Word: icelandic
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...oldest Parliament in the world sat up all one night last week?that is from 7 p.m. until 5 a.m., for at this time of year two-thirds of the 24 hours is night in Iceland...
...carpet were called the Island Kingdom's foremost capitalists, the Directors of the Bank of Iceland. They did not come shivering, for the kindly Gulf Stream makes Reykjavik winters temperate. In fact "Iceland" is a complete misnomer for a land abounding in volcanoes and hot springs (many a farmer warms his house with hot water radiators piped directly from his spring). But though the Directors of the Bank of Iceland did not come shivering they came shamefaced...
Since 1925, when a dividend of 5% was paid, the Bank has shown no profit. Meanwhile the country at large has been hugely prosperous, swiftly progressive. Proportional to the number of her 103,000 inhabitants, that is per capita, Iceland now has the largest foreign trade of any nation whatsoever ($19,912,400 exports in 1928, and $15,008,000 imports, thus leaving a favorable trade balance of $4,904,400 which is more than frugal Iceland's na- tional debt). Moreover, neither France nor England has as many telephones per capita as Iceland. Amid such evidence of soundness...
After ten consecutive hours of deliberation and debate, the Althing at 5 a.m. dealt harshly with the Bank of Iceland. Ordered was a searching investigation which Icelandic economists are certain will prove that the Bank is bankrupt. In this case, by decree of the angry Althing, it will be liquidated and its business probably transferred to the prosperous Farm Bank of Reykjavik...
...Adopted a joint resolution appropriating $55,000 for expenses of U. S. participation in the celebration of the millenary of Iceland's Parliament...