Word: moratorium
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...problem-we shall not have to cancel them-if we are realistic about providing ways in which payment is possible through the profits arising from the rehabilitation of trade. . . . The Republican position has been the absurd one of demanding payment and making payment impossible. This policy forced a moratorium. Our policy declares for payment but at the same time for lowered tariffs and resumption of trade which open the way for payment...
...against business felt better last week. The mercury in the sensitive thermometer of sentiment went shooting up. Warmest of rays was a sensational rally in stock prices. What had started three weeks prior as a slow, creeping advance suddenly became a running, leaping market. In percentages, even the famed Moratorium Market with its 28.9% gain in 25 days was outdistanced. Railroad shares jumped a whopping 58%, utilities 38%, industrials 34%. The market as a whole fattened itself 37% in 22 days, putting on millions of dollars of weight, much goodwill. Brokers bellowed with joy at the windfall...
...Ratification of the one-year-War-Debts Moratorium. Congress declared against cancellation, refused to revive the World War Foreign Debt Commission to consider Revision. The Moratorium increased last year's deficit by some 250 million dollars...
...program: a moratorium to be followed by virtual cancellation of what Germany owes the Allies if the Allies obtain virtual cancellation of what they...
This did not square with the fact that Manhattan's Stock Exchange - which boomed at news of the Hoover Moratorium last year - drifted fractionally lower last week. In Germany, with a General Election set for July 31 and with Hitlerites slated to make heaviest gains, the Hitlerites blatantly repudiated the Lausanne settlement last week, perhaps for electioneering purposes...