WHAT OF AMERICA ?
[To the Editor of the SPECTATOR.] SIR,—In your article under this title in to-day's Spectator you speak incidentally of the " damnosa hereditas . . . when a country receives huge payments from other countries . . .
through one-sided payment." Would it be possible for your Finance article to explain the exact form in which the British
debt to the United States is being repaid at the present time ? These payments are the best instance to-day of large payments made by one State to another. We have been told
that such payments must be made in goods. Your article itself says so. Is it so in this case, either directly or indirectly ?
And are such goods over and above the normal consumption of American nationals ? An answer to these questions might throw light on the means for liquidating other international Silverthorne, Camberley.
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