Word: moratoriumed
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Dates: during 1930-1939
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Since the election, the matter of the war debts has reached a point more crucial than when the moratorium was declared a year and a half ago. It is doubtful whether the internal economy of the various nations is anything improved since then, and international conditions certainly are not, Prompt and reasonable action toward the statement of war debts is essential to curing the world's distress...
...Governor Morley Griswold. As a result of that communication, Nevada's 91,000 citizens awoke from their celebration to find' 19 of their 26 banks closed, $20,000,000 of their $30,000,000 in bank deposits tied up. Lieutenant Governor Griswold had proclaimed a 12-day moratorium on all obligations except taxes, had urged every bank to take ad vantage of it. The seven banks which decided to face all comers included Reno's First National which sent to San Francisco for $1,500,000 in cash and announced it stood ready...
...firing line." At Omaha Frederic Mosely Sackett, Ambassador to Germany, proudly recalled: "I told President Hoover if Germany prospers the United States would be prosperous and he made a study of the situation. Later the President in a long-distance telephone call to Berlin told me about the moratorium. He asked for a letter or telegram saying the German republic would stand behind him. The letter was signed by von Hindenburg...
...voted for: Tariff (1922, 1930). Restrictive Immigration (1924), 15-cruiser bill (1928), Equalization Fee (1928), Boulder Dam (1928), Jones (Five & Ten) Act (1929), Reapportionment (1929), London Naval Treaty (1930), Debt Moratorium (1931), R. F. C. (1932), Labor's Anti-injunction bill (1932), billion-dollar naval building bill (1932), Sales Tax (1932), Revenue...
...paid at all. Von Papen's statement is a perfectly solid fact. Unless tariffs are lowered Germany cannot sell her goods abroad., no credit can be built up, and thus no debts can be paid. Since no country will consent to lower its tariff purely for economic idealism, the moratorium must be indefinitely extended and fresh loans made...