Word: prolegomena
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Dates: during 1920-1929
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With these prolegomena, he launched into the discussion of the terms we have offered to debtor nations. He told how we had lent money to the Allies during and following the War at 5% interest, then considered a fair rate. He told how the British debt at the time of settlement amounted, with interest, to $4,600,000,000. In settling this account, we agreed to accept interest at the rate of 3% and 3½% during 62 years while the principal was being paid up. Meanwhile, the U. S. which borrowed the money to lend to Britain, is paying...
...presided at an oratorical contest in which five boys and two girls gave orations on the American Constitution. Four Justices of the Supreme Court were judges of the con-test-Van Devanter, Butler, Sutherland, Sanford. First prize ($3,500) was awarded to Don Tyler of Los Angeles. In his prolegomena, the President said: "Our constitutional system has justified itself not only in our own history, but in the fact that it has been accepted as the model upon which so many later experiments in democratic-republican institutions have been based...