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general unreliability of both the Germans and the Russians at the time of the First World War. At the time that the First World War broke out it was in the face of all kinds of agreements. Both sides were perfectly willing to strike where the striking was good. I remember feeling then, “There's no certainty that these agreements will be solemnly kept.” But I had nothing else to go on.

It was astonishing, at any rate, to see it break up so quickly. I think most people had thought that the Russians would breach the agreement. Of course, after the Russians were attacked, and wanted everybody's help and friendship, they made out that their hearts never had been with Ribbentrop and that this was merely a temporary expedient to keep the Germans away until they had time to get ready. But I think that was an obvious kind of a late story. I haven't read enough in history to know whether from the Russian side enough has yet been revealed as to what really did happen before and during the agreement. Were the Russians taken off their feet by surprise when the Germans turned against them? I haven't read enough to know.

On July 16, 1941 there was a meeting at the Federal Reserve Building to consider the problem of inflation. I think a committee to consider this problem had been appointed a good while before this and had been meeting for sometime. It originally started with the number one person from every