Word: moratorium
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...Cent!" Amid cries of "Don't pay a cent!" massive Premier Herriot faced his Chamber of Deputies, placed blame for the debt muddle squarely upon the shoulders of Herbert Hoover. Said he: "The Hoover moratorium is the cause of all the trouble in which America's debtors are now involved. If the U. S. did not wish to concern itself with the problem of reparations, Mr. Hoover should not have become involved in it." But to M. Herriot blame and honor were not to be confused. Dramatically he reminded the Deputies of "Les Soldats Americains," raised his great...
Match Re-lighted. After six months of investigation and negotiation Swedish Match Co., springboard from which the late Ivar Kreuger leaped to fantastic heights of finance, was reorganized last week, first of the Kreugered interests to burn bright again. Granted a moratorium last May, the company has been run by three administrators (similar to U S receivers) appointed by the Swedish Government. Cooperating with creditors and representatives of affiliated Kreusrer & Toll (the investment company) and International Match Corp., they evolved a workable scheme and the moratorium was lifted. Creditors were not asked to scale down their claims; they will receive...
...debt reconsideration? Did any reconsideration necessarily mean a reduction in the $22,000,000,000 the U. S. hoped to collect in half a century? Could the old War Debt Commission be revived, as President Hoover had suggested, to conduct negotiations? Would the debtors default if refused another moratorium? Would such a default set back world recovery? Would a world conference on debts and tariffs, such as Governor Roosevelt had suggested, produce a solution? Would it really be better business for the U. S. to revise War Debts downward? What about the U. S. taxpayer who would have to make...
Under President Simpson's vigorous leadership the National Farmers' Union last week went on record for: 1) remonetization of silver at 16-to-1; 2) a domestic moratorium on all debts and taxes; 3) full payment of the War Debts to the U. S.; 4) Federal refinancing of the $9,000,000,000 worth of farm mortgages outstanding; 5) licensing all dealers in agricultural products; 6) higher income taxes; 7) a $500,000 limit on all inheritances; 8) the domestic allotment plan of price upping;* 9) consideration of producers' strikes. A red-hot Roosevelt man, Unionist Simpson...
Events of past week have given a confusing political color to the problem of the war debts. Most immediately the American government's concern in whether to grant or deny another moratorium on the payments due December 15. A denial may send sterling to a new low and further injure world trade. In justice to Great Britain, and to be on the safe side of our own interests, a moratorium would be desirable. In any case, the most important decisions lie beyond the ideas of March and outside the sphere of the single forthcoming payment...