Word: debtors
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...threat of trade reprisals against the U. S. Declared an anonymous Treasury official: "Britain has said in effect, 'Relent or the grass will grow in your streets,' and Congress is saying 'Let's see the grass.' " Most Senators and Representatives felt that European debtor nations were ganging the U. S. taxpayer and Congress was that harried individual's last line of defense. The few Congressmen whose minds remained open observed with dismay that owing largely to the uncertainty of Europe's paying $124,000,000, the value of securities listed...
...reconsider their War Debts as funded over the past nine years. Pending reconsideration they wanted their Dec. 15 payments suspended.* Only Congress has the power to grant either request but from the President some sort of national leadership was expected. President Hoover favored another commission to negotiate with the debtor powers, hear their arguments for revision. Complicating factors were the proposed World Economic Conference and the moribund Disarmament Conference at Geneva. Governor Roosevelt listened to this long recital in silence, nodded his head in comprehension if not agreement, promised nothing. He repeated what he had said in accepting President Hoover...
...take care not to cross Congress at the outset, could be detected in this first Roosevelt state paper. Unlike the Congress which had shut its ears and mind to all debt talk, the President-elect agreed with the President: "I firmly believe in the principle that an individual debtor should at all times have access to the creditor; that he should have an opportunity to lay facts and representations before the creditor and that the creditor always should give courteous, sympathetic and thoughtful consideration. . . . This rule is a basic obligation of civilization. It applies to nations as well...
...Britain. France and other debtor powers the State Department dispatched notes to the effect that the U. S. would expect full payment Dec. 15 and that the President would recommend another debt commission to Congress. Nothing was said about the certain rejection by Congress of this recommendation. Secretary Stimson's language to Britain made it plain that the Hoover Administration considered her plight graver than France's or Belgium's, that revision by capacity-to-pay would be likeliest in her case...
Debts, The convention enthusiastically applauded Pennsylvania's squat Senator James John ("Puddler Jim") Davis, longtime Secretary of Labor now awaiting retrial for his part in a Moose national lottery, when he said that the debtor nations "could in a short time pay their debts without any discomfort to them" if they disarmed. But the convention leaned toward "readjustment...