26 AUGUST 1922, Page 2

Mr. Simonds goes on to say that Britain, and, in

fact, all Europe, has constantly clung to the idea that America would cancel her debts, and has proceeded on that assumption. "Conceivably," he continues, "the response in this country to the Balfour Note will destroy this illusion. At all events, it will erase from the present calculations any reliance upon America in this respect." Mr. Simonds concludes his article by prophesying, in his own right, as one who is exceptionally well versed in international affairs, that the United States will Dot cancel.