Word: embargoed
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Despite the vigorous opposition of Representative Hamilton Fish '10, and others, the House Committee on Foreign Affairs has recommended to the legislature an Arms Embargo Bill giving the President the right to join with such countries in a boycott agreement as he sees fit if he believes the circumstances warrant it. All good Republicans are up in arms against what they feel is a revolutionary measure placing an amount of power in the Executive's hands greater than anything heretofore: the power virtually to make war independently of the Senate...
...stalwart men who are objecting most strenuously to this bill are quite wrong in thinking that it will mean a drastic change. For the simple, unavoidable fact is that the President can start a war whenever he so desires. He has no need of declaring an arms embargo. History has borne this out amply. In 1846 President Polk found it easy enough; troops were sent into the disputed area, American blood was promptly and profusely shed, the flag was fired upon, and the national honor placed in joopardy. War was a foregone conclusion. Showing a little more finesse, President McKinley...
...Manhattan, Banker Frank Arthur Vanderlip, onetime Assistant Secretary of the Treasury, announced a national financial plan held secret since Feb. 26. The plan proposed: 1) embargo on gold; 2) limited Federal guarantee of bank deposits; 3) legislation for complete separation of investment and commercial banking; 4) "devaluation" of the dollar by reducing its gold content in accordance with commodity indices. The Vanderlip proposals were signed by: President James Henry Rand Jr. of Remington-Rand Co., Chairman John Henry Hammond of Bangor & Aroostook R. R. Co., President Robert E. Wood and Chairman Lessing Julius Rosenwald of Sears. Roebuck & Co., Vincent Bendix...
Amid tense excitement the British House of Commons met to hear Foreign Secretary Sir John Simon, many times a defender of Japan at Geneva, state the embargo policy of his Majesty's Government. "If the supply of arms is to be stopped," said Sir John, "it can only be done by international agreement. . . . Existing contracts must be respected, but subject to this, the Government has decided, as from today, pending international consultation such as I hope for, the Government will not authorize nor issue licenses for the export either to China or Japan of [arms]. . . . The action...
Thus British munitions makers will be permitted to fill all the orders they had received up to last week from China and Japan, while at the same time His Majesty's Government receives credit in newspaper headlines for declaring a "temporary embargo." Not without reason is Sir John Simon hailed as the greatest and highest paid British lawyer of the age. Paris dispatches reported that the French Government would take the same stand as the British...