Comment in the New York Press:
Two Different Points of View Now York, July 17.
'Although secrecy surrounds the] sailing to Europe to-day on board the Majestic of the Secretary of the 'Treasury, Mr. Mellon, and Mr. Pier-'Pont Motgan, ostensibly on a holiday, there is' reason to believe that they may eventually participate conversations which, it is rumoured, are being carried on in France between Mr, Montagu "Norman, Governor of the Bank of England, Mr. Strong, Governor of the Federal Resetve Bank of New York, 'M. Moreau, Governor of the Bank of France, and Dr. Schacht, Govern. or of the Reichsbank.
July 21, Europe, naked, shivering in barrel, with the' Secretary of th Treasury, Mr. Mellon, cosily wrapped in clothes consisting of war debt settlement banknotes, blandly remarking: "You may keep the barrel," is the subject of @ cartoon in the New York "World," which, in an accompanying leader, says that Mr. Winston Churchill's rebuke contained in his speech in the Hou of Commons on July 19 is humilia ing and fundamentally unanswerable.
adds that Mr. Motion "with the finesse of a wild elephant" signed a public letter written probably. by Some bureaucrat of the Treasury] which was wrong in facts and nauseating in pretensions of generosity. The paper remarks in conclusion that President Coolidge's debt policy has been merely a timid evasion to satisfy Congress.
The New York "Herald-Tribune" takes the other side on the inter-Allied debt question, protesting th the transactions with the Alli were above board and carried no egal or moral pledge of cancellation, The paper declares that Britain refunded her debt as a matter of sound national policy whereby the pound's restoration to parity has been gre helped and Britain's position great commercial creditor nation lengthened, Lat In view of the fall of the fra and the prominence given by the press to the war debt controversies the eyes of the American public are' focussed on Europe, especially France, Uneasiness is increasing with regard to the outcome of France's difficulties, While the newspapers give prominence to reports of anti-American Hemonstrations in France and anti-'Amerienn feeling in England, the] American press hitherto has adopted remarkably moderate tone in sym. pathizing with Europe's difficulties, but the man in the street is of] opinion that France does not want} to pay.
The Treasury Has issued a statement amounting to a flat contradiction of Mr. Churehill's figures regarding British expenditure in the United States during the War.
Some politicians accuse Bfr. Mellon, of excessive generosity in debt} settlements, particularly the Ttslian
Text read from the printed page and cleaned; old type leaves the occasional error.