Word: embargos
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Dates: during 1930-1939
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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...
...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...
Maintaining that the "complete cessation of trade with Italy would have an infinitesimal effect upon American business," Oliver M. W. Sprague '94, Edmund Cogswell Converse Professor of Banking and Finance in the Business School, made a critical thrust at an all embracing embargo...
Professor Sprague, speaking before the Foreign Policy Association at the Copley-Plaza on Saturday afternoon, suggested that "a broadening of the embargo to basic war supplies" by Congress in its next session is highly desireable...