THE PRESIDENCY: Stream Crossed

When is Europe's business the business of the U. S.?

Steadfastly since the Versailles Peace Conference (1919) the Republican Party has answered, "Never, except in such specific matters as naval equipment and narcotics control.'' But the U. S. has $1,350,000,000 invested in Germany. And Herbert Hoover has moved around the world enough to appreciate how, increasingly, Europe's business affects U. S. business. As France well guessed, it was not pure altruism that made a Republican U. S. President call for an international debt holiday to save Germany from fiscal chaos. Through the...

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