Thursday, July 17, 1930: Dow 235.63 +1.84 (0.8%)
France proposes “United States of Europe” federation. Britain cool to the idea, but it’s probably workable without them. However, German participation would be essential. German response “conciliatory in tone,” but raises some big obstacles, indicating desire for revision of the World War peace treaties, “including, presumably, alteration of certain of her new boundaries and removal of the treaty restriction upon her military establishment.”