National Affairs: Debt Funding

Secretary of the Treasury Mellon announced last week that he had come to an agreement with Antonious Piip. Mr. Piip is Minister Extraordinary and Plenipotentiary from the Republic of Esthonia. They agreed on the terms of repayment of Esthonia's debt of $13,831,441.88 to the U. S. Esthonia is to pay $1,441.88 at once and will repay the rest over 62 years with interest at 3% and 3½%.

The mission for the funding of the Italian debt to the U. S. arrived in Washington and opened negotiations—without announcing that it would go home on a...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!