FINLAND: Paid in Full

Finland's last "golden schooner" slid into Russian waters last week. Named for the bright brass and copper alloy used for its fittings, the schooner meant gold for Russia in another sense: it was the final payment of doughty Finland's $570 million reparations debt to Russia. Finland thus lived up to a reputation established as the only World War I debtor nation which punctually made its payments to the U.S.

For eight years the Finns, their territory reduced 12% by Russia's annexation of Karelia and Petsamo province, have worked in shipyards, lumber camps,...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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