Word: moratorium
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Observers and statesmen agree that the 72nd Congress, which convenes Dec. 7, will be one of the most momentous sessions in U. S. history. It will have to ratify or reject President Hoover's moratorium on Europe's debts. With a huge Treasury deficit on hand, it will have to debate taxation. At the same time it will debate a national Dole and, though the American Legion voted self-denial, there will be a fight to pay the Bonus in cash, in part if not in full. With Bar, Labor and Legion behind them, the Wet members will...
From Basle, Switzerland, sagacious Banker Wiggin, whom all Wall Street respectfully calls "Al," had issued a report that was very embarrassing to President Hoover. Mr. Wiggin and his European colleagues had decided not only that the Hoover one-year moratorium is insufficient but also that high (i. e. Republican) tariffs in the U. S. should come down...
...Cabinet's formal assent to the journey. Ambassador Edge again drove to the Minister of the Interior, this time with six silver inkstands, gifts from himself and Secretary of the Treasury Mellon to Premier Laval and colleagues "in commemoration of the friendly collaboration following President Hoover's moratorium proposal-Paris, July 6, 1931." At the same time Ambassador Edge delivered the White House invitation. Swart little Premier Laval graciously accepted the invitation and the inkstands, remarking facetiously: "We are infinitely touched by your gesture. . . . Your compatriots who, we are told, use only fountain pens, will interpret this...
...thorough discussion. I believe we should really find out what the American people want. That will end it, one way or another." Before it rushed for trains home, the Legion also voted: to turn its back on the Bonus for the present; to approve the international War debt moratorium; to build the U. S. Navy up to London Treaty size; to oppose disarmament even for purposes of economy; to hold next year's convention at Portland...
Viscount Cecil of Great Britain had a word to say about the Depression, the Hoover Moratorium, the Wiggin Report, and Franco-German amity. Said...