America's Recovery President Roosevelt continues his conquering progress. The banking
situation has, of course, not yet righted itself, for the weeding out of the insolvent institutions continues and must continue for some time yet. But in centres like New York business is being conducted as usual, and the best evidence of the return to normality is that the American banking system has already gone out of the news in the British Press. The President is now turning his attention to unemployment and seeking powers to enrol a quarter of a million men immediately in a peace-time labour army to tickle afforestation and other public works at a wage of 80 dollars a month with food and housing. He has always believed profoundly in the development of America's natural resources. Movement in the field of foreign policy may now be looked for. Mr. Norman Davis is coming back to Europe with the rank of Ambassador and a roving com- mission which apparently extends outside the Disarma- ment and Economic Conferences. Authorization for the President to impose an arms export embargo in case of need is being sought from Congress—a movement which may yet have effects at Geneva. As to debts, reports are contradictory, one account suggesting that Mr. Roosevelt is taking power to handle the situation as he thinks best, while another attributes to "The White House" the categorical statement that there will be no remission of the payments due in June. The general conclusion to which everything points is that America has rapidly found her feet again and is preparing to pull her full weight in the councils of the world.
• * •
