Word: debtors
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Dates: during 1940-1949
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...Congress stirred to a bigger issue: Kentucky's leathery Representative Andrew May, chairman, House Military Affairs Committee, called for repeal of the hitherto inviolable Johnson Act, banning all U. S. loans and credits to any defaulting debtor nation which blocks loans to the Allies. The Act's author, old World War I Isolationist Hiram Johnson of California, cried indignantly ". . . road to war." > What stand, if any, should...
Germany became a debtor's paradise, a creditor's hell. Real-estate owners, big landlords, industrialists paid off loans and mortgages for a song; small savers, insurance holders, widows & orphans, whose inheritances had been invested in "safe" State bonds, were wiped out overnight...