Word: moratorium
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...most recent plan for snagging the world out of the economic morass is the product of the mind of Chicagoan Solomon Levinson, who is reputed to have suggested the term and the idea of a moratorium to President Hoover. The Levinson plan seeks to counteract the French theory of the unity of war debts and reparations by establishing a relationship between war debt reparations and disarmament. It postulates a four year armament holiday...
...irate debtors to the State Capitol at Lincoln and "tear it down" unless they got relief. In Wisconsin, Democratic Governor Schmedeman, after receiving a delegation of farm strikers, issued a proclamation calling upon circuit judges to hold all mortgage foreclosures in abeyance until the Legislature could declare a moratorium. Some judges promised to comply; others claimed they were legally powerless to obey the proclamation. At Grand Meadow, Minn. a cousin of President Hoover luckily got out of debt by giving his farm to the bank. Two great railroads in the East were reported close to receivership. In a decade Federal...
Died. Carl Joseph Wilhelm Cuno, 56, managing director of Hamburg-American Line; of heart attack from overwork; in Hamburg, where he was Rotary Club president. As German Chancellor for nine months (1922-23) Dr. Cuno deliberately inflated the mark in an effort to force a Reparations moratorium from the Allies. Succeeded as Chancellor by the late, great Dr. Gustav Stresemann, Dr. Cuno rebuilt the Hamburg-American Line (stripped by the Allies down to 4.000 tons in 1918) up to its present 1.087,175 tons...
...voted against: Debt Moratorium (1931), Hughes for Chief Justice (1930). He was paired against...
Roosevelt champions, on the other hand, thought that President Hoover, stubborn of opinion, was trying to jockey Governor Roosevelt into line with his own foreign program just as he had jockeyed Congress to support his 1931 debt moratorium. Dark Democratic hints were broadcast to the effect that Wall Street, repudiated in the election, was trying to get an advance grip, through President Hoover, on the next administration's foreign policy. Why, asked Democrats, among themselves, did not President Hoover offer to turn power as well as responsibility over to the President-elect if he was so anxious for cooperation...