Word: repaying
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Dates: during 1930-1939
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...Lamont statement was widely accepted as a Wall Street accolade for President Hoover and the "hands off" policy he agreed upon with Premier Laval. What the President could not endorse in the Lamont article was a sound flaying of protective tariffs which prevent debtor nations from earning enough to repay their loans...
...economy straightened out. He also knows that the European man-in-the-street regarded his moratorium as the first step toward cancelling War debts to the U. S. Such a move has the backing of bankers like Chase National's Albert Wiggin because if foreign governments have to repay their War loans to the U. S., banks like the Chase will have to wait a long time to collect their foreign loans. But Senators like WilHam Edgar Borah of Idaho and Joseph Taylor Robinson of Arkansas were quick to catch up the President when they thought they detected...
Unlimbering. The second phase of President Hoover's plan-unlimbering the Federal Reserve System-called for another fund, of from $500,000,000 to $1,000,000,000 of Government money. This would resolve within the Reserve System, assisting closed banks to repay their depositors. Farmers were handed a sprig of hope in the suggestion that the Government be authorized to buy more stock in the Federal Land Banks...
First spark of trouble came from swart Communist Senator Maldonado. He rose in the Senate, condemned the monopoly, demanded that the Government withdraw it. Up jumped Senator Cueva Garcia to remind the Senators that if the monopoly were cancelled, Ecuador would have to repay Kreuger & Toll's $2,000,000 loan. That might be awkward. A melee followed. Somebody got a message to Garcia that a mob was waiting for him outside. Colleagues spirited him away to safety. The monopoly was withdrawn...
...Bewildered by the sum required he managed to raise all but $500 by legitimate means. Then came the fatal step. He took one of the hundreds of negotiable bonds passing through his hands every day, presented it to the broker, saved his account. For twelve years he tried to repay that $500, doubling his stake, multiplying it 20, 30, 100 times. He opened accounts with other brokers to change his luck. His thefts were never discovered because when he stole a bond he also stole the bank's records showing receipt of that bond. If he had to produce...