Word: debts
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Dates: during 1930-1939
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Estimated Public Debt next July 1: January...
...deficit of $94,428,496.67 left behind for fiscal 1933 by Governor Franklin Delano Roosevelt. Fiscal 1938, said Governor Lehman, had ended with New York State some $16,600,000 in the black for the year, some $6,500,000 in the black for all years (apart from funded debt...
Germany, on her part, announced the Chancellor, agreed to take responsibility for Austria's Government debts owed to Britain. In return, Britain slashed the interest payments on the Austrian loans, also reduced the interest charges on Germany's 1924 Dawes loan and 1930 Young loan, both floated to help the Reich's reparations efforts. Further, Britain arranged to take an increased amount of German goods, allowing Germany to make future debt payments from the proceeds of these additional exports...
...agreement, strictly on a two-nation basis, made no mention of Austrian debts owed the U. S., France and half-a-dozen smaller powers. At the time of repudiation, these nations, with Britain, lodged stiff protests in Berlin. Britain, however, was the only power in a position to bring the Reich to any sort of terms. Since Britain annually buys $49,440,000 more goods from Germany than she sells, all she had to do was to clamp on exchange clearing control, deduct the debt payments from British money owed German exporters. Germany acted before this got beyond the threat...
Britain's individual settlement with the Reich leaves the other Austrian creditor nations to fend for themselves, with little hope of compensation unless they are willing to accept payment in German goods. The U. S., with at least $20,000,000 owed on the Austrian debt, is in no position to drive a settlement since she annually sells $29,280,000 more to Germany than she is forced to buy. So far, Washington has dispatched three notes of protest against Germany's failure to pay. Germany has not troubled to answer...