5 AUGUST 1922, Page 1

In these circumstances the only thing will be to make

the whole story of our financial dealings in the Great War clear to America. Though we confess we do not like the task of explaining our virtues, especially to our own kinsmen, we shall, we admit, not suffer in the estimation of the world, though we may hurt the susceptibility of some of our Allies. In truth, our financial sacrifices are an heroic story—one as bold, adventurous and sincere as the world's history can show. That is why it is hateful to see our record smirched, or appar- ently smirched, be it ever so little, by anything which looks like subtlety.