Word: moratorium
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...Brazil Moratorium? Year ago Sir Otto Ernst Niemeyer of the Bank of England reported on Australia, advised the Dominion merely to "retrench." In Buenos Aires last week correspondents were "reliably informed" from a Government source that Sir Otto would give Brazil a different piece of advice. His report would recommend, the correspondents were told, a "national moratorium" (postponement of payments) on all foreign obligations of Brazil's Na tional and State Governments. Sir Otto, although Vice Governor of the Bank of England, went to Brazil to oblige her chief British bankers, the House of Rothschild...
Next to the Baruch plan, the most arresting proposal the Commission heard last week came from New York's swart little Congressman Fiorello Henry La Guardia. A War aviator, Representative La Guardia wanted a constitutional amendment to allow a wartime Government to declare a moratorium, nationalize all industry, ration the entire civil population and conscript everyone "from Texas Guinan to J. P. Morgan." Ships, railroads, everything would be taken over without compensation and returned later to their owners without damage payments. Testified this Republican insurgent...
...Smack in the face of the House, soon after it convened, James Henry Thomas, Laborite Minister for the Dominions, hurled the announcement that Australia had just been granted a two-year moratorium on repayment of her War debt to Great Britain...
This action rank-&-file Laborites hope and suspect is the prelude to a request by Chancellor of the Exchequer Philip Snowden for a two-year moratorium on the British debt to the U. S. Last week's moratorium rewards the Australian Government for its prompt action three weeks ago in making good to British bondholders the default of New South Wales (TIME, April...
Nationalist strategy will be to block dissolution if possible, try to capture the House of Representatives by splitting off supporters of Mr. Scullin. During the week Great Britain helped out harassed Australia by granting her a timely moratorium...