Word: mckenna
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...moves made in connection with the Dawes-McKenna reports (TIME, April 21) during the past week: ¶ The Reparations Commission received answers from the principal Allies to its letter urging speedy adoption of the reports. France declared that she should not accept the reports until they had been put into effect. Britain and Italy accepted unconditionally and professed their readiness to take any necessary measures. Belgium contended that the Reparations Commission should frame an official plan, based upon the reports, before the Allied Governments should be required to act. ¶ The Reparations Committee held a series of conferences, chief...
...debenture stock to be handed over to a trustee to be appointed by the Reparations Commission, who shall apply the proceeds to reparations payments to the Allies. The income from this source is expected to be $75,000,000, or 6% interest. No. 2 Committee (Chairman Reginald McKenna, head of the London Joint City and Midland Bank, previously Chancellor of the Exchequer under Premier Herbert H. Asquith), had as its purpose to compute the value of German capital exported abroad and report on the means of "repatriating" such funds. The main findings of No. 2 Committee were...
What Germany Thinks. While Dr. Hjalmar Schacht, President of the Reichsbank, announced that plans for the proposed Gold Reserve Bank were complete, it was learned that nearly 8,000,000,000 gold marks of German capital had been traced in its flight abroad by the McKenna Experts Committee (TIME, March 3). Forecasts of the Dawes report indicated resentment at the idea of an Allied Commissioner General. The suggested loan to Germany of $200,000,000 was considered too small. Nationalists and industrialists bitterly attacked the whole scheme. Dr. Schacht opposed Allied control, saying "a nation of 60,000,000 cannot...
...Dawes much is known; of McKenna not so much is known...
...bald head which seems to be the common affliction of able bankers. He is 60 years of age and for about 40 of those years he has devoted himself entirely to higher mathematics, law, and the study of finance. In "the City" (London's Wall Street section), Mr. McKenna is Chairman of the London Joint City and Midland Bank, one of the greatest British banks. But he is more than this; he is looked upon as one of the greatest authorities on budgetary finance and banking in the world and holds the enviable reputation of having successfully managed Britain...