Herewith is a reprint of a TIME story, written by one of our editors and published in our issue of March 5, 1945. I believe it will repay a second reading as the world enters the new year, 1948.

The Big Three Conferees dispersed under cover of an all but newsless fog of military security. But here & there was vouchsafed a glimpse—such as Franklin Roosevelt's afterdeck chats with Near Eastern potentates; here & there a sound, like the short snort from Socialism's old warhorse, George Bernard Shaw. Snorted Shaw: "[The Yalta Conference is]...

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