When President Eduard Benes, after yielding to the Munich demands, obtained by his last appeal to Prime Minister Neville Chamberlain an immediate British loan of $50,000,000 to Czechoslovakia, he had played his last card.

Dr. Benes last week resigned as President, leaving Czechoslovakia in the firm hands of Premier-General Jan Syrovy, and taking leave of his countrymen in an affecting broadcast which acknowledged with dignity that there must now be a change. Dr. Benes, who is independently well off, retired to his 100-acre estate near Prague, where his gardener exulted: "This is...

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