Laserfiche WebLink
<br />MR. CARPENTER; You put that as an alternativoto a. ton yoar <br /> <br />period? <br /> <br />I,m. NORVIEL: ]'or thetenyoar period, four. and a half mil- <br /> <br />., <br /> <br />lion is half. <br /> <br />* <br /> <br />MR. HOOV.8R: Vlhat Hr. Norviel meaps is for anyone year <br /> <br />tho minimum shall not be,less than four million for a five year <br /> <br />period, or loss than ,four"and a half ,a year for a ten yoar poriod. <br /> <br />lat. S. B. DAVIS: The difficulty ,with eighty-two million,. <br /> <br />as I have said, is that. we already havo experienood ton years in <br /> <br />which it would have boen impossible feir us tooomply.. <br /> <br /> <br />HR. HOOVER: The diffioulty is iriguarantoeing in tho faco <br /> <br />of an unknown quantity? <br /> <br />!.lR. S. B. Dl"VIS: Yes sir. <br /> <br />MR. HOOVER: Vllien you go to guaranteeing something, you want <br /> <br />to be suro you oan oomply with the gurranty. <br /> <br />. <br /> <br />1m. EMERSON: Mr. Chairman, I oap't,concoive of any plan that <br /> <br />* <br /> <br />will not amount to a guaranty, and if we have any' guaranty i t'is <br /> <br />going to be up to the upper statos to deliyerwhat,isagreod on., <br /> <br />lill. HOOVER: It is an unders tan4ing, ,net a gU<1rarity.' <br />I <br /> <br />!.lR. ElfBRSON, Well, an undertaking amounts to. a guaranty. or <br /> <br />it would be of ne value. <br /> <br />1ill. HOOVER, If you undortako to givo moro than forty or <br /> <br />fifty per cent it is not a guaranty.; <br /> <br />. <br /> <br />Jill. ElilERSON: Supposo we don't give what we agree to give <br /> <br />. <br /> <br />under th.is oompaot, what happons? In effoct it SC0ms to me a <br /> <br />guaranty to do eith0r thing. <br /> <br />102 <br /> <br />17th-S.F. <br />14 <br />