THE PRESIDENCY: The Last Six Words

One night last week, as the first evening bombs began to fall on London, the Churchill Government ordered all British holdings of 164 specified issues of marketable U. S. securities sold immediately to the British Treasury. The order indicated that Britain was running short of U. S. exchange. Although only $780,000,000 in actual goods shipments moved to England in the war's first twelvemonth, $2,500,000,000 in total orders had been placed in the U. S. by the British Purchasing Commission.

At week's end the amiable, rumpled Marquess of Lothian, returning to his post after a visit to Britain, stepped off the...

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