to make payments to the United States after the moratorium expired, but only
Finland was able and willing to meet all obligations. A committee formed under the terms of
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The moratorium did little to slow the economic downturn in Europe. Germany was caught in a major banking crisis, Britain left the gold standard – the US would follow suit in 1933 as part of
President
78:– a previous reduction in Germany's reparations schedule – concluded that Germany would not be able to meet its obligations and recommended that they be permanently cancelled. At the
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never restarted payments, since previously German reparations had been used for the purpose, and the economic conditions militated against
Germany being able to do so in the future.
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Banholzer, Simon, and Tobias
Straumann. "Why the French Said ‘Non’: A New Perspective on the Hoover Moratorium of June 1931."
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in 1917/18. The moratorium was the result of a proposal issued on 20 June 1931 by United States
President
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Matera, Paulina. "The
Question of War Debts and Reparations in French-American Relations after WWI."
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Pemberton, Jo-Anne. "The Hoover Plan, Reparations and the French
Constructive Plan." in Pemberton,
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obligations and of the repayment of the war loans that the United States had extended to the
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Reinhart, Carmen M., and
Christoph Trebesch. "Sovereign debt relief and its aftermath."
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Statement on the Moratorium on Intergovernmental Debts and Reparations of 06 July 1931
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History of the foreign relations of the United States
146:Banholzer, Simon; Straumann, Tobias (2020-11-17).
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264:The Story of International Relations, Part Two
327:Aftermath of World War I in the United States
266:(Palgrave Macmillan, Cham, 2019) pp. 185-277.
43:that was intended to ease the effects of the
16:Suspension of German war reparations payments
273:Journal of the European Economic Association
55:nations by 6 July. It was approved by the
229:Text of 20 June 1931 moratorium statement
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31:was a one-year suspension of Germany's
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302:Aftermath of World War I in Germany
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198:To Hell and Back: Europe 1914–1949
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152:Journal of Contemporary History
254:Humanities and Social Sciences
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307:Presidency of Herbert Hoover
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256:21.23 (2) (2016): 133-143.
107:Lausanne Conference of 1932
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322:1931 in the United States
312:1930s in economic history
164:10.1177/0022009420949924
23:President Hoover in 1928
249:56.4 (2021): 1040-1060.
33:World War I reparations
275:14.1 (2016): 215-251.
57:United States Congress
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134:"Hoover Moratorium"
64:Franklin Roosevelt
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113:References
102:Young Plan
97:Dawes Plan
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172:0022-0094
196:(2016).
91:See also
68:New Deal
277:online
258:online
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