30 AUGUST 1924, Page 16

HOW TO RECEIVE REPARATIONS.

[To the Editor of the SPECTATOR.]

Sin,—In your issue of August 23rd, Mr. Kiddy in his Finance article refers to "the cardinal principle of our having to discharge our own post-War liabilities in the form of goods and services." I wish it might be explained why, instead of our supplying these goods and services, this should not be done by those who are under liabilities to us. Why should not our German (and other) debtors apply their goods and services—which we seem to dread receiving—in discharging our liabilities to the U.S.A., leaving us to carry on unhampered on the one hand by the service of our debt to U.S.A., on the other hand by the dislocation which is expected to oceur from the dumping upon us of accumulated German stocks ?