Word: debtor
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Dates: during 1930-1939
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...Great Powers started coming to Washington to make refunding agreements, Finland was first to sign up and every year since has punctually sent up to $390,000 to Washington in interest and amortization. Finland in the role of the U. S.'s only non-welshing "war debtor" so impressed the U. S. Congress that in 1935 it voted to spend $300,000 on constructing at Helsinki, the Finnish capital, a splendiferous U. S. Legation of 100% Finnish materials erected by 100% Finnish labor...
Congratulations to TIME on its clear and complete account of the U. S. Visit of the two rulers of a defaulting debtor nation...
...with England, the U. S., and Soviet Russia, but export subsidies to the extent of 30% of the value of all German exports enabled Nazi businessmen to quote speciously attractive prices to the Balkans and South America, regions with surpluses of grain, tobacco, oil, cotton, coffee and cocoa. Between debtor nations the system of subsidized barter might have worked satisfactorily enough, but the Nazis themselves were slow to deliver finished goods in return for foodstuffs and raw materials, and they frequently demoralized world markets for their suppliers by reselling coffee, tobacco, cotton, etc., at knock-down prices in order...
...Shortly a credit association began to dun him by letter. Charging that the letters upped his blood pressure, hindering his recovery, Albert Clark sued for $10,000. The Court of Appeals overruled a motion of the defendants to throw out the suit, saying: "Neither beating a debtor nor purposely worrying him sick is a permissible way of collecting a debt...
Such a tidal wave of foreign-owned securities poured into the U. S. market at the outbreak of war in 1914 that the New York Stock Exchange closed its doors, did not reopen for nearly five months. Since then the U. S. has changed from a debtor to creditor nation and its markets are less susceptible to foreign liquidation. Also since 1914 the Government has acquired, in the Federal Reserve and SEC, a degree of financial control far firmer than even the elder J. P. Morgan could mobilize. Thus last week, as official Washington unofficially talked of war within...