doubt continued to be pressed on three other points: Were the annual payments stipulated by the Dawes committee such

1924; French exchange stood at the highest in twelve months.

could mistake the meaning of

possible for the German Government to transfer the funds from Berlin to foreign markets without completely demoralizing exchange? Would Germany give final acceptance unless the sum total of reparation payments were agreed on, and would France assent to that?

THE objections based on the probable

the Governments

attitude of the governments were dislodged with wholly unexpected suddenness. Whereas general expectation had been that prolonged delay would be inevitable before the governments Attitude of concerned could pass on the recommendations, the French premier announced, only two days after the report, that France was ready to accept it. On that same day, April 11, both the British and German governments gave their answer; the Ministry at London declaring itself prepared "to support the scheme in its entirety provided all other parties concerned are willing to take the same course," while the German Foreign Office formally declared that "there was never for a moment the thought of anything but unconditional acceptance of the invitation from the Reparation Commission to accept the experts' report as a basis for arriving at a final solution of the reparation tangle-if only for the reason that Germany, for more than a year, has been courting an expert investigation of her economic capacity."

in Foreign

able degree it was interpreted in the light of the preceding movement of the markets. There had been substantial recovery in all of these rates before the Dawes report was pubRecovery lished; but that had followed Exchange the continuous and severe decline which had occurred when the French occupation of the Ruhr in January, 1923, and the subsequent dispute with England, seemed to have postponed indefinitely every chance of European settlement.

When the committee of experts went to work in January, it was already evident that the political situation, and with it what might be called the psychology of the reparations problem, had been radically changed. It was changed not only as compared with January 2, 1923, on which day the Anglo-French conference at Paris adjourned in disagreement, but as compared with June 10, 1922, when the international committee of bankers relinquished its discussion of a foreign loan for Germany, on the ground that France "does not desire any inquiry into the more general conditions necessary for the re-establishment of Germany's external credit." This change was of special significance, so far as concerned the reparations discussion, in the following particulars:

FIRST, Germany had recognized the

The

Changed
Political

Background

It was in the market for European exchange that these unexpectedly rapid developments had their first visible effect. They were not reflected in the stock markets; on the contrary, prices even of home government bonds on the London and Paris stock exchanges were substantially unchanged at the end of April from their prices of April 9, and the New York stock market had drifted to a generally lower level. But sterling exchange had risen during this period from $4.33% to $4.40, the French franc from 6 cents to 67%, the Italian lira from 438 cents to 41⁄2, and the Belgian franc from 47% to 534. All these exchanges reached the highest point of

EDITORI

Thomas Boyd's "Rintintin" in the April number started things humming among those who had any hand in the late war. A "Y" man criticises the story sharply on the ground that Boyd sees nothing but the "sordid and seamy phases" and that the psychology is faulty. In his wide experience, he says, he never "met, heard of, nor authentically read of any group of men who reacted to war conditions as portrayed by Boyd."

Then, as if in answer, two of those whom Mr. Young never met-one a general in the Marines and the other a private in the Engineers-rise up and seem to contradict.

HOW THE "Y" MAN FEELS ABOUT BOYD

Dear Editor: Having in mind the high literary standard always maintained by your magazine I started to read “Rintintin” in the April number with more than usual anticipation of finding something really good in a story of the Great War, not noticing that it was by the author of "Through the Wheat."

As a portrayer of army life, or rather as to its effect on the thoughts and feelings of the men engaged therein, Boyd is possibly the poorest of all our writers on the War, for the reason that his mind absorbed at the time, and now spews forth, nothing but the sordid and seamy phases. As I now recall, none of the characters in his book had a single redeeming feature; all of them-officer, non-com, private, chaplain, Y. M. C. A. and Red Cross worker-could only be aptly described by that vulgar though vivid term which one is supposed to say with a smile unless he wants to fight.

I think I am fairly well qualified to express an opinion on this subject. My ancestors fought in the Colonial Wars, the Revolution, War of 1812, and Civil War; and I served for six months in the Spanish War; as a member of the Loyal Legion I have listened by the hour to the personal experiences of the veterans of our Civil War, and have read extensively of that period in our history. Coupled with that, my nine months "Y" work after the Armistice in France and Germany

brought me into close personal touch with the officers and men of two of our leading combat divisions-the 82nd and 89th, and so I think I know something of the lights and shadows of war and camp life-its comedies and horrors, temptations and sufferings, debasing and ennobling tendencies-but I never met, heard of, nor authentically read of any group of men who reacted to war conditions as portrayed by Boyd.

Boyd saw actual service in the War and his writings no doubt truly reflect his personal feelings and reactions, and are psychologically interesting from that standpoint, but are otherwise most inaccurate and one-sided. His "Through the Wheat" is comparable to the case of a woman from another world, where civilization has progressed to a point where babies are produced synthetically, being banished for a year to our world; and who on her return writes a book purporting to truly portray family life here, and limits same to realistic descriptions of all the unpleasant features attendant on babyhood from the pangs of child-birth to the washing of diapers. JARED W. YOUNG,

New York City.

BUT THE GENERAL WRITES

In a letter to Mr. Boyd, General Logan Feland writes from U. S. Marine Headquarters in Washington:

Last night I read your story, "Rintintin." It is the only good war story I have seen. Generally, I throw them down with a feeling of impatience that a man with power of expression should have had so little perception as to what was going on under the hundreds of thousands of tin hats in France.

AND THE PRIVATE AGREES REALISTICALLY

"Rintintin" recalled to me more vividly than any war story I have ever read, the old memories so close to every ex-soldier's heart.

Involuntarily I unbuttoned my vest, as I neared the end of the story, and reached in with my hand to massage a shrinking bit of flesh where recently a cootie had traversed. I shivered dismally as I felt cold dank wet seep up through my

blanket as I lay in a pup tent while the relentless rain beat down. I cursed. I was back there again for a time.

Glancing up, I saw the sunshine, felt clean, and realized I was reading a story-but what a story!

Yes, I must confess. I try to write a little myself. But so far, death notices in the morning edi

The political pot seethes merrily. Within a few days after this number of the magazine appears, politicians from throughout the length and breadth of these United States will foregather in New York or Cleveland, according to their political allegiances, and select candidates for the presidency. There has been some talk of a third party, but no one has as yet seriously launched one. Therefore we take the ballot in our teeth and do just that.

The boom for Phelps was started by E. C. Venable. Should the motive be subject to an investigation by the Senate, we can prove that the appearance of "Mr. Manton at Sea" and Mr. Phelps's praise of Venable in "As I Like It" in this number was a happy chance and not the result of collusion. When informed of the colyumist's opinion concerning him, Mr. Venable's comment was:

"I think Mr. Phelps should be our next President."

CABINET

SECRETARY OF STATE
W. C. BROWNELL

SECRETARY OF THE NAVY
HARRIET WELLES

SECRETARY OF THE INTERIOR
STRUTHERS BURT

SECRETARY OF THE EXTERIOR
MARY LEE DAVIS

SECRETARY OF COMMERCE
LEIGHTON PARKS

DIRECTOR OF HEALTH

WILL JAMES

CENSOR OF ALL THE CENSORS

GEORGE MARION, JR.

GUARDIAN OF THE FREE PRESS

JOHN FINLEY

DEUS EX MACHINA

EDWARD C. VENABLE

And that started it. Then Mr. Polley made a statement that branded him as a candidate for the vice-presidency at once.

We second Mr. Venable's endorsement of Phelps for President and point with pride to his qualifications-in this number, he defends a governor who is accused of caring more for literature than politics; his photograph reproduced above shows that at an early age he had determination and an inquiring mind; he has already delivered his campaign speeches in every state in the Union.

As Mr. Phelps's running mate, Frederick Polley is eminently qualified-because he said "I would rather stand on the street corner and sketch than be President of the United States"; because the position would provide him with leisure to carry out his wish; because an artist as Vice-President would be unique in the annals of the country.

(Continued on page 95)

(Continued from page 82)

Since we believe in open governments, openly arrived at, we also include the Cabinet on our slate. We present below enough facts about each Cabinet officer to place him head and shoulders above competition.

W. C. Brownell for Secretary of StateBecause of his diplomatic handling of the question of style in literature and in life; because he makes no statement without careful consideration; because he has the mien of a diplomat.

Harriet Welles for Secretary of the Navy

Because she is the wife of an admiral of "the old navy"; because her sea-stories show that she knows the navy; because she reveals herself as somewhat sceptical of "progress" and overorganization in her story in this number.

Struthers Burt for Secretary of the Interior -Because whether it be the heart and mind of a person or of America, he understands it; because he is neither a hundred percenter nor a hundred dissenter; because he can keep up his belief in America despite a recognition of its many faults.

Mary Lee Davis for Secretary of the Exterior-Because her article points out the need of this new Cabinet office, because she knows Alaska inside and out, having lived there eight years and taken all the known trails; because her life as a real contemporary ancestor has given her an understanding of the colonial situation.

Leighton Parks for Secretary of Commerce -Because he believes in commerce in ideas as well as in material products; because he handles his material from a national and international, as well as local, view-point.

Will James for Director of Health-Because he lives and looks the part; because you can trust what he says about the hardships and delights of the West; because the romantic flavor which he puts into his cowboy articles would make any one want to hit the trail for the great open spaces.

George Marion, Jr., for Censor of All the Censors Because he doesn't take himself too seriously; because he has come into intimate contact with the legitimate stage through his father; because he has so far steered successfully through the movie censorship and written some famous scenarios for screen stars.

John Finley for Guardian of the Free Press -Because, despite the fact that he is associate editor of the New York Times, he can write poetry, and vice versa; because he has been

the head of several educational institutions, and taught in many more, but still remembers his football days; because he knows the function of the press.

Edward C. Venable for Deus ex MachinaBecause every Cabinet or every President has one; because he started this thing.

From the quality of these candidates it is plain that we are not complicating national politics without good reason. We make no

apology for inserting new offices. Their need is self-evident. We are merely bringing to light some that have existed sub rosa and including others that will be beneficial to the country. Although we do not approve of bureaucracy, we have others to add next month and we shall be glad to consider any other offices or any other candidates that SCRIBNER'S readers are in favor of including.

: Offers from the Democratic and Republican national chairmen to adopt this slate in whole or in part will not be considered.

ANOTHER RISE BY EAST

A reader from the section of Illinois where Dr. East used to live disagrees with his conclusions on the enlarging of agricultural activities.

Dear Editor: The articles of Prof. East's which you have been publishing in SCRIBNER'S are very interesting. However, it seems to me, on certain points in the March issue, his statements do not agree with the facts. In the latter part of the article he leads one to believe that we may expect to have farming conducted in very large units, in the future. His statement is "comparable in size and scope to the United States Steel Corporation." Men who have made careful study of farm organization problems are agreed that the moderate-sized farm business is more efficient than the unduly large. The history of farming bears out this conclusion. It is well illustrated at the present time when the medium sized farms are weathering the stress of low prices better than the large farms which need a great deal of hired labor. Of course, a great many farms are too small to be efficient units; and the most efficient size is becoming larger because of the application of power, which makes it possible for the individual to work more acres. Yet the size unit which can be operated most economically remains, and there are very good chances that it will continue to remain, a relatively small business, in comparison with the development in other lines of industry. The art of agriculture is not so difficult that it cannot be developed to a very high degree by men who are not highly trained in the science of it.

Professor East cites the co-operatives as example of large-scale agricultural operations. All

the co-operative marketing associations recognize that farming must of necessity be conducted as a small-scale business, but that the efficient production unit is not large enough to be an efficient marketing unit. The co-operative association has been devised to meet this situation. The cooperative takes over the products at the point where large-scale operations are an advantage. They are not, however, examples of large-scale operations in agricultural production. They are rather a recognition that the economical unit in farming is a comparatively small business. L. J. NORTON,

Champaign, Ill.

To which Doctor East replies:

Dear Mr. Norton: Your letter referred to me by the editor of SCRIBNER'S MAGAZINE appears to come from a very familiar address as I think I used to live in a house very near it.

I do not think you are correct in assuming that farming to be efficient must be conducted on a small scale. I have just returned from Cuba, where I was visiting the E. F. Atkins Estates. I know of no farming operations conducted more efficiently than on these estates where over three hundred thousand acres are under one management.

Immediate management must be conducted on comparatively small farms of course, and for this reason the sugar estates are divided into what they call "colonias" of from three thousand to eight thousand acres. My idea is that many units which are as large as it is found practicable will ultimately be under one general management with a single policy. I am not alone in this, as such eminent economists as Carver and Elwood Mead are in agreement that this is the trend of agriculture. Even in your own section the best farm I know is that of the Funk Brothers, and if I am not mistaken it is over twenty-five thousand acres. Furthermore, I believe that the Funk Brothers could run a farm four times as large just as efficiently. You say that the Cooperative Market Associations recognized that "farming must of necessity be conducted as a small-scale business." I have made a rather thorough investigation on the grounds of the citrus industry in California, and most certainly that is not the idea of men like H. J. Webber and Elwood Mead, who ought to know the subject rather well. EDWARD M. EAST.

To be successful, fiction must strike some universal note. Some one else has said this obvious thing, we are sure. And we are receiving evidences of its truth continually. Here is one:

Dear Editor: I have just finished reading the story in your magazine for April entitled "Apollo d'Oro" by Clarke Knowlton.

I could not help writing you, to tell you what a really remarkable story it is. It is by far the most interesting story I have read for some time.

Maybe it interested me more than usual for the reason that I was under almost similar circumstances less than a year ago and Knowlton has in so many ways "hit the nail on the head."

If Knowlton's stories in the future come up to this one, I believe SCRIBNER'S has discovered "a new find." COPELIN R. DAY,

Essex-on-Lake Champlain, N. Y.

SAID MR. ROBINSON TO MR. PHELPS

(Ted Robinson, conductor of "The Philosopher of Folly," in the Cleveland Plain Dealer, objects to having anonymity thrust upon him. Doctor Phelps sympathizes. These are two excerpts from the journal in Ted's column.)

April 1-While we are kicking, let us complain of William Lyon Phelps, who, in the current number of SCRIBNER'S, quotes at some length from this Journal, but is so stingy in his credit that he refers vaguely to us as "a columnist." We admire modesty in ourselves, but don't require other people to be modest for us. Tell 'em who it is that you're quoting, next time, Professor. won't hurt you, and will be gratifying to the columnist, who thrives on publicity.

April 9-We have received a nice letter from Doctor William Lyon Phelps, professor of English Literature at Yale, and author of "As I Like It" in SCRIBNER'S MAGAZINE, apologizing for not attaching due credit to the clipping he reprinted from this column. And now we are ashamed of Phelps the clipping did not tell him where he got the kick we made. The person who sent Doctor it. And Doctor Phelps tells us that the poet referred to by St. Paul (whom we blamed for introducing the style of non-credits) was Aratus of Tarsus, and the work quoted from was "The Phenomena." "The old bird," says our learned correspondent, "was born about 315, B. C. He was, like most Americans, ignorant of astronomy, though something of a star himself. The Romans who could translate the Greek literally regarded Aratus as 'hot stuff.""

And to complete the good work we add that the reference was to "Bible Stories in Rhyme," which Ted added to the worldsworst literature, with Doctor Phelps's hearty second.

Speaking of misplaced books-as we were last month-has any one, in browsing in biographical sections, found Santayana's "Life of Reason"?