REPARATIONS.
[To THE EDITOR or THE " SPECTATOR."] SIR,—Allow me to disagree with your article on "Repara- tions." My feeling is that too much pressure cannot be put upon Germany to compel her to pay, precisely as she insisted upon France paying in 1871, in gold to the last sovereign. Too many attempts are being made to let her down easily, and without any necessity. Her reply that she cannot is untrue. We all know the world's gold or credit is with the United States; let Germany go there for it. She will have to pay dearly for the loan, and possibly be compelled to mortgage her all (country, land, raw materials, and industry) to secure it, but she is in no different position to a private individual in a tight corner from his own misdeeds. Instead, she is playing her game very trickily, and there are soft spots in England which are aiding and abetting her. After all, what do we see? Her trade is booming, and the proceeds of her exports she is hiding away in foreign countries. The long and short of it is she is not playing the game, and so long as she is able to bamboozle our financiers she will do it. Imagine the tables turned and Germany then the victor. She would have made us mortgage our souls but she would have had the gold, as with Franco in 1871. She knows where the gold or credit is, and it is for Germany to secure it and hand it over in gold or credit as she compelled France, and as it becomes due. When she makes this attempt and shows a desire to be honest, then the exchanges will quickly rectify themselves, and international trade will improve and come gradually back to
normal, but not before.—I am, Sir, &c., E. DEAKIN. Egerton Hall, nr. Bolton.
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