Word: moratoriumed
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Dates: during 1930-1939
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...mere matter of making the companies toe the strict line of New York State's insurance laws-as Superintendent George Slingerland Van Schaick (pronounced Skoik) found out. For also under his supervision were the big mortgage companies that cracked up after the 1933 Bank Moratorium with scandalous reverberations (TIME, Aug. 14, 1933). Having reorganized nearly one-fourth of the $800,000,000 guaranteed mortgages which his department had to take over. Superintendent Van Schaick retired to his law practice in Rochester, N. Y., which he left unwillingly in 1931 at Governor Roosevelt's request...
Tallahassee, Fla., April 10--The Florida House of Representatives today passed a bill declaring a conditional two-year moratorium on bonded indebtedness of sub-divisions of the State...
...hero by the modern equivalent of the Greek conception of Fate, the conception of inevitable economic collapse. The play is not divided into acts but shows scenes alternating between a banker's office and a city street. Time is an evening in February 1933, just before the bank moratorium. Doomed hero is one McGafferty, No. 1 Banker of the U. S. While his office ticker stutters its frantic news of crashing banks, riots, panic, and the crowds in the street mutter their comment, McGafferty faces a conference of frightened bankers, tries to bully them into a pool. While their...
...received or paid out cash when, at 43, he was elected president of the Bank for International Settlements. B. I. S., known as the "Bank without a Vault,"* had been handling Reparations payments under the Young Plan. When the Young Plan payments were stopped by President Hoover's moratorium, Banker Fraser helped develop a profitable sideline in League of Nations loans and transfers among European banks. Last week President Fraser, deaf to all pleas from his B. I. S. associates, announced that he would not be a candidate for reelection when his term expires next May. Observers anticipated that...
...wipe out the $2,000,000,000 Stabilization Fund, would have a highly deflationary effect upon their program, New Dealers began to figure what to do. They considered: 1) enlarging the Court so that the President could pack it with new members favorable to his cause; 2) declaring a moratorium until a Constitutional Amendment could be adopted forbidding the Court to declare Federal laws unconstitutional, declaring it retroactive; 3) paying in gold as demanded and establishing a 60% tax to get back the excess; 4) or simply letting the adverse decision stand and refusing to consent to the Government...