20 JANUARY 1923, Page 11

LETTERS TO THE EDITOR.

WHAT FRANCE WILL FIND OUT. [To the Editor of the SPECTATOR.] Sni,—I have been a subscriber to the Spectator for many years, and an admirer of its fairness whether I agreed with it or not. As a rule, I have agreed with its policy. But

I could hardly believe my eyes when I saw the signature to the article "What France will Find Out."

It is from beginning to end mere prophecy which I believe will prove erroneous, and appears to be written entirely from the point of view of an international financier, not to say a Jew, without any sympathy with his ruined debtor. Who are " we " in the paragraph beginning "a similar line of argument," &c.? The change of attitude is not inevitable. Also, I fail to see why the economic recovery of Germany is so essential.

The less we trade with a dishonest nation the better for us and for the world. Our own Empire provides all that is required if Free Trade within the Empire were once established, and there is no difficulty in the way that a patriotic Govern- ment could not overcome.—I am, Sir, &c., G. M. F.