SETTLING OUR ACCOUNTS WITH THE SUBSIDIZING GOVERNMENTS AND THE BELGIAN DEBTS TO THE UNITED STATES
Winding up the C.R.B. was a long and tedious job which took until February, 1927, when we received the auditors' final statement. Our first task after the completion of Relief deliveries was to settle our accounts with the subsidizing governments--that is, Britain, Belgium, France, and the United States.
As I have stated earlier, at the very beginning of the Commission in October, 1914, we had placed both its accounting and auditing in the responsible hands of Deloitte, Plender, Griffiths & Company, an international firm. They carried on this work until the very end without pay, except for the salaries of the men assigned to our offices.
We had two distinct sources of funds: on the one hand, those which came from charity and the profits made by the Commission, and on the other, the subsidies from governments.
On May 10, 1919, I sent the Treasury officials of Belgium, France, and the United States a long memorandum detailing how we proposed to liquidate our complicated accounts. The major points of my proposals were that the auditors should present a certificate covering in detail the application of all subsidies, separately for Belgium and Northern France, together with a statement of the supply shipments to each of them; that we should retain all "profits" for allocation to charitable purposes in the two countries as we might determine; that since after the Armistice the Relief had been mostly paid for by the
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Book title: An American Epic. Volume: 1. Contributors: Herbert Hoover - Author. Publisher: H. Regnery Co.. Place of publication: Chicago. Publication year: 1959. Page number: 419.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.