“Whitecloth threatened a Defense Mobilization Order, and then sort of backed off,” Chelan continued.  “We may get there again, even though they have no idea of what we can and cannot build at the moment.  However, I believe what we need to do is to accelerate our progress, and be seen to be doing so, as a gesture of good faith.  I would not ask this of the small bondholders, or of the benevolent trusts,  but for large private investors and investment banks you might seriously consider proposing a payment rescheduling.  I have already put this question to the Seldon Legion, and will copy their example, namely our repayments will be postponed, the money instead being used as corporate investment.  That will significantly relieve our challenge of paying for technical peopleto get the ships flying again.”

Margaret Evans grimaced.  “I will tell the Georgia Benevolent Trust what you have said, and why , but we’re getting a lot of pressure from people concerned about their pensions.”

“Up to the partners,” Goldsmith said.  “Though the Stellar Republic is not well-loved in my part of the country, and your theme sticks them in the eye. We would at least be wanting the delayed repayment to be a fresh loan at the standard interest rate, or something similar that makes the accountants happy and the other noteholders not unhappy.”

“Diluting our share of the debt is not acceptable,” Rose Cohen said, “and I anticipate that the Oregon Chancery Court will agree.”

Lawrence Morningstar took another sip of his coffee.  “My partners are unpleasantly familiar with the occasional need to do something for political reasons, however much the taste is rotten.  However, I can’t imagine that there will not be fresh elections in the near future.  The Nerps have done themselves ill and will be paying a big price, at least in the short term.  I’m so sad.”

“I believe, Rose,” Chelan said, “that there are paths to adding to debt, without diluting your repayments.  I will oppose any scheme that does dilute your repayment claims.”