Trade outruns diplomacy. Last week while the State Department was talking about Soviet Russia in the language of 1923, U. S. businessmen were talking about it in terms of 1930. The Treasury's "half-cocked" embargo on Soviet pulpwood fortnight ago had served to point up the whole question of U. S.-U. S. S. R. relations, economic and diplomatic, in a new light (TIME, Aug. 11, et ante). Speakers at the Institute of Politics at Williamstown, Mass., had frankly advocated U. S. recognition of the Soviet Government. Last week Albert Ottinger, one-time New York...
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