At Warm Springs, Ga.,
 
 
December 2, 1935.
 
 
My dear Dodd:-
 
 
I am glad to know from yours of
 
October thirty-first that I was right in assuming
 
that there had been no real change in German
 
policy for the last few months. It seems clear
 
that from the point of view of the group which
 
now controls the destinies of the German people,
 
their policy is succeeding admirably. Germany
 
got an acceptance, passive though it may have
 
been, of her rearmament by land and sea. Germany
 
                                                               .
has kept out of the Italian situation by resign-
 
ing from Geneva. Germany seems to be starving
 
off actual bankruptcy through the tricky Schacht
 
policies which win him the admiration of the
 
international bankers.
 
 
I wish I could talk with you at
 
length in regard to the Neutrality situation.
 
If you had been here I do not think that you 
 
would have felt the Senate Bill last August 
 
was an unmitigated evil. The crux of the 
 
matter lies in the deep question of allowing 
 
some discretion to the Chief Executive. Quite 
 
aside from any connection with the League, 
 
the President should have some discretion. For 
 
example, if some European power were to seek, 
 
by force of arms, a raw material source in South
 
America, we should have to take sides and might, 
 
without going to war ourselves, assist the South 
 
American nation with supplies of one kind or 
 
another. Complete stoppage of all arms material