Abstract

Editorials

The article focuses on the political and social conditions of various parts of the world. The first effect of U.S. President's announcement of the 59.06-cent dollar was a widespread expression of approval by bankers and monetary authorities and a vigorous advance in the speculative markets. The speculative rise was in part due to the fact that the rate fixed for the dollar was somewhat lower than that already prevailing on the foreign exchanges, but the reason for the general optimism went deeper than that. The National Labor Board was originally set up last August, to quote a statement by U.S. President Franklin D. Roosevelt at the time, as "a tribunal to pass promptly on any case of hardship or dispute that may arise from interpretation or application of the President's Reemployment Agreement."