Word: token
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Dates: during 1930-1939
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...Britons left the White House and they did not leave with a smile. "There is no statement," Sir Frederick and Sir Ronald snapped in unison to newshawks. Few days later President Roosevelt announced that Britain would pay 7,500,000 U. S. dollars as a "token" on Dec. 15 in- stead of the $117,000,000 due. and that the negotiations would be abandoned until a more "propitious time...
...rumors of a monetary truce between Great Britain and the U. S. whereby dollar and pound would be "loosely" pegged while the U. S. pursued its gold-buying program. As for War debts, observers predicted that Sir Frederick would soon go home without anything having been settled except another "token payment" by Britain in December, signifying that her debt ($4,500,000,000) still stands and will be paid, in part, whenever the U. S. decides how many of what kind of dollars it will accept. Looming on the President's list of callers and obstructing Sir Frederick...
...since Congress is not to meet until January, Sir Frederick and President Roosevelt face the pressing issue of what to do on Dec. 15, when a British annuity payment of $117,000,000 falls due. On the previous annuity date, last June 15, the President accepted a British "token payment" of $10,000,000 in lieu of the $76,000,000 then due. In London last week City financiers were confident that Sir Frederick will offer a "much larger token" on Dec. 15, hoping thus to put Congress in a lenient frame of mind...
...which crosses the Atlantic will have more of a nuisance value than a commercial one, and will tangibly lower the nation's diplomatic batting average. The failure of ninety-five per cent of the debt-payments due last year resulted not merely from the poverty of the defaulting and token-paying countries, but also from the lack of any pre-arranged agreement acceptable to both sides...
...pleas for cancelling the account. This winter will find the situation altered, with an English government unwilling to assume the political dishonor of being the only one not to default. The United States, having taken neither official satisfaction from the full payment of December, nor official umbrage at the token of June, has left it in the able hands of Mr. Oltamberlain to shift from business ethics to hard reality. America must make the same change in its own attitude...