One of the pervading interpretations of Anglo-American relations in the interwar period is that the advent of James Ramsay MacDonald's Labour government in June 1929 set in train the series of events that ended bitter relations between Britain and the United States, bitterness which had been caused by the naval question. There are several strands to this: first, that the American policy pursued by the Conservative second Baldwin government from November 1924 to June 1929, and especially after the failure of the Coolidge naval conference in the summer of 1927, was bankrupt; second, that MacDonald was more amenable to settling British differences with the Americans than were his Conservative predecessors and, that being so, softened the hardline towards the United States that had marked Conservative foreign and naval policy for more than two years; and, finally, that MacDonald's decision to travel to the United States on what proved to be a very successful visit in the autumn of 1929 to meet Herbert Hoover, the new president, to discuss outstanding issues personally, was a major diplomatic coup. Some of this received version is true. No one can doubt that MacDonald and his Labour ministry played a crucial role in helping to ameliorate the crisis that had been dogging good Anglo-American relations for more than two years before June 1929. The Labour Party constituted the government when the London naval conference of 1930 ended the period of Anglo-American naval rivalry. Moreover, for six months before that conference convened, Labour had conducted effective diplomacy in preparing for its deliberations.