Harding names Hoover to War Debt Commission
Citations (1)
- All the Presidents' Bankers: The Hidden Alliances That Drive American Power whole source · open book
In February 1922, Harding appointed Hoover to the new World War Foreign Debt Commission, designed to settle the Allies’ debts based on “their capacity to pay.” The total debt owed the US government was about $11 billion, 40 percent of which had been lent after the armistice.
chapter: Chapter 4: The 1920s: Political Isolationism, Financial Internationalism