With his back to the wall of Germany's new moratorium (TIME, June 18), Dr. Hjalmar Schacht, iron-willed President of the Reichsbank, bristled into action last week as a Briton no less stubborn took drastic steps in London to make Germany pay.
Chancellor of the Exchequer Neville Chamberlain, who has a gentlemanly aversion to naming names, asked the House of Commons to empower him to collect "certain debts" from "certain foreign countries" by the extraordinary step of seizing the proceeds of their exports to the United Kingdom, at the discretion of His Majesty's Government. The...
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