Though the funding of our debt to America has not
yet been settled in detail, there are abundant signs of good intent in all quarters. Mr. Stanley Baldwin did exactly what we hoped he would do. He told the American Commission that he had come to pay and not to talk, and at once put the negotiations on a business footing—a sure way to secure the confidence of the Americans. The effect on public opinion was immediate. The President has intimated that he desires the terms as to interest and the date for complete repay- ment to be reconsidered, and evidently the Commis- sioners agree with him. Finally, it seems probable that the House of Representatives and the Senate, with whom the final word rests, will incline to a settlement governed by the principle that America shall only ask for terms which will protect her from pecuniary loss. We have no right and no desire to expect any other arrangement. Our business is to pay. It is primarily the creditor's business to say how.
