Word: embargoed
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...days later, Jesse Jones announced an Export-Import Bank loan of $25,000,000 to stabilize Chinese currency-for weeks Financier T. V. Soong has haunted Washington, working for a $100,000,000 loan. There was nothing out of the ordinary when President Roosevelt next decreed a complete embargo on shipments of scrap iron and steel to Japan. In the midst of these moves, whose only distinction was that they were coming more rapidly than in the past, U. S. citizens read that Japan, Germany, Italy had signed a ten-year pact to protect the "new order" in Europe...
Before embarking on a political course which may yet bring war with the U. S., Japan took one last look backward. Foreign Office spokesmen spoke regretfully of U. S. hostility to Japanese aims, of continued pressure culminating in last week's embargo of scrap iron. Japan is still not abandoning hope of improving relations with the U. S., said the Foreign Office's Spokesman No. 1, slightly cockeyed, definitely popeyed, swart, squat Ya-kichiro Suma...
...single stroke practically sewed up the western flank. The eastern flank, comprising the Philippines and The Netherlands Indies, was also partially blanketed-by the three-way pact. The pact was largely directed at the U. S., and in Washington it was believed that an extension of the U. S. embargo to cover oil would mean an immediate Japanese move on Borneo, Sumatra and Java...
...steel scrap, except to Great Britain (now U. S. scrap customer No. 1) and countries of the Western Hemisphere (which means Canada). But Japan depends on the U. S. for practically all of her scrap, is U. S. scrap customer No. 2 at present. The embargo, as the Japs knew, was aimed at them...
...Tener Weir welcomed. He even thought it overdue. Moving his never-lit cigar from mouth to desk, he glowered: "It is too bad that the Administration did not see fit to heed the repeated warnings of businessmen against the continuous, large-scale exportation of scrap. . . . Even now, since the embargo is not effective until Oct. 16, exportations can continue for more than two weeks. With scrap-steel stocks already so badly depleted, I can see no justification for the delay...