Word: defaults
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Dates: during 1930-1939
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Varsity; 118-pound class: Baker (T) defeated Ross (H) by default...
...intended to be informal and partly because the Houses have thrust the job upon the H.A.A. Two questions therefore arise: First, should House sports be more thoroughly organized or should they continue to show the delightful insouciance that marks them today when so many League games are "lost by default"? Secondly, if more organization is desirable, should the Houses assume the responsibility as at first proposed or should they simply relieve the H.A.A. of the interdiction laid upon it and leave further organization up to Mr. Bingham? No Student Council committee should be asked to decide this problem...
...President Washington signed a bill declaring: "If any of the gold or silver coins . . . shall be debased or made worse as to the proportion of fine gold or fine silver therein contained or shall be of less weight or value than the same ought to be ... through the default or connivance of any of the officers or person who shall be employed at the said Mint . . . every such officer or person . . shall be deemed guilty of Felony and shall suffer death." Today this penalty has been modified to read that if the President so decides "the officers implicated . . . shall...
...with which to run the U. S. rail system, railroad managements in the lean years had about $3,000.000,000. In 1932 not one steam-locomotive was bought, in 1933 just six passenger cars. Dividends virtually disappeared. Nearly 25% of all railroad bonds went into default. Seventy thousand miles of line, nearly one-third of the total, went into the hands of the courts and 600,000 railroad workers lost their jobs. The biggest single customer of heavy industry disappeared from the market and the Government had to pass out more than $700,000,000 in loans to keep...
Standing in their way is the Johnson Amendment, which prohibits lending to governments in default of their obligations, but unfortunately there may be legal methods to escape it. The only honest way for Europe to touch our financial reserves again is to climb out of the gutter of default...