There will be short periods of credit or debit balances. but this is only a temporary affair. Those nat1ons. like the United States. who have prided themselves on selling more commodities than they buy have maintained this position by buying more services than they sold or by sending more gifts than they received. Our immigrants send tremendous funds to their relatives back home. Our investments in repudiated foreign bonds have constituted unwilling but wholesale gifts on our part. Our purchase of marine transportation. the money spent by our tourists in Europe. the interest and dividends we have paid to foreign capitalists have all enabled us to sell more tangible goods than we could buy.
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immigrants