In Budapest

Arrival. After much delay Hungary at last received the American Commissioner General who is to rehabilitate her finances under a plan mapped out by the League of Nations. There arrived at Budapest, Hungary's fair capital, one Jeremiah Smith, Jr., "a plain old-fashioned Yankee lawyer", from Boston, and a rousing welcome did he receive. Finances. Said Commissioner General Jeremiah: "The revenue returns for the first three months of this year show a great improvement and materially aid in the success of the loan about to be negotiated. ... I am convinced that Hungary will receive the assistance and cooperation of the most able interests which have collaborated in the preparation of the plan." Plan. Mr. Smith is to guard Hungarian revenues and expenditures as the representative of the League of Nations. He will apply a $50,000,000 League loan to covering budgetary deficits during a two and a half year term, after which the budget is expected to balance. During this period Hungary must pay about $2,000,000 yearly on account of reparations.

Qualifications. First, "Jerry" was manager of the Crimson football when he was at Harvard. Second, he was associated with "Hell and Maria" Dawes during the War. Third, he was a classmate of Thomas W. Lamont. Fourth, he has sat upon several foreign finance commissions. These are the principal reasons, given by one Louis Lyons in the Boston Globe, why Mr. Smith is suited to his new position. Said Mr. Lyons: "He [Jeremiah Smith] can come down to brass tacks, win his point, and still keep the good-will of the other fellow."