Mr. Churchill has done well to make a full reply
to Mr. Mellon's misstatements in regard to the British debt to America. If an official reply to what was said in a domestic controversy is irregular the irregularity is justified. Mr. Churchill's statement is excellent in matter and manner. Mr. Mellon's inaccuracies have done this country a good deal of harm, but Mr. Churchill does not • weaken the • impressiveness of his own facts by excessive protestation.. He assumes that as debtors to America we are bound to pay and lie does not even by implication argue the point. The whole reply is directed to removing the false idea that we are somehow making money out of the transactions.