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Great Britain and America having now no fear or jealousy

of each other could arrange a permanent peace to-morrow. But other nations have to be brought in. The Latin nations will need a great deal of persuasion. They will raise Constitutional objections. The one clear thing is that the United States and Great Britain in combination have a fair hope of bringing the other nations into line and that there is no other hope. We have written on this subject in our first leading article, and shall say no more here than that we are grateful to Mr. Hoover, and that we are sure that there will be an enthusiastic willingness in this country to try to build with him a new international edifice.

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