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Statement on Progress Toward the Settlement of German Reparations by the Committee of Experts in Paris.

May 31, 1929

IN ANSWER to questions by the press on the settlement of the German reparations, the President said:

"It is a very notable contribution to stability and to progress, and I think the American people should be gratified at the contribution which Messrs. Young, Morgan and Lamont have made to bring it to a successful conclusion."

Note: Owen D. Young and John Pierpont Morgan were American members of the Committee of Experts selected by the German, Belgian, French, British, Italian, and Japanese Governments to draw up a plan for the final settlement of German reparations. Thomas W. Lamont was appointed as an alternate member. The Committee began meetings in Paris in February 1929 and its final report was signed on June 7, 1929. Mr. Young served as Chairman of the Committee and its report was commonly referred to as the Young plan.

Herbert Hoover, Statement on Progress Toward the Settlement of German Reparations by the Committee of Experts in Paris. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/210603

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