Word: moratorium
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...footnote, col. 2, p. 11, your issue of July 6, wherein you state that radio time was secured (but not used) over two big broadcasting chains for an explanation of the moratorium by Secretary of State Stimson...
...note of attack sounded by the erstwhile friendly Kansas City Star. Editorialized the Star: "If the U. S. can relieve Germany of $250,000,000 in debts, the Government can afford to pay $60,000,000 to hold back its wheat. If a foreign nation is entitled to a moratorium the American farmer should have...
Germany was not the only country affected by her economic plight last week. All banks closed in Hungary for three days. In Vienna the great Mercurbank, largely owned by Berlin's closed Danat, shut its doors and begged for a six-month moratorium. Other banks suspended in Danzig and in Riga. The fire was coming dangerously close to France's allies in Central Europe: Poland, Jugoslavia, Czechoslovakia, who must be saved to preserve French military supremacy. Had France overstepped the mark by demanding, as the price of a further loan, political concessions from Germany which no German Cabinet...
Britain was worried. The pound sterling fell to $4.83⅞, lowest since Britain's return to the gold standard in 1925. A conference of experts had already been called to London to settle technical details of the Hoover Moratorium. The Labor Government supplemented this with a call for the Premiers or Foreign Ministers of Britain, France, Germany, Belgium, Italy, Japan and the U. S. to meet in London in an effort to avoid a world crisis...
Hope engendered by the Moratorium and the Moratorium Market on world ex changes failed to find reflection in important business indicators up to last week. Important straws showed that Depression's ill-winds were not yet blown...