- AMERICA AND OURSELVES AATRITERS in the British and American Press
have V V been hard at work discussing each other's virtues and failings. Once' uPon a time publicists. on both sides of the Atlantic Were So busy giving the -other party good advice that they had- little time to concentrate on his good qualities. Fortunately times have changed and to-day many leading papers act as friendship-makers instead of friendship-breakers. The current issue of the North American Review, edited by Mr. George Harvey, formerly American 'Ambassador iii London, Which belongs to the first category, contains an important article _on the debt problem, entitled " Uncle ---Shyloek Looks Ahead." Writteirinaiialf humorous vein, -the author giN--es a resume of-the recent debt controversy, and regard- ing the 'matter solely from the American standpoint, as is fitting, he makes some helpful suggestions. - As has been frequently pointed out in the Spectator, the British attitude to the Anglo-American debt settle- ment is that we have Made our bed and we Propose to lie on it. No suggestions for a revision of terms will come from us. Such in attitude does not imply it lack of interest in the American discussions of the debt problem, especially so when they -take place in influential quarters. The following' tribute to John Bull's financial integrity is made in the North American Review:— " Recent episodes have not impaired in the slightest degree the respect; admiration and genuine friendship won by sturdy John Bull in squarely meeting his obligations quite regardless of the heavy burden necessarily imposed upon him."
In considering the debt question from the American standpoint two things must be borne in mind. Much water would have to flow down the Mississippi before public opinion in the Middle-West, the dominant factor in American life, would consent to cancellation. A scheme which would enable the United States to receive back the Principal without any interest might prove acceptable in the next decade, although newspaper comment. on Mr. Newton D. Baker's larger proposals of debt cancellation is so far quite unfavourable. If such a scheme of equaliza- tion, as it has been termed by its sponsors in America, were adopted the United States would get back the reduced sums—principal only—within say, twenty-five to thirty- five years and European taxpayers, yet unborn, would not in sixty or seventy years still have to pay an annual tribute to America.
This is how the editor of the North American Review sums up his cage:— " The simple truth, always to be borne in mind, is that the adjust- Ment of the greatest debt the world has ever known was accomplished by a mingling of the spirits of both negotiators in honest endeaveur to serve the highest interest of each country as much as that of the other. It was as fair a settlement as could be devised at that time. Relatively to-day, as France's inherent 'capacity to pay' ha3 increased in approximate proportion to Britain's diminution, it is clearly inequitable. But attempts or suggestions of readjust- ment of any kind would be no less harmful to the Untted Kingdom than to the *United States, while any distraction from 'a mighty mutual effort to resuscitate the world might and probably would proyo universally disastrous. w ' Ultimately, if the present trends of the two countries continue, e are convinced that the American people will be willing to accept from England a sum _total equal to the original principal of her debt, upon the time-honoured theory, still upheld by practice, that a gentleman cannot take interest from a friend. So long. as John -Bull* continues the sportsman and friend.he has recently proved himself to be, even Uncle Shylock will not forget that Uncle Sam was a gentleman."
, Let us turn from a consideration of the debt problem to another subject. A Poem Called "The Vineyard" by Mr. Rudyard. Kipling has appeared in his last collection of short stories and verse and has caused much resentment in America. Even so temperate a paper as the New York Times, which is a warm friend of English-speaking co-operation, refers to these "taunts across the sea" as being in the worst. possible . taste. We would ask Americans to remember that.Mr. Kipling—in admiration of whose genius we are second to none--does not speak for a majority. of the British people and they would be well 'advised not to 'attach undue weight to his pc:Weal opinions : Mr. ICipling— has a large -following in America,' and justly so, but we regret that he should appear to be in sympathy with those who seek to create ill feeling between the two sections of the English-speaking world.
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