These desiderata seem to us only fair as compensation for
the safeguards which will disappear with the lapse of the Dawes scheme. It is suggested that the umpiring which would be necessary to determine the facts could be entrusted to the proposed International Bank. Unfor- tunately, the French Press continues to mix a good deal of political wine with the water of common sense. M. Francqui, the Belgian delegate, also insists on compensa- tion for the German marks left in Belgium after the War, although this, together with the dispute about the Spa Conference percentages, cannot possibly come within the terms of reference of the Experts. It has now been made clear, by the way, that the British delegates abandoned their claim for the arrears of debt payments to America (£200,000,000) only on certain definite conditions, which were never fulfilled, since the Allied Memorandum in April itself proved abortive. Mr. Churchill has rightly insisted that Great Britain cannot give up the other £50,000,000 which covers the Army costs of the Dominions.