A Polite Parley.

At time of writing (27th Oct.) the press communique of the Hoover-Laval conversations in Washington contains no word of disarmament, but says: “The United States is ready to do its share as a contribution to world stability; the reopening of debt questions is expected to follow immediately on any change in reparations.” Also, “Germany is expected shortly to take the initiative by asking for relief from her enormous reparations burden.” That is the interesting point at which world-politics now appear to stand. Not merely world-politics, but world-economics. As the Hoover-Laval statement puts it, co-operation of statesmen is imperative “at a time when the world looks for leadership in relief from the depression which reaches into countless homes in every land.” It is not merely politics. It is bread and butter.