Word: settlements
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...contracting a new debt. He took the opportunity to explain that the allegedly imminent refunding of Italy's debt to the U. S. would not disturb the financial security of the country, for "it appears to be pretty generally recognized by the creditor nations that any settlement must be subordinate to the debtor's capacity to pay." However, it was impossible at the moment to inaugurate refunding negotiations...
...past week's news from China revealed an ugly situation at Shanghai, large foreign settlement midway between Peking in the north and Canton in the south; at Canton, capital of the southerly Province of Kwangtung; at Peking, national capital...
...need for straight thinking and right thinking was the thesis of President Lowell's sermon. After emphasizing the need of taking careful thought now as to the settlement of the problems of the future, he added...
Italy. Baron de Martino, Italian Ambassador to the U. S., also called on Mr. Mellon. He inquired about how easy the terms would be for Italy if she made a settlement, whether a moratorium would be considered. Mr. Mellon replied that the terms would be as easy as conditions warranted. Then Baron de Martino cabled Mussolini for instructions-and Mr. Mellon smiled again...
...Problem. In dealing with these next three debtors, the question will arise whether the terms granted them will be more lenient than those granted Great Britain and the other nations* who have already paid up. It seems that France, Italy, Belgium cannot, will not, agree to any form of settlement that is not much more lenient. If a more lenient agreement is made, how will Great Britain take it? How will Congress take it? Congress has long protested that it would not forgive a cent of foreign indebtedness; but partial debt forgiveness disguised as lower interest or a moratorium Congress...