On a cool early morning in autumn, New York City's Park Avenue is a quiet place to walk. Town-house curtains are drawn against the dawn; broad sidewalks are bare of people. Yawning, hotel doormen crack their white-gloved knuckles in boredom.

From his regular 45-minute morning constitutional on Park Avenue, Herbert Hoover returned one day last week to his Waldorf-Astoria sitting-room suite, summoned the press. He had polished up a 1932 idea to fit the exigencies of the Great Debate on U. S. neutrality.

On the grounds that both repeal or retention of the Neutrality...

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