30 DECEMBER 1922, Page 1

If America and Britain can envisage their duty in the

same way at the same time, all may yet be well. A great deal, possibly everything, will depend upon Mr. Stanley Baldwin's visit to the United States. We found strong hopes upon his mission, and his words on his leaving England seem undoubtedly of good omen. They seem to show that he is approaching the duties with which he is charged in exactly the right spirit. He evidently realizes that his prime business is to pay the debts of this country, as honest and honourable men always pay them, and not to talk about them, and not to lecture the American People upon their duties. Above all, we are not going to beg any financial or other favours from America. Anything she can do for us and for the world must come from her and her alone, and not be asked for by us. But when once we have placed ourselves in a position of equality with America, as we shall when we have settled the matter of our indebtedness, we can speak with her as equals in regard to the economic salvation of the world. It is not a question affecting Europe alone.