Editorials.

This article focuses on the prevailing political conditions in the U.S. and around the world. It has taken more than six months to force the British Government out of almost benevolent neutrality into this avowed pessimism. In those months unemployment has grown in England, the French franc has fallen and in Germany the results, which Prime Minister of Great Britain Stanley Baldwin now predicts, have already occurred. The time to predict them has passed. Germany is in economic chaos today. Social and industrial ruin is following. The mark has dropped, since the poilus entered the Ruhr, from one-tenth to four ten-thousandths of a cent. The sober basis of national economic life in Germany has gone.