A lot of Pacts going on this day in March, 1940. From Berlin it is learned that Rome and Budapest signed a Pact of Alliance, while Soviet Russia and Persia signed a Trade Pact, which bothered the French Foreign Minister no end.
From Capitol Hill it is reported that Secretary of State Sumner Welles, upon returning from his diplomatic mission to all the Capitals in Europe, concluded that there is 'one chance for peace and a thousand chances for war', making for a gloomy assessment, particularly in light of upcoming legislation and hearings regarding our shipping of Military Aid to Britain.
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