Word: moratoria
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Dates: during 1930-1939
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Came Friday morning and Citizen Roosevelt awoke from the sleep of the elected to hear that 22 states and the District of Columbia were in the depths of banking restrictions and moratoria...
...gentile Governors were not allowed to sleep. Before dawn that Saturday morning there were moratoria in Iowa. Missouri, Minnesota, with others following fast. Before 10 a.m. the closing of all the security and commodity exchanges of Chicago and New York had been announced- all except the Livestock Exchange in Chicago, for livestock is perishable, its distribution must go on. By that hour the three-block-long factory of the American Bank Note plant in The Bronx was roaring with activity, with police at the doors to keep the inquisitive away. At 1 :oo p.m. 100,000 citizens whose banks were...
Like a frightened recruit after his first day under fire, many a cashless U. S. citizen wondered last week about the grizzled veteran, Michigan, fighting along in its fourth week of banking moratoria. How was Michigan taking...
...antagonism between Detroit and out-state bankers, who were not consulted when the moratorium was proclaimed and whose reserves are tied up in Detroit banks. Dark rumors also circulated of a struggle for power between Ford, General Motors, Chrysler. Meanwhile General Motors, flinging defiance in the face of moratoria. announced a new Chevrolet "standard" six slightly smaller than the present six. to sell, they promised, at a lower price than any other standard-model six. Minus fancy gadgets, the car will be on display the end of this week...
...dominant need of the moment is to revive international investments. This must be done not in a period of years but of months or even weeks or else one country after another will be forced into some form of extended moratoria which may endanger the whole system on which the world's economic life is based...