Word: moratorium
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Dates: during 1920-1929
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...That a moratorium of five years be granted to France during which period interest shall not be cumulative...
...plan, as announced yesterday afternoon calls among other things for a gold bank of emission capitalized at 400,000,000 marks, administered by non-Germans and located in Berlin. "This should cause a rapid stabilization of the mark, perhaps in a few months time," Professor Carver explained. "The 'partial' moratorium for four years for which the plan provides, will probably yield increasing sums as prosperity continues to augment in Germany...
...experts will recommend the French to take a mortgage on the German railway system which, it was estimated, can produce a net profit of 800,000,000 gold marks per annum. It will also be recommended that France relinquish her hold on the Ruhr, that Germany be granted a moratorium for cash payments. On the other hand, the experts were reported to have decided that Germany can pay about $1,125,000,000 annually after three years, that she must levy higher taxation, that a gold bank must be established. They found Germany "run down" but capable of representing...
...impossible size of the reparations bill. France has refused to allow this vital matter to be touched because thirty-three billions of dollars means to her security, her only security. Little of real value can be done until this bill is radically scaled down and Germany given a moratorium for recuperation...
...Charles E. Hughes declined to participate in the conference, because France had limited the scope of the conference to Germany's " present" capacity to pay reparations (meaning what Germany can pay from now until Jan. 1, 1930). This renders the conference useless, as at least a six-year moratorium of reparation payments must be granted to Germany. Furthermore, French insistence on keeping the Ruhr problem entirely out-side the orbit of the conference was understood to have been another factor unacceptable to the U. S. Government. President Coolidge ("the taciturn") described the conference as restricted by the French...