Word: manifestoed
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Dates: during 1920-1929
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...hearing that one hundred potent international bankers had signed a manifesto urging European nations to let down their tariff barriers (see p. 14), Secretary of the Treasury Andrew W. Mellon took the U. S. upon his venerable knee last week and told it how it was making both itself and other nations prosperous with its protective tariff...
Despite the arch-protectionist predilections of Frenchmen, the manifesto was signed by M. Rene Laederich, Regent of the Bank of France, and by eight other potent French financiers...
Source. Thomas W. Lamont, potent Morgan partner, not a signatory, declared that the manifesto has been in circulation among international financiers for some time. Wall Street supplied the rumor that it took final form when Montagu Norman, Governor of the Bank of England, and Dr. Schacht, President of the German Reichsbank, conferred with Benjamin Strong, Governor of the Federal Reserve Bank of New York, at Antibes, French Riviera (TIME, Aug. 30). Of these three fiscal tycoons only Dr. Schacht would comment last week: "The manifesto is connected closely with the recent conference of German and British industrialists in England [TIME...
Significance. President Mitchell of the Illinois Merchants Trust Bank, a signatory, said: "The manifesto is not intended to have any reference to the United States." Apparently this view was shared by other U. S. signatories who pointed to the title of the manifesto which explicitly restricts its application to Europe. Public opinion seemed inclined to let the document drop as a mere "pious plea" like those often uttered for "peace," "disarmament" and what...
...their frontiers, readjusting the tariff scale again when the shipment had passed. If such sharp practice could be eliminated and the attitude of tariff barriers fixed, international commerce would at least be able to adjust itself to a definite scale of "necessary evils." Paradoxically, though last week's manifesto seemed destined to produce no real effect, it caused marked temporary fluctuations on both the New York Stock Exchange and the Berlin Bourse...