Britain to pay the money which we had borrowed frorri
her on behalf of our Allies, and since then we have rediiCeil our demands to a formula, which is to obtain as much frinh our Allies and from Germany as we owe to America_ on our Allies' behalf. We could not, and cannot, ask ftir less, though whether we shall get even that is another matter. The transaction of the moment is with Italy,. Count Volpi and the other members of the Italian Debt. 'Funding Commission are - already in London. 114 amount owed to -us by Italy is roughly R560,000,000; Early in the War, Italy lodged £22,000,000 in gold with the Bank of England as security for loans up to M0,000,006. It is believed that Italy -wishes to have this £22,000,000 in gold returned to her as soon as she has paid off £180,000,000. Great Britain; however, stipulated after the War that the lodgment of gold should remain as security for the payment, of the whole Italian debt and Italy agreed to thiS condition. If Great Britain is really to raise from-the Allies And from Germany the full -amOulit which we- are paying-on-behalf of the Allies to America it will be necessary to receive an annual payment of about £11,000,000 from Italy; We take this estimate from a careful review of the figures in the Daily News. *
