There is no reason to doubt the sincerity of these
declarations. What is in question is the capacity of the Chancellor to grapple with the responsibilities now resting on him. He is clearly carrying the chiefs of the Reichswehr with him, and that is the best thing that could happen for the internal stability of Germany. But it marks the Reichsfiihrer as much more a national than a party figure, and some partisan discontents and recriminations are to be expected in consequence. And neither the confidence of the Reichswehr nor any popular vote at the plebiscite of the 19th is likely to help much towards a solution of the economic problems facing the country today. In some ways the appointment of Dr. Schacht to control the economic policy of Germany, as he already controls its financial policy, is even more important than the new distinctions showered on the Chancellor. An economic crisis in the autumn and early winter is inevitable. Whether a political crisis, in which the Vatican may have some part to play, is in the wind is less certain. An article on a later page of this issue puts in concrete form suggestions and rumours that have for some time been current beneath the surface in certain circles in Germany. While it would be a mistake to attach exaggerated importance to them, they reflect unofficial dis7 cussion sufficiently to entitle them to serious consideration.
