Word: moratorium
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...President prepared last week to clasp hands with Premier Pierre Laval (see p. 18), a gentleman whose strong displeasure he incurred four months ago by asking that France accept at once the Hoover Moratorium (TIME, June...
From the first, President Hoover has realized that a one-year War debt moratorium would be insufficient to get Germany's economy straightened out. He also knows that the European man-in-the-street regarded his moratorium as the first step toward cancelling War debts to the U. S. Such a move has the backing of bankers like Chase National's Albert Wiggin because if foreign governments have to repay their War loans to the U. S., banks like the Chase will have to wait a long time to collect their foreign loans. But Senators like WilHam Edgar...
There are more ways of choking a dog than by feeding him hot butter. There are more ways of getting some of the benefits of an extra session of Congress, President Hoover has found, than by calling an extra session. Last summer, when he felt that a one-year moratorium and suspension of interest payments on War debts must be announced, the President invented the "Congressional conference." He telephoned and telegraphed every member, talked with a few important ones. Within 24 hours he had sufficient support to announce his plan (TIME, June 29). The business world was saved the worry...
Later on, some members of the conference thought they heard the President committing the gathering to an extension of the moratorium and cancellation of War debts (see p. 9). "The way that reads," interjected Jack Garner, "seems to me to mean cancellation of debts and I'm opposed...
...Labor Party . . . believes general acceptance of President Hoover's moratorium on War debts permits reconsideration of the whole question. It seeks immediate reopening of negotiations between the signatories of the Young Plan and the United States with a view to attaining conditions in which inter-Allied war debts and reparations may be canceled...