Word: embargoing
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Dates: during 1930-1939
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...Manhattan, Banker Frank Arthur Vanderlip, onetime Assistant Secretary of the Treasury, announced a national financial plan held secret since Feb. 26. The plan proposed: 1) embargo on gold; 2) limited Federal guarantee of bank deposits; 3) legislation for complete separation of investment and commercial banking; 4) "devaluation" of the dollar by reducing its gold content in accordance with commodity indices. The Vanderlip proposals were signed by: President James Henry Rand Jr. of Remington-Rand Co., Chairman John Henry Hammond of Bangor & Aroostook R. R. Co., President Robert E. Wood and Chairman Lessing Julius Rosenwald of Sears. Roebuck & Co., Vincent Bendix...
...meanwhile, France, Italy and Czechoslovakia had opposed as "premature" a backhanded suggestion by British Captain Anthony Eden that each Committeeman say whether his Government thought the problem of exportation of arms had yet been raised by events in the Far East. In other words: "How about declaring an arms embargo against Japan or China or both?" Excitedly in London the Chinese Legation at once protested that the Great Powers would be helping Japan if they declared an embargo against both countries, since Japan is already so much better armed than China...
Amid tense excitement the British House of Commons met to hear Foreign Secretary Sir John Simon, many times a defender of Japan at Geneva, state the embargo policy of his Majesty's Government. "If the supply of arms is to be stopped," said Sir John, "it can only be done by international agreement. . . . Existing contracts must be respected, but subject to this, the Government has decided, as from today, pending international consultation such as I hope for, the Government will not authorize nor issue licenses for the export either to China or Japan of [arms]. . . . The action...
Thus British munitions makers will be permitted to fill all the orders they had received up to last week from China and Japan, while at the same time His Majesty's Government receives credit in newspaper headlines for declaring a "temporary embargo." Not without reason is Sir John Simon hailed as the greatest and highest paid British lawyer of the age. Paris dispatches reported that the French Government would take the same stand as the British...
...Glass banking bill; 4) the Wagner bill to increase R. F. C. relief loans; 5) farm relief, minus the "unworkable" Domestic Allotment plan; 6) the Robinson bill to repeal R. F. C. loan publicity; 7) expansion of Home Loan banks into a general mortgage discount system; 8) an arms embargo...