Word: schacht
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...Most observers concurred, but not indomitable Owen D. Young, chairman of the committee and co-representative of the U. S. with Mr. Morgan, who conferred as often as thrice a day with the "Iron Man" whom most people blame for disrupting the committee, Germany's hard, ungracious Dr. Hjalmar Schacht...
...week, "I am deeply sorry for our chairman. Mr. Young has done everything a man could possibly do to make for success. It is a shame that his wonderful work should be branded with defeat. He deserved something far, far better!" Allied Bulls Baited. The offer made by Dr. Schacht, which seemed to brand FAILURE upon all concerned last week, was in fact a pair of alternatives. The Allies could take their choice, and in either case they would get 15 billion dollars over 37 years. The first offer (which so enraged the French and British that they almost...
...matters are not to be improved by saying to Germany, you are guilty. And the Allied representatives, under the leadership of Owen D. Young are pursuing the only salutary course for the good of the world in trying to meet Dr. Schacht, the German spokesman, half way. External war debts, on such a scale as at present, are a new phenomenon in international affairs. Their effect on the national economy is not well understood, and so long as the world sticks to its determination to see them paid, payment must proceed slowly and be safeguarded as far as possible...
...such parlous times it behooves all those in power to tread carefully. Bold words and recriminations are not to be valued when they promise to prove boomerangs. Dr. Schacht has indeed acted strangely in receiving Allied reductions so coldly, and precipitating the present impasse. He seems to be playing for high stakes, and Germany stands to lose heavily if he loses. The members of the Committee and their governments are eager to avoid the abyss which he has opened before them, but there is great question whether governments do not move so ponderously that even though the will...
...quite a pot of money. Still, to a really potent babe (born yesterday and with 58 years in which to grow up paying on the installment plan), even $466 or 1,957 gold marks may not seem onerous. Certainly nothing plaintive was said last week by Dr. Hjalmar Schacht, President of the Reichsbank and chief of the German delegation at Paris. Emerging from the secret session at which the $28,000,000,000 bill was presented, Dr. Schacht merely roared at correspondents: "Neither the figures nor the conditions are acceptable to Germany! We would rather-far rather-remain under...