Debtors Serve Summons.

The threat of bankruptcy, and the armaments threat, were both at a peak in mid-November. Concerning the former, America's silence had to be broken. It was inevitable that when the hush-hush of the U.S. election party tactics was over, Europe would at last dare to mention debts in the hearing of the President and the President-elect; and the prompt arrival at Washington of British and French Notes requesting postponement of debt-payments was the necessary calling back of public attention to the world's paralysing indebtedness. Messrs. Hoover and Roosevelt, the two men who, for party purposes, had averted their gaze to other issues during weeks of home campaigning, were at last free, after the great election, to listen to Europe. Unfortunately the President and the President-elect are not, as sometimes happens, the same man.