Business: Lapses & Leniency

When Otto Hermann Kahn testified last month before the Senate Finance Committee on international banking and War Debts, he was asked for a list of defaulted foreign bonds held in the U. S. Obliging Banker Kahn got a list from the Institute of International Finance. Made public last week by the Senate Committee, the list was gloomy reading, showed $815,000,000 worth of dollar bonds in default. There were 57 issues listed, every one the obligation of some South American government, state or municipality. Bolivia, Brazil, Chile. Peru have...

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