LETTERS TO THE EDITOR
'[Correspondents are requested to keep their letters as brief as is reasonably possible. The most suitable length is that of one of our " News of the Week " paragraphs. Signed letters are given a preference over those bearing a pseudonym. —Ed. TIDE SPECTATOR.]
GERMANY AND HER CREDITORS
[To the Editor of THE. SPECTATOR.]
Sm,—Germany is blamed in the foreign Press for having taken refuge into the moratorium. But no other way was left to us. We would have much preferred to pay our debts but the creditor countries make it impossible for us to do so. These creditor countries have closed their frontiers to German imports, thus depriving us of the only means of making such repayment. Beyond that they have devaluated their national currencies. The fact remains that Germany's debts problem can only be solved if the creditor countries open their markets to German goods. Everything instead points to the establishment of increased isolation among the various groups of countries. This " splendid isolation" is the end of all international trade and a hopeless standstill. The restoration of normal currency conditions and export possibilities would be followed by a revival of trade not only in Germany—which then would be able to pay back her debts—but throughout the world !
Germany is still ready for any reasonable international agreement on disarmament on the basis of equality. She would even willingly return to the League of Nations if she could be sure to be treated not as an inferior and defeated nation but with absolute equality. Under the leadership of France the League became more and more an instrument for the execution of the Versailles judgement. The neutrals by joining the League helped to perpetuate the predominant position of France. The " Society of Nations " became a mere " League of the Victors " ! Germany joined the League but had soon the feeling to have signed the Versailles treaty once more. Equality was promised to her but only on paper and never in deeds. The atmosphere of victors and vanquished could not be removed.- Therefore it was a relief for all national Germans when Germany left Geneva where her national pride had been hurt so often. The withdrawal from the League was the only way left to Adolf Hitler to hold up Germany's national honour. Germany cannot and will not go back to Geneva asJong as the League continues to be an instrument for the maintenance of the Versailles treaty. But as soon as the League really becomes an institution for maintaining international peace with absolute equalities of rights for every member, Germany is willing to become again a member of the League of Nations
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