Word: chancellor
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Dates: during 1920-1929
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Secretary Mellon of the U. S. Treasury and Chancellor Churchill of the British Exchequer came as near as statesmen ever do to calling one another "Liar!" last week. The Secretary was vacationing on the continent. The Chancellor was busy at London. Neither was within earshot of the other, but, through a series of suave but venomously couched official statements, they exchanged compliments with rough-and-tumble intent...
Rising irate in the House of Commons, fiery Chancellor Churchill cried: "The words Mr. Mellon is quoted as using indicate a complete misapprehension of the case so serious that one almost doubts the authenticity of the quotation...
...loans to Britain were shot up and eaten in the "Common Cause," and "ought" (in British eyes) to be canceled at least in part by the U. S.] Straightway the U. S. Treasury Department, through Assistant Secretary Garrard Winston, gave back the lie with delicate irony to Chancellor Churchill, pointed out that almost $2,000,000,000 of the "munitions and foodstuffs" alluded to were bought by Britain as purchasing agent for her Continental Allies with sums lent them by the U. S. (Thus Britain was declared to have purchased on her own account about half the "Common Cause" munitions...
Finance Minister Caillaux returned to Paris, from London last week a fiscal conqueror. The Franco -British debt settlement (TIME, July 19), which he had negotiated with Chancellor Churchill was supplemented by attached correspondence providing that should France ever fail* to receive less than 50% of the contemplated German reparations payments, Britain will consent to a renegotiation of the entire Franco-British debt...
...lenient Franco-British debt terms got them. France will pay in the current financial year about $20,000,000, with gradually increasing payments until the 60th year, when the full previously arranged $62,500,000 will be reached. M. Caillaux's cold financial heart pulsated with gratitude at Chancellor Churchill's concession of a "safeguard clause" (protection of French interests in the event Germany should default in her reparations payments...