Word: debtors
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...direct loans, the U.S. would remain in a position to call the tune for each debtor. The other nations, mindful of the effects of the whimsical U.S. lending tariff policy of the prewar decade, might well prefer exchange controls and bilateral barter agreements among themselves to the acceptance of "humiliating" credit terms, and those loans which do not "fit their internal needs and their sense of national dignity...
...international airports, both in the U.S. and abroad. But plane travel between a nation's cities would be restricted to that nation's own planes. As a method of enforcing this, the N.A.M. suggested that lend-lease balances owed the U.S. be canceled progressively as long as debtor nations complied...
...harm in knowing how much real estate George Washington possessed? And why not admit that Robert Morris was an iron manufacturer and a West Indian trader? If we know these facts, and others like them, we can begin to understand the animus of Jacksonian, Populist, Bryanite and Bull Moose debtor classes against many things that have been done in the name of the Constitution. The economic interpretation is one key to history. And mark it well...
...Keynes plan and, with variations, the White plan would provide every country with the monetary means to start doing international business at once on its initiative and responsibility, leaving long-term capital until later and to other agencies. The Keynes plan provides checks on both debtors and creditors and further provides means for applying gentle brakes to a debtor in danger of overextension. But it does not threaten the debtor with automatic raid and collapse, as the old gold standard often unfairly did. Yet without tying rigidly to gold, it does provide means whereby gold can be sold into those...
...order to prevent abuse of either plan-whether by debtor nations failing to put their affairs in order or by creditor nations erecting tariff walls, etc. to prevent payments in goods-it would be necessary for the international stabilization fund to put pressure on the offenders. The necessity of doing this, said Dr. Anderson, would force the fund to become "a supernational Brain Trust to think for the world...