This is probably the most realistic work so far written about the pressing problems involved in hemisphere defense. The authors have treated their subject in the form of two memoranda: a hypothetical one to Hitler from his Bureau of Political Economy; the other to the President, the Congress and people of the United States. The authors show a comprehensive grasp of the complexities of Nazi tactics, and a proper appreciation of the far-reaching steps -- political and economic -- which the United States must take immediately if it is not to lose its advantageous position in Latin America. Unfortunately, the "book" appears as a memo typewritten on one side of pages without numbers. In view of the importance of the subject and the soundness of its treatment one can only hope that it will be published in a more durable form with an index.