Word: embargo
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Prime new feature of the Pittman-McReynolds bill was a momentous mandatory provision for an embargo on loans and credits to all belligerents. Otherwise the new bill largely strengthens, confirms and makes permanent the peace policy set up by Congress, President and Secretary of State since Italy's Ethiopian campaign sent a great war scare rumbling across the U. S. As in the expiring law, the President in case of war must declare an embargo on arms, ammunition & implements of war against all belligerents, must forbid U. S. ships to carry munitions directly or indirectly to belligerents...
...Pittman-McReynolds bill would further allow the President to prohibit shipment to belligerents of abnormal amounts of any commodities essential to war, except food and medical supplies. Kinds and "normal" amounts of commodities would be fixed by him. Modifying its mandatory embargo on loans & credits, the bill would empower the President to permit ordinary commercial credits and short-term obligations necessary to normal business...
...This bombing may prove to have the same political effect as the torpedoing of the Lusitania, particularly in regard to the United States, whose attitude on an oil embargo may be decisive for the Italians...
...decidedly in favor of fixing by law what the U. S. should do in case of a war abroad, namely to forbid export of arms and materials to all warring nations alike. The State Department felt acutely that executive discretion will be necessary lest the U. S. by indiscriminate embargoes put weaker nations at such a disadvantage that international bullies should be encouraged to attack them. Fear of Congress that flexible neutrality would give the State Department a handle to draw the U. S. into war was firmly set against the State Department's fear that an inflexible...
...Chaco having long since been buried in old newspaper files, President Roosevelt last week proclaimed that, provided Bolivia and Paraguay would import no arms and munitions until after a formal treaty of peace had been ratified, the U. S. embargo on such shipments to them would be lifted...