Since the Hoover Moratorium ended in 1932, the U. S. State Department has been sending semiannual duns to those governments which have defaulted on debts totaling $11,000,000,000. Last week a defaulter answered. Hungary announced that on Dec. 15 it would make a payment of $9,828.16, first by a defaulting nation* since Great Britain ceased its "token" payments in 1933. Hungary's payment, also a token, amounted to 22.8ยข per dollar on the semiannual payment due.
Not a War debt, Hungary's obligation arose from the purchase of flour from the U. S. Grain Corporation in 1920,...
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