THE PRESIDENCY: Two at a Table

Most of the civilized world last week bated its breath on the eve of President-elect Roosevelt's White House conference with President Hoover on War Debts. All Europe had the idea that its economic fate was in the four hands—two of them long and sinewy, the other two white and heavy —at the White House table. Most U. S. citizens previewed the meeting as necessary and important but not epochal. Day after his return from California President Hoover picked up his desk telephone to find Governor Roosevelt talking from his Albany study. Their opening exchanges were easy, informal. Despite the campaign they were, after all, old friends from War days in Washington. The President inquired after the Governor's health, was glad to know he had recovered from influenza (see p. 12). The Governor suggested a day and hour on which to accept the President's invitation to the White House, adding that he would like to bring to the meeting one personal adviser. That was all right with the President who said he would have Secretary of the Treasury Mills at his elbow. "Good-by, Mr. President." "Good-by, Governor." Governor Roosevelt's adviser is Raymond Moley, 46-year-old professor of public law at Columbia University. An expert on criminal procedure rather than international economics, Professor Moley is a stocky, thin-haired pedagog who began his career as an Ohio schoolteacher. As Governor of New York, Al Smith first discovered him as a useful citizen to have in the background. Long a Roosevelt friend, he accompanied the Democratic nominee this fall on his campaign travels as chief factfinder and statistician. The Press glibly called him the head of the Roosevelt "brain trust." He compiled data from which Governor Roosevelt composed his speeches, supplied technical advice, kept modestly out of the spotlight. Last week Professor Moley boned up on War Debts before accompanying the President-elect to the White House. Before the 31st and 32nd Presidents was this international situation: Britain. France, Belgium and Czechoslovakia had formally asked the U. S. to suspend $118,436,438 in debt payments due Dec. 15 and simultaneously to authorize a reconsideration of their total $8,443,000,000 War debt principal. Because he was going out of office President Hoover called his successor to Washington to help formulate a continuing national policy. Governor Roosevelt's stipulation was that the meeting be "informal and personal." The next President was ready to discuss and confer but he was unwilling to commit himself to a major foreign program three months before taking office. President Hoover was reported to have a variety of plans ready to suggest in the hope that Governor