At the end of 1932, Ambassador Sackett was quite content that the problems presented by Hitler and the Nazi party were being worked out in satisfactory fashion. It might take time, but the danger was past. The Schleicher government appeared to have matters in hand, and all indications were that the general would continue in office at least until spring. The new period of quiet was ideal for Sackett. He was firmly committed to making a success of the proposed World Economic Conference. The calm of the holiday season would enable him to address the preparatory problems in Geneva with an uncluttered mind. He would need all his time and energy to insure that the meeting even took place. The idea for the international economic conference had emerged from his talks with Brüning. Hoover had taken up the idea from time to time and finally committed the United States to participate. But the idea did not sit well with Presidentelect Roosevelt. Careful attention to the issue therefore was imperative in Sackett's eyes.

Hoover was convinced that international cooperation was the best way to defeat the depression; but he feared that Europe was depending too much on the United States to come up with solutions. Pressure from the Congress and also from the British finally induced him to act. He still believed that the American economy, if left to its own devices, could solve domestic problems. But he also presumed that the failure of American recovery could be attributed to the problems in Europe.