This is the main contention of a most important Memorandum
on the Funding of International Debts.. which has been drawn up by a,Committee of the" Indus- trial Group" of the House of Commons, and published in Thursday's Times. The Memorandum begins in these words : "It might not be difficult to restore a state of confidence in the Near East if our policy was based to a greater extent on commercial considerations. . . . An economic alliance between this country, Russia, Germany and the United States would be impossible to resist even by the foremost military Power of Europe." The practical proposal is for the United States and Great Britain to call an economic conference. A debt scheme is suggested by which Germany should pay Britain the £920,000,000 that Britain is paying the United States, in consideration of which Britain should cancel the £1,280,000,000 due to her. The Memorandum has many other points of interest, especially in regard to Russia, and deserves careful reading.
Previous page
