Dr. Sprague's Translation For Dr. 0. M. Sprague to find
himself one day Adviser to the Bank of England and the next Adviser to the President of the United States is a sufficiently sharp tran- sition, which loses nothing of its effect from occurring within three weeks of the opening of the Economic Con- ference. But the appointment on the whole is to be wel- comed. It is all to the good that Mr. Roosevelt should have in his immediate entourage (whether as a member of the celebrated " brains trust " or not) a man who understands financial. trends in this country, and in par- ticular, of course, the policy of the Bank of England, as well as Dr. Sprague has learned to do in his three years as Adviser to the Bank. The change is not likely to have been made without Mr. Montagu Norman's full concur- rence. Dr. Sprague is himself an American, and it is manifestly appropriate that he should be advising his own country at a juncture so important as this. It so happens that his advice is likely to be such as most people here would approve.
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