• * * * The importance of Mr. Norman Davis'
conversations with the Prime Minister this week is not what a good many papers, who erroneously describe Mr. Davis as head of the American Delegation at the Disarmament Conference, suggest. A Democrat could obviously not head the delegation of a Republican administration. But a Democratic member of the delegation, who happens also to be a highly experienced financier, and is rather more likely than anyone else (with the possible exception of Mr. Newton Baker) to become Secretary of State next March if Mr. Roosevelt is elected President, is eminently someone worth listening to,—as Mr. Davis always would be even if you never met him outside his home town. * *