A clerical reader of these columns appears. to think that
in my comments upon our debt settlement with America I hare let that country off rather lightly in the matter of what he is inclined to describe as usurious demands on the part of the creditor, especially having regard to all the circumstances. I could not express his views better than by quoting from an article of his own on usury which he has been good enough to send me, and in the course of which he says: • The word repudiation,' so often heard from the other side of the Atlantic, comes with special ill-grace from America. For the greatest troubles with which the world has to contend to-day are derived from America's repudiation of President Wilson's signature on the Treaty of Peace." The point made is undoubtedly a good one. A. IV. Y.