Neutrality Act of 1936
The Neutrality Act of 1936, passed in February of that year, renewed the provisions of the 1935 act for another 14 months. It also forbade all loans or credits to belligerents.
However, this act did not cover "civil wars," such as that in Spain (1936-1939), nor did it cover materials such as trucks and oil. U.S. companies such as Texaco, Standard Oil, Ford, General Motors, and Studebaker used this loophole to sell such items to Franco on credit. By 1939, Franco owed these and other companies more than $100,000,000.
Read more about this topic: Neutrality Acts Of 1930s
Famous quotes containing the words neutrality and/or act:
“My father and I were always on the most distant terms when I was a boy—a sort of armed neutrality, so to speak. At irregular intervals this neutrality was broken, and suffering ensued; but I will be candid enough to say that the breaking and the suffering were always divided up with strict impartiality between us—which is to say, my father did the breaking, and I did the suffering.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“Pretension may sit still, but cannot act. Pretension never feigned an act of real greatness. Pretension never wrote an Iliad, nor drove back Xerxes, nor christianized the world, nor abolished slavery.”
—Ralph Waldo Emerson (1803–1882)