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Foreign debts. About $12,000,000,000 is due to our Government from abroad, mostly from European governments. Great Britain, Finland, Hungary, Lithuan… - Calvin Coolidge
" "Foreign debts. About $12,000,000,000 is due to our Government from abroad, mostly from European governments. Great Britain, Finland, Hungary, Lithuania and Poland have negotiated settlements amounting close to $5,000,000,000. This represents the funding of over 42 per cent of the debt since the creation of the special Foreign Debt Commission. As the life of this commission is about to expire, its term should be extended. I am opposed to the cancellation of these debts and believe it for the best welfare of the world that they should be liquidated and paid as fast as possible. I do not favor oppressive measures, but unless money that is borrowed is repaid credit can not be secured in time of necessity, and there exists besides a moral obligation which our country can not ignore and no other country can evade. Terms and conditions may have to conform to differences in the financial abilities of the countries concerned, but the principle that each country should meet its obligation admits of no differences and is of universal application.
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About Calvin Coolidge
John Calvin Coolidge Jr. (4 July 1872 – 5 January 1933) was the 30th president of the United States (1923–29). A Republican lawyer from Vermont, Coolidge worked his way up the ladder of Massachusetts state politics, eventually becoming governor of that state. His response to the Boston Police Strike of 1919 thrust him into the national spotlight and gave him a reputation as a man of decisive action. Soon after, he was elected as the 29th vice president in 1920 and succeeded to the presidency upon the sudden death of Warren G. Harding in 1923. Elected in his own right in 1924, he gained a reputation as a small-government conservative.
Biography information from Wikiquote
Also Known As
Birth Name:
John Calvin
Alternative Names:
John Calvin Coolidge Jr.
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John Calvin Coolidge
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President Coolidge
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J. C. Coolidge
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C. Coolidge
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Silent Cal
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Silent Cal Coolidge
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Additional quotes by Calvin Coolidge
At a time when all the world is seeking for the adjudication of differences between nations, not by war, but by reason, the suggestion that we should limit the jurisdiction of our domestic courts is reactionary in the highest degree. It would cast aside the progress of generations to begin again the contest for supremacy between executive and legislature. Whichever side has won in that struggle, the people have always lost.
It is my belief that those who live here and really want to help some other country, can best accomplish that result by making themselves truly and wholly American. I mean by that, giving their first allegiance to this country and always directing their actions in a course which will be first of all for the best interests of this country. They cannot help other nations by bringing old world race prejudices and race hatreds into action here. In fact, they can best help other countries by scrupulously avoiding any such motives. It can be taken for granted that we all wish to help Europe. We cannot secure that result by proposing or taking any action that would injure America. Nor can we secure it by proposing or taking any action that would seriously injure some European country.
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