An International Loan for Refugees The appeal which Sir John
Hope Simpson made in Man- chester on Tuesday for the raising of an international loan indicates the only method of dealing adequately with the refugee problem. The settlement of Greek refugees in Macedonia, in which Sir John himself took an active part, cost £12,000,000, and it was made possible by an inter- national loan, which was readily subscribed even without guarantee. Such a loan today could be made a profitable investment, and it becomes increasingly difficult to justify the short-sighted policy of this country to the whole refugee problem. On grounds of enlightened self-interest (leaving aside the elementary humanitarian appeal) there is a con- clusive case to be made out for admitting refugees to this country on a generous scale. They have already proved that in the matter of the creation of employment they are an asset rather than a liability. We are faced, as Sir John Hope Simpson pointed out, with the danger of an alarming fall in population, and we yet command many vast empty territories which could be developed by the labour and initiative of the refugees if the Government could be persuaded to spend money on an adequate scale. This is not charity, though if ever there were a case for charity it is here ; an international loan for such a purpose should be a perfectly sound business investment.
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