Prosperity now sweeping in from coast and Middle West will soon be upon us. Even business which turned away from us in last campaign in the hope that Excess Profit Tax and other burdensome taxes would be reduced, will soon find out how fatuous and futile is the Republican policy. Many Progressive leaders will soon come to the front and will take up the work left undone by Roosevelt. My opinion, therefore, is that what action you take in this matter should await the turn of the tide so that as the hopes of Democracy rise and success for 1920 looks more promising than it does to-day, then that time in my opinion will offer the psychological moment for you to say what really is in your heart about a third term and thus help not only the party but the League of Nations. Therefore, until the psychological moment comes, the politic thing to do is to keep "mum" about this matter and await the happenings of the future. TUMULTY. A clear, inside view of the feeling of the man toward the Treaty, his deep heart interest in it, and his characterization of the opposition were disclosed in a speech delivered by him to the members of the Democratic National Committee at the White House on February 28, 1919. This speech is now published for the first time, and is as follows: The real issue of the day, gentlemen, is the League of Nations, and I think we must be very careful to serve the country in the right way with regard to that issue. We ought not, as I know you already feel from the character of the action you have just taken—we ought not even to create the appearance of trying to make that a party issue. And I suggested this to Mr. Cummings and the others who sat by me: I think it would be wise if the several National Committeemen were to get in touch with their state organizations upon returning home and suggest this course of action—that the Democratic state organizations get into conference with the Republican state organizations and say to them: "Here is this great issue upon which the future peace of the world depends; it ought not to be made a party issue or to divide upon party lines; the country ought to support it regardless of party (as you stated in your resolution); now we propose to you that you pass resolutions supporting it, as we intend to do, and we will not anticipate you in the matter if you agree to that policy; let us stand back of it and not make a party issue of it." Of course, if they decline, then it is perfectly legitimate, it seems to me, for the Democratic organization if it pleases to pass resolutions, framing these resolutions in as non-partisan language as is possible, but nevertheless doing what citizens ought to do in matters of this sort. But not without first making it a matter of party record that it has