Word: token
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Dates: during 1930-1939
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...fine thing to say in London last week that not since Edward III had a British Government defaulted. His Majesty's Government has considered it worth while to make "token payments ' on its war debt to the U. S. only because President Roosevelt, after receiving each token, has always expressed the personal view that it wiped away the stain of technical default. Last week it was the painful duty of the Chancellor of the Exchequer, hawk-nosed Neville Chamberlain, to explain to the House of Commons that President Roosevelt was no longer able to gild tokens with their...
Rheumatic Chancellor Chamberlain magnanimously paraphrased last week's British note to the U. S., the text of which had leaked out prematurely in Washington "due to a misunderstanding for which the United States Government is in no way responsible." While announcing that no token payment would be made June 15, the note declared: "The attempt to transfer amounts of this magnitude would as its immediate effect cause a sharp depreciation of sterling against the dollar, which as His Majesty's Government understands would not be consistent with the monetary policy of the United States Government...
...class of 1908, being the last class to graduate under Dr. Eliot as President of the University, has presented him with a mahogany desk as a token of their regard...
Only Finland has paid her debt in full to date. Great Britain, Czechoslovakia, Italy. Latvia and Lithuania have made token payments. The rest have defaulted. No mention did the President make of the Johnson Act which forbids all future public or private loans to defaulting nations. But in Washington early this week British Ambassador Sir Ronald Lindsay sent the State Department a note announcing that, because the Johnson Act invalidates token payments, Great Britain would pay not another farthing "until it becomes possible to discuss an ultimate settlement of the intergovernmental war debts with a reasonable prospect of agreement." Same...
Harvard last week received another token of the esteem in which it is held by Cambridge, Mass. To curb the "foolish, rampaging, nitwit Harvard students who break out into a riot now and then," Councilman Charles H. Shea proposed in Council that the city buy six horses (at $200 each) for its police. Said he: "We need mounted police for the Harvard students. I don't know if they are Communists, Bolsheviks or nuts, but we should be ready to cope with them...