Mr. Otto Kahn, the well:known American financier, declared in the
Times of Tuesday that, owing to the success of the Washing- ton Conference and 'to the rare statesmanship of Lord Balfour, " we are nearer than we have ever been in my recollection to a policy of genuine and whole-hearted collaboration with Eng- land." America, he said, adhered to her refusal to join 'the League of Nations. Yet -there was " an increasing recognition that America should' not- shirk her due part . . . in giving counsel and' practical aid toward the recuperation and the settlement of the economic problems of Europe." Mr. Kahn pointed out that -the American farmers were beginning to see thet Europe was their only foreign market, and that Europe could only buy their produce if America took European goods and invested in European securities. Further, he commented on the rapid -growth of American investments in foreign bonds, occasioned in part by the over-abundance of gold in America and in part also by the heavy taxation which crippled industrial enterprise at home. Mr Kahn's pronouncement is most encouraging. Though we: must not count on America's political assistance, her.finaacial help will be invaluable to Europe.
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